Clear Creek Financial Management LLC Invests $246,000 in Nucor Corporation $NUE

Key Points

• Clear Creek Financial Management LLC invested approximately $246,000 in Nucor Corporation by acquiring 1,898 shares in the second quarter.
• Several institutional investors, such as Matrix Trust Co and Geneos Wealth Management Inc., have also significantly increased their positions in Nucor, now owned by 76.48% of institutional investors and hedge funds.
• Nucor's stock has received mixed feedback from analysts, with a consensus rating of "Moderate Buy" and a current average price target of $156.60.

Clear Creek Financial Management LLC bought a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 1,898 shares of the basic materials company's stock, valued at approximately $246,000.

Several other large investors have also made changes to their positions in the business. Matrix Trust Co increased its position in shares of Nucor by 53.8% during the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company's stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Geneos Wealth Management Inc. increased its position in shares of Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock worth $41,000 after purchasing an additional 153 shares in the last quarter. Spirit of America Management Corp NY purchased a new stake in shares of Nucor during the first quarter worth approximately $48,000. Meeder Asset Management Inc. increased its position in shares of Nucor by 209.6% during the first quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company's stock worth $50,000 after purchasing an additional 283 shares in the last quarter. Finally, Putney Financial Group LLC increased its position in shares of Nucor by 86.8% during the first quarter. Putney Financial Group LLC now owns 467 shares of the basic materials company's stock worth $56,000 after purchasing an additional 217 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wells Fargo & Company dropped their price target on Nucor from $146.00 to $140.00 and set an "equal weight" rating for the company in a research report on Thursday, September 18th. Weiss Ratings reiterated a "hold (c)" rating on shares of Nucor in a research report on Wednesday. Morgan Stanley boosted their price target on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. The Goldman Sachs Group dropped their target price on Nucor from $182.00 to $173.00 and set a "buy" rating for the company in a report on Monday, September 22nd. Finally, Bank of America upped their target price on Nucor from $150.00 to $165.00 and gave the company a "buy" rating in a report on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $156.60.

Nucor Stock Down 3.2%

Shares of NYSE:NUE opened at $133.68 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $141.25 and a two-hundred day moving average of $129.32. The stock has a market cap of $30.68 billion, a P/E ratio of 24.13, a PEG ratio of 0.92 and a beta of 1.75. Nucor Corporation has a 52-week low of $97.59 and a 52-week 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 earnings per share for the quarter, topping analysts' consensus estimates of $2.54 by $0.06. The business had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company's revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 EPS. On average, research analysts expect that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. Nucor's dividend payout ratio is currently 39.71%.

Insiders Place Their Bets

In other news, EVP Allen C. Behr sold 8,021 shares of the 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 approximately $11,857,956.14. This represents a 8.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $144.90, for a total value of $1,449,000.00. Following the transaction, the executive vice president owned 84,080 shares of the company's stock, valued at approximately $12,183,192. This represents a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,309 shares of company stock valued at $4,553,771. 0.46% of the stock is owned by company insiders.

Nucor Company Profile

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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