Field & Main Bank purchased a new stake in Nucor Corporation (NYSE:NUE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,550 shares of the basic materials company's stock, valued at approximately $1,236,000.
A number of other hedge funds have also recently bought and sold shares of the business. RKL Wealth Management LLC increased its holdings in Nucor by 0.9% during the 1st quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company's stock worth $899,000 after purchasing an additional 48 shares during the last quarter. Focus Financial Network Inc. boosted its stake in shares of Nucor by 3.6% during the 2nd quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company's stock valued at $316,000 after buying an additional 49 shares during the last quarter. Empirical Asset Management LLC boosted its stake in shares of Nucor by 2.6% during the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company's stock valued at $347,000 after buying an additional 54 shares during the last quarter. Moody National Bank Trust Division grew its position in shares of Nucor by 4.6% during the second quarter. Moody National Bank Trust Division now owns 1,396 shares of the basic materials company's stock worth $311,000 after buying an additional 62 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its position in shares of Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock worth $32,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.
Insider Activity at Nucor
In related news, EVP Thomas J. Batterbee sold 4,000 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the sale, the executive vice president owned 16,138 shares of the company's stock, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction dated 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 owned 97,865 shares of the company's stock, valued at $25,294,187.90. This represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,528 shares of company stock worth $4,793,035 over the last ninety days. 0.62% of the stock is currently owned by corporate insiders.
Nucor Stock Down 0.6%
Shares of Nucor stock opened at $250.84 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $56.91 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 0.94 and a beta of 1.89. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11. The business's 50 day simple moving average is $246.64 and its 200-day simple moving average is $218.97.
Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating analysts' consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company had revenue of $10.40 billion for the quarter, compared to analysts' expectations of $10.15 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. The business's revenue for the quarter was up 23.0% compared to the same quarter last year. Equities research analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current year.
Nucor Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor's payout ratio is currently 17.86%.
Analysts Set New Price Targets
Several analysts recently issued reports on NUE shares. Wall Street Zen raised shares of Nucor from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Zacks Research lowered shares of Nucor from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. BMO Capital Markets boosted their target price on shares of Nucor from $285.00 to $295.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. The Goldman Sachs Group upped their target price on shares of Nucor from $260.00 to $284.00 and gave the company a "buy" rating in a research note on Tuesday, June 16th. Finally, KeyCorp raised shares of Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 price target on the stock in a research report on Wednesday, June 24th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $272.38.
Read Our Latest Report on NUE
Nucor Company Profile
(
Free Report)
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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