Inspire Investing LLC Purchases 2,973 Shares of Nucor Corporation $NUE

Key Points

• Inspire Investing LLC increased its stake in Nucor Corporation by 12.8% in the first quarter, now owning 26,216 shares worth approximately $3.15 million.
• Nucor recently reported $2.60 EPS for the quarter, exceeding analysts' estimates, and had revenue of $8.46 billion, with a 4.7% year-over-year increase.
• The company declared a quarterly dividend of $0.55 per share to be paid on November 10th, representing a 1.5% yield.

Inspire Investing LLC raised its stake in Nucor Corporation (NYSE:NUE - Free Report) by 12.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,216 shares of the basic materials company's stock after buying an additional 2,973 shares during the period. Inspire Investing LLC's holdings in Nucor were worth $3,155,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Modern Wealth Management LLC boosted its position in shares of Nucor by 45.6% during the 1st quarter. Modern Wealth Management LLC now owns 3,007 shares of the basic materials company's stock valued at $362,000 after purchasing an additional 942 shares in the last quarter. Strs Ohio acquired a new position in Nucor during the 1st quarter worth approximately $13,959,000. Ellsworth Advisors LLC raised its stake in shares of Nucor by 213.0% in the first quarter. Ellsworth Advisors LLC now owns 45,539 shares of the basic materials company's stock worth $5,480,000 after purchasing an additional 30,988 shares during the last quarter. Jacobi Capital Management LLC raised its stake in shares of Nucor by 9.1% in the first quarter. Jacobi Capital Management LLC now owns 3,715 shares of the basic materials company's stock worth $447,000 after purchasing an additional 309 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock worth $41,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 76.48% of the company's stock.

Nucor Price Performance

NUE opened at $143.82 on Friday. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52. The firm has a market cap of $33.01 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 0.90 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. The stock's 50 day simple moving average is $143.05 and its 200 day simple moving average is $128.42.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $8.47 billion. During the same quarter in the previous year, the business earned $2.68 EPS. Nucor's revenue was up 4.7% compared to the same quarter last year. As a group, analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Nucor's payout ratio is currently 39.71%.

Insider Transactions at Nucor

In other Nucor news, EVP Daniel R. Needham sold 7,200 shares of Nucor stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the sale, the executive vice president directly owned 92,179 shares of the company's stock, valued at approximately $13,458,134. The trade was a 7.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kenneth Rex Query sold 10,000 shares of Nucor stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the sale, the executive vice president directly owned 84,080 shares in the company, valued at approximately $12,183,192. The trade was a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,397 shares of company stock valued at $6,763,814. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on NUE shares. Wells Fargo & Company raised Nucor to a "hold" rating in a research report on Thursday, August 14th. Morgan Stanley raised their price target on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. UBS Group cut their price target on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and increased their price objective for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Finally, BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Nucor has an average rating of "Moderate Buy" and an average price target of $155.78.

Nucor Company Profile

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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