Glenview Trust Co Makes New $1.67 Million Investment in Nucor Corporation $NUE

Glenview Trust Co acquired a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 7,482 shares of the basic materials company's stock, valued at approximately $1,667,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NUE. Northwestern Mutual Wealth Management Co. increased its position in shares of Nucor by 745.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company's stock worth $13,614,000 after acquiring an additional 73,588 shares during the period. California Public Employees Retirement System boosted its holdings in Nucor by 19.3% in the first quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company's stock valued at $86,297,000 after purchasing an additional 82,668 shares during the period. Pacific Heights Asset Management LLC grew its stake in Nucor by 12.9% during the 4th quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company's stock worth $28,544,000 after purchasing an additional 20,000 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Nucor by 1.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company's stock worth $306,054,000 after purchasing an additional 29,476 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in Nucor during the 4th quarter worth about $23,804,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $270.00 price objective on Nucor in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of Nucor from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. CICC Research initiated coverage on shares of Nucor in a report on Monday, May 25th. They issued an "outperform" rating on the stock. Citigroup reiterated a "buy" rating on shares of Nucor in a research note on Wednesday, July 29th. Finally, KeyCorp raised shares of Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 price objective on the stock in a research report on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $272.38.

Nucor Stock Down 0.6%

Shares of NYSE:NUE opened at $250.84 on Friday. The firm has a 50 day simple moving average of $246.64 and a 200-day simple moving average of $218.97. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11. 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 company has a market capitalization of $56.91 billion, a PE ratio of 20.00, a P/E/G ratio of 0.94 and a beta of 1.89.

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

Nucor Dividend Announcement

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

Insider Activity at Nucor

In other news, COO Stephen D. Laxton sold 3,968 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares of the company's stock, valued at $20,008,704.32. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the sale, the executive vice president directly owned 16,138 shares in the company, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 18,528 shares of company stock worth $4,793,035 over the last 90 days. Company insiders own 0.62% of the company's stock.

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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