Foster & Motley Inc. Buys Shares of 19,511 Nucor Corporation $NUE

Key Points

• Foster & Motley Inc. acquired 19,511 Nucor shares during the second quarter, worth approximately $4.35 million. Institutional investors and hedge funds collectively own 76.48% of Nucor.
• Nucor’s latest quarterly results exceeded expectations, with earnings of $4.84 per share versus the $4.46 estimate and revenue of $10.40 billion, up 23% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $273.31; however, Nucor insiders sold 18,528 shares worth about $4.79 million over the last quarter.

Foster & Motley Inc. bought a new position in Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 19,511 shares of the basic materials company's stock, valued at approximately $4,346,000.

Several other hedge funds also recently modified their holdings of NUE. RKL Wealth Management LLC lifted its stake in shares of Nucor by 0.9% in the 1st quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company's stock valued at $899,000 after purchasing an additional 48 shares during the last quarter. Focus Financial Network Inc. raised its holdings in Nucor by 3.6% during the second 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 in the last quarter. Empirical Asset Management LLC lifted its position in shares of Nucor by 2.6% in the fourth quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company's stock worth $347,000 after buying an additional 54 shares during the last quarter. Krilogy Financial LLC lifted its position in shares of Nucor by 4.1% in the fourth quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company's stock worth $272,000 after buying an additional 61 shares during the last quarter. Finally, Moody National Bank Trust Division boosted its stake in shares of Nucor by 4.6% during the 2nd quarter. Moody National Bank Trust Division now owns 1,396 shares of the basic materials company's stock worth $311,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Transactions at Nucor

In related news, EVP John J. Hollatz sold 10,560 shares of the business'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 transaction, the executive vice president owned 97,865 shares of the company's stock, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of the company's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer owned 77,867 shares of the company's stock, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 18,528 shares of company stock worth $4,793,035. Insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of recent analyst reports. BNP Paribas Exane raised their price objective on Nucor from $210.00 to $248.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Citigroup reaffirmed a "buy" rating on shares of Nucor in a research report on Wednesday, July 29th. JPMorgan Chase & Co. increased their price target on Nucor from $240.00 to $282.00 and gave the company an "overweight" rating in a report on Wednesday, June 10th. Argus lifted their price target on shares of Nucor from $200.00 to $262.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Finally, Jefferies Financial Group boosted their price objective on shares of Nucor from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $273.31.

Nucor Price Performance

NYSE NUE opened at $264.74 on Wednesday. The stock has a 50-day simple moving average of $247.76 and a 200 day simple moving average of $215.68. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11. The stock has a market capitalization of $60.06 billion, a PE ratio of 21.11, a P/E/G ratio of 0.60 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51.

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

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were paid a $0.56 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. Nucor's dividend payout ratio (DPR) is presently 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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