Calton & Associates Inc. Buys New Stake in Nucor Corporation $NUE

Key Points

• Calton & Associates Inc. has acquired a new stake in Nucor Corporation by purchasing 8,730 shares valued at approximately $1,051,000 in the first quarter.
• Company insiders sold a total of 48,397 shares worth over $6.7 million in the past three months, with significant sales by EVP Allen C. Behr and insider Michael D. Keller.
• Nucor recently declared a quarterly dividend of $0.55 per share, which translates to an annual yield of 1.5%, highlighting the company's ongoing shareholder returns.

Calton & Associates Inc. purchased a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,730 shares of the basic materials company's stock, valued at approximately $1,051,000.

A number of other hedge funds have also recently bought and sold shares of NUE. Putney Financial Group LLC bought a new stake in shares of Nucor in the 4th quarter worth about $29,000. MV Capital Management Inc. increased its stake in shares of Nucor by 73.5% during the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after purchasing an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC acquired a new position in Nucor in the 4th quarter valued at $41,000. Park Square Financial Group LLC acquired a new position in Nucor in the 4th quarter valued at $48,000. Finally, Spirit of America Management Corp NY acquired a new position in Nucor in the 1st quarter valued at $48,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Buying and Selling

In other news, EVP Allen C. Behr sold 8,021 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the completion of the transaction, the executive vice president directly owned 82,703 shares in the company, valued at $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael D. Keller sold 6,088 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the transaction, the insider owned 22,464 shares of the company's stock, valued at approximately $3,333,882.24. This represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,397 shares of company stock worth $6,763,814 in the last three months. Company insiders own 0.46% of the company's stock.

Analyst Ratings Changes

NUE has been the subject of a number of analyst reports. UBS Group decreased their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Wells Fargo & Company upgraded shares of Nucor to a "hold" rating in a report on Thursday, August 14th. Morgan Stanley lifted their target price on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. upped their price target on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Finally, Jefferies Financial Group raised Nucor from a "hold" rating to a "buy" rating and upped their target price for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Nucor has an average rating of "Moderate Buy" and a consensus target price of $155.78.

Nucor Stock Down 0.7%

NUE stock opened at $148.82 on Friday. The stock has a market cap of $34.16 billion, a P/E ratio of 26.86, a PEG ratio of 0.95 and a beta of 1.74. The business's 50-day moving average price is $140.71 and its 200-day moving average price is $127.93. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06. The firm had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The business's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.68 EPS. On average, equities research analysts forecast that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 11th. Investors of record on Monday, June 30th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 30th. Nucor's dividend payout ratio (DPR) is currently 39.71%.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.

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