First Nebraska Trust Co Makes New Investment in Nucor Corporation $NUE

First Nebraska Trust Co purchased a new stake in Nucor Corporation (NYSE:NUE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 81,156 shares of the basic materials company's stock, valued at approximately $18,077,000. Nucor makes up about 1.5% of First Nebraska Trust Co's holdings, making the stock its 15th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in NUE. Bank of Nova Scotia acquired a new stake in shares of Nucor during the second quarter worth $12,422,000. Elevation Point Wealth Partners LLC bought a new position in Nucor during the 2nd quarter worth about $814,000. Alta Advisers Ltd bought a new position in Nucor during the 2nd quarter worth about $225,000. Daiichi Life Insurance Co. Ltd. acquired a new stake in shares of Nucor in the 2nd quarter valued at about $2,722,000. Finally, Commerce Bank acquired a new stake in shares of Nucor in the 2nd quarter valued at about $2,943,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NUE shares. Seaport Research Partners boosted their price target on Nucor from $245.00 to $285.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. UBS Group increased their price objective on Nucor from $224.00 to $256.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. lifted their target price on Nucor from $240.00 to $282.00 and gave the company an "overweight" rating in a research report on Wednesday, June 10th. Barclays boosted their target price on Nucor from $272.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Finally, Morgan Stanley set a $270.00 price target on shares of Nucor in a research note on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $273.31.

Insiders Place Their Bets

In related news, COO Stephen D. Laxton sold 3,968 shares of the firm's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the transaction, the chief operating officer directly owned 77,867 shares of the company's stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a 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 $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,528 shares of company stock valued at $4,793,035 in the last 90 days. 0.62% of the stock is currently owned by insiders.

Nucor Trading Up 1.4%

Nucor stock opened at $243.89 on Friday. The firm has a 50-day moving average of $246.88 and a 200-day moving average of $216.80. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The company has a market cap of $55.33 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 0.90 and a beta of 1.89.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating 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 company had revenue of $10.40 billion during the quarter, compared to analysts' expectations of $10.15 billion. During the same quarter last year, the company earned $2.60 EPS. Nucor's revenue for the quarter was up 23.0% compared to the same quarter last year. On average, equities analysts expect that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor's dividend payout ratio (DPR) is currently 17.86%.

Nucor 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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