Cornell Pochily Investment Advisors Inc. Buys Shares of 1,817 Nucor Corporation $NUE

Key Points

• Cornell Pochily Investment Advisors Inc. acquired 1,817 shares of Nucor Corporation for approximately $235,000 as part of their second-quarter investments.
• Institutional investors collectively own 76.48% of Nucor's stock, indicating strong institutional support and investment interest in the company.
• Nucor recently declared a quarterly dividend of $0.55 per share, reflecting a 1.6% yield and reaffirming its commitment to returning value to shareholders.

Cornell Pochily Investment Advisors Inc. purchased a new stake in Nucor Corporation (NYSE:NUE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,817 shares of the basic materials company's stock, valued at approximately $235,000.

A number of other institutional investors also recently modified their holdings of the company. Matrix Trust Co raised its position in shares of Nucor by 53.8% in the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 84 shares during the period. Highline Wealth Partners LLC raised its position in shares of Nucor by 2.6% in the first quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company's stock valued at $423,000 after purchasing an additional 90 shares during the period. Dorsey & Whitney Trust CO LLC raised its position in shares of Nucor by 2.2% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,247 shares of the basic materials company's stock valued at $511,000 after purchasing an additional 93 shares during the period. Diligent Investors LLC raised its position in shares of Nucor by 4.6% in the first quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company's stock valued at $276,000 after purchasing an additional 102 shares during the period. Finally, Denali Advisors LLC raised its position in shares of Nucor by 2.5% in the first quarter. Denali Advisors LLC now owns 4,117 shares of the basic materials company's stock valued at $495,000 after purchasing an additional 102 shares during the period. Institutional investors own 76.48% of the company's stock.

Insider Activity

In other news, insider Michael D. Keller sold 6,088 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the sale, the insider owned 22,464 shares in the company, valued at approximately $3,333,882.24. The trade was a 21.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allen C. Behr sold 8,021 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the completion of the sale, the executive vice president owned 82,703 shares in the company, valued at $11,857,956.14. This represents a 8.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,309 shares of company stock worth $4,553,771 over the last 90 days. 0.46% of the stock is currently owned by company insiders.

Nucor Trading Up 2.6%

Shares of Nucor stock opened at $138.96 on Friday. The firm has a market capitalization of $31.90 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 0.93 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. The company's fifty day moving average price is $141.99 and its two-hundred day moving average price is $128.95. 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 announced its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.06. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.68 EPS. On average, analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NUE. Wells Fargo & Company dropped their price target on shares of Nucor from $146.00 to $140.00 and set an "equal weight" rating on the stock in a research report on Thursday, September 18th. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. The Goldman Sachs Group dropped their target price on shares of Nucor from $182.00 to $173.00 and set a "buy" rating on the stock in a research report on Monday, September 22nd. Morgan Stanley boosted their target price on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Finally, Bank of America boosted their target price on shares of Nucor from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $156.60.

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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