Commerce Bank Makes New $2.94 Million Investment in Nucor Corporation $NUE

Key Points

• Commerce Bank acquired 13,214 Nucor shares during the second quarter, worth approximately $2.94 million. Institutional investors collectively own 76.48% of Nucor’s outstanding stock.
• Nucor reported strong quarterly results, with earnings per share of $4.84 beating estimates by $0.38 and revenue rising 23% year over year to $10.40 billion.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $272.38, while Nucor continues paying a quarterly dividend of $0.56 per share.

Commerce Bank acquired a new position in Nucor Corporation (NYSE:NUE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,214 shares of the basic materials company's stock, valued at approximately $2,943,000.

A number of other large investors have also recently made changes to their positions in the stock. Stance Capital LLC purchased a new stake in Nucor in the 3rd quarter worth approximately $25,000. Strive Financial Group LLC bought a new position in shares of Nucor in the fourth quarter worth approximately $27,000. Bell Investment Advisors Inc purchased a new stake in shares of Nucor in the second quarter worth $28,000. Motiv8 Investments LLC purchased a new stake in shares of Nucor in the fourth quarter worth $32,000. Finally, Bartlett & CO. Wealth Management LLC raised its position in shares of Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 63 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Trading Up 0.3%

Shares of Nucor stock opened at $244.32 on Tuesday. The firm has a market cap of $55.43 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 0.90 and a beta of 1.89. The business has a 50-day moving average price of $246.58 and a 200-day moving average price of $217.46. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11.

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

Nucor Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Nucor from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Citigroup reaffirmed a "buy" rating on shares of Nucor in a research note on Wednesday, July 29th. Wells Fargo & Company cut their target price on Nucor from $297.00 to $285.00 and set an "overweight" rating for the company in a research report on Monday. The Goldman Sachs Group lifted their target price on Nucor from $260.00 to $284.00 and gave the company a "buy" rating in a research note on Tuesday, June 16th. Finally, Barclays boosted their price target on Nucor from $272.00 to $295.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $272.38.

Insider Activity

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares of the company's stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is currently owned by insiders.

Nucor Company Profile

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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