Callan Family Office LLC Takes $1.23 Million Position in Nucor Corporation $NUE

Callan Family Office LLC acquired a new stake in Nucor Corporation (NYSE:NUE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,534 shares of the basic materials company's stock, valued at approximately $1,233,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. RKL Wealth Management LLC boosted its stake in Nucor by 0.9% during the first quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company's stock worth $899,000 after buying an additional 48 shares during the period. Focus Financial Network Inc. raised its holdings in shares of Nucor by 3.6% in the 2nd quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company's stock valued at $316,000 after buying an additional 49 shares during the period. Empirical Asset Management LLC raised its holdings in shares of Nucor by 2.6% in the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company's stock valued at $347,000 after buying an additional 54 shares during the period. Moody National Bank Trust Division lifted its stake in Nucor by 4.6% during the 2nd quarter. Moody National Bank Trust Division now owns 1,396 shares of the basic materials company's stock worth $311,000 after acquiring an additional 62 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC lifted its stake in Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock worth $32,000 after acquiring an additional 63 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NUE has been the subject of several recent research reports. Barclays raised their price objective on shares of Nucor from $272.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Seaport Research Partners boosted their target price on shares of Nucor from $245.00 to $285.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Morgan Stanley set a $270.00 price target on Nucor in a research note on Wednesday, July 29th. Jefferies Financial Group upped their price objective on Nucor from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Finally, Argus increased their price objective on Nucor from $200.00 to $262.00 and gave the company a "buy" rating in a report on Friday, May 15th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Nucor has a consensus rating of "Moderate Buy" and a consensus target price of $273.31.

Nucor Trading Up 0.1%

NYSE NUE opened at $243.89 on Monday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The firm has a market cap of $55.33 billion, a PE ratio of 19.45, a P/E/G ratio of 0.90 and a beta of 1.89. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11. The firm's fifty day moving average is $246.88 and its two-hundred day moving average is $217.05.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.38. The business had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business's quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.60 earnings per share. Analysts expect that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor's dividend payout ratio is 17.86%.

Insider Activity

In related news, COO Stephen D. Laxton sold 3,968 shares of the firm's stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the sale, the executive vice president directly owned 16,138 shares in the company, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 18,528 shares of company stock worth $4,793,035 in the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

About Nucor

Nucor Corporation NYSE: NUE is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor's operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.

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