Kimelman & Baird LLC Purchases New Position in Nucor Corporation $NUE

Key Points

• Kimelman & Baird LLC acquired 37,265 Nucor shares during the second quarter, valued at approximately $8.3 million. Institutional investors collectively own 76.48% of Nucor’s outstanding stock.
• Nucor reported quarterly EPS of $4.84, exceeding estimates of $4.46, while revenue rose 23% year over year to $10.40 billion. The company also maintains a quarterly dividend of $0.56 per share, yielding about 0.9%.
• Analysts largely remain positive, with 13 Buy ratings and three Holds, producing a “Moderate Buy” consensus and an average price target of $272.38 versus the reported share price of $250.84.

Kimelman & Baird LLC acquired a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 37,265 shares of the basic materials company's stock, valued at approximately $8,301,000.

A number of other institutional investors have also modified their holdings of NUE. Transamerica Financial Advisors LLC acquired a new stake in Nucor in the second quarter valued at $25,000. Stance Capital LLC purchased a new stake in shares of Nucor in the third quarter valued at about $25,000. Manning & Napier Advisors LLC purchased a new position in Nucor during the second quarter worth $27,000. Strive Financial Group LLC acquired a new position in Nucor in the 4th quarter valued at about $27,000. Finally, Bell Investment Advisors Inc acquired a new position in shares of Nucor in the second quarter valued at approximately $28,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Down 0.6%

Shares of NYSE:NUE opened at $250.84 on Friday. 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 fifty day simple moving average of $246.64 and a 200 day simple moving average of $218.97. The firm has a market cap of $56.91 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.89. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm's revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.60 EPS. On average, equities research analysts anticipate that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors 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 17.86%.

Insider Buying and Selling

In related news, EVP John J. Hollatz sold 10,560 shares of the business's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, the executive vice president directly owned 97,865 shares of the company's stock, valued at $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen D. Laxton sold 3,968 shares of the 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 transaction, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 18,528 shares of company stock worth $4,793,035. Corporate insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. BMO Capital Markets raised their price target on Nucor from $285.00 to $295.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 29th. UBS Group increased their price target on Nucor from $224.00 to $256.00 and gave the company a "neutral" rating in a report on Tuesday, July 28th. Argus lifted their price target on shares of Nucor from $200.00 to $262.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Citigroup reissued a "buy" rating on shares of Nucor in a research report on Wednesday, July 29th. Finally, Weiss Ratings upgraded Nucor from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Nucor currently has a consensus rating of "Moderate Buy" and a consensus price target of $272.38.

Nucor Company 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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