10,551 Shares in Nucor Corporation $NUE Purchased by FCG Investment Co

Key Points

• FCG Investment Co has acquired a new stake in Nucor Corporation, purchasing 10,551 shares valued at approximately $1,270,000 during the first quarter.
• Following numerous investments, hedge funds and institutional investors now own 76.48% of Nucor's stock, indicating strong confidence in the company.
• Nucor recently reported quarterly earnings of $2.60 EPS, surpassing analysts' expectations, and announced a quarterly dividend of $0.55, reflecting a yearly yield of 1.5%.

FCG Investment Co purchased a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,551 shares of the basic materials company's stock, valued at approximately $1,270,000.

Other institutional investors also recently added to or reduced their stakes in the company. Corient IA LLC acquired a new stake in shares of Nucor in the first quarter valued at $301,000. Raymond James Financial Inc. raised its position in shares of Nucor by 33.7% during the first quarter. Raymond James Financial Inc. now owns 443,419 shares of the basic materials company's stock worth $53,361,000 after purchasing an additional 111,709 shares during the period. Cresset Asset Management LLC raised its position in Nucor by 18.6% during the first quarter. Cresset Asset Management LLC now owns 111,561 shares of the basic materials company's stock valued at $13,486,000 after buying an additional 17,514 shares during the period. United Capital Management of KS Inc. acquired a new position in Nucor during the first quarter valued at $9,691,000. Finally, American Century Companies Inc. raised its position in Nucor by 14.8% during the first quarter. American Century Companies Inc. now owns 349,821 shares of the basic materials company's stock valued at $42,098,000 after buying an additional 45,147 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Trading Up 0.9%

Shares of NYSE:NUE traded up $1.26 during midday trading on Tuesday, hitting $145.91. The company had a trading volume of 1,382,729 shares, compared to its average volume of 1,732,602. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The stock has a market cap of $33.49 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 0.92 and a beta of 1.74. The firm has a fifty day simple moving average of $136.64 and a 200 day simple moving average of $127.15.

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

Nucor Dividend Announcement

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

Analyst Ratings Changes

NUE has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. increased their target price on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Jefferies Financial Group raised Nucor from a "hold" rating to a "buy" rating and upped their price target for the company from $135.00 to $170.00 in a report on Thursday, July 31st. Finally, BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and upped their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Nucor has an average rating of "Buy" and a consensus target price of $155.78.

Insider Buying and Selling

In related 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 sale, the executive vice president owned 82,703 shares of the company's stock, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kenneth Rex Query sold 10,000 shares of Nucor stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the sale, the executive vice president directly owned 94,080 shares in the company, valued at $12,265,209.60. This represents a 9.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,109 shares of company stock valued at $3,360,094. 0.71% of the stock is owned by company insiders.

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.