Inspire Investing LLC Has $3.12 Million Holdings in Nucor Corporation $NUE

Key Points

• Inspire Investing LLC reduced its holdings in Nucor Corporation by 8.1% during the second quarter, holding $3.12 million worth of stock after selling 2,132 shares.
• Several institutional investors increased their positions in Nucor, with Integrated Advisors Network LLC raising its holdings by 99.8% in the first quarter.
• Nucor recently announced a quarterly dividend of $0.55, reflecting an annualized yield of 1.6%, with the payment scheduled for November 10th.

Inspire Investing LLC decreased its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 8.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,084 shares of the basic materials company's stock after selling 2,132 shares during the period. Inspire Investing LLC's holdings in Nucor were worth $3,120,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in NUE. Park Avenue Securities LLC increased its holdings in shares of Nucor by 5.8% in the 1st quarter. Park Avenue Securities LLC now owns 7,501 shares of the basic materials company's stock valued at $903,000 after purchasing an additional 413 shares during the period. Farther Finance Advisors LLC increased its holdings in Nucor by 25.1% in the first quarter. Farther Finance Advisors LLC now owns 2,344 shares of the basic materials company's stock worth $280,000 after buying an additional 470 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Nucor in the first quarter worth approximately $717,000. GAMMA Investing LLC increased its holdings in Nucor by 48.6% in the first quarter. GAMMA Investing LLC now owns 4,203 shares of the basic materials company's stock worth $506,000 after buying an additional 1,375 shares during the last quarter. Finally, Integrated Advisors Network LLC increased its holdings in Nucor by 99.8% in the first quarter. Integrated Advisors Network LLC now owns 5,054 shares of the basic materials company's stock worth $608,000 after buying an additional 2,525 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on Nucor from $182.00 to $173.00 and set a "buy" rating for the company in a research report on Monday, September 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Nucor in a research note on Wednesday. Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and raised their target price for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Bank of America raised their price target on Nucor from $150.00 to $165.00 and gave the company a "buy" rating in a report on Monday, September 15th. Finally, Morgan Stanley raised their price target on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $156.60.

Nucor Trading Down 3.2%

NYSE NUE opened at $133.68 on Friday. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The stock has a market capitalization of $30.68 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 0.95 and a beta of 1.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The stock's 50 day moving average price is $141.25 and its two-hundred day moving average price is $129.31.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.47 billion. During the same quarter in the prior year, the business posted $2.68 EPS. The business's revenue was up 4.7% compared to the same quarter last year. As a group, analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor's dividend payout ratio is currently 39.71%.

Insider Transactions at Nucor

In related news, EVP Allen C. Behr sold 8,021 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $143.38, for a total value of $1,150,050.98. Following the sale, the executive vice president directly owned 82,703 shares of the company's stock, valued at $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael D. Keller sold 6,088 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the transaction, the insider owned 22,464 shares of the company's stock, valued at $3,333,882.24. This represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,309 shares of company stock valued at $4,553,771. Corporate insiders own 0.46% of the company's stock.

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.

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