Kinloch Capital LLC Acquires New Shares in Nucor Corporation $NUE

Key Points

• Kinloch Capital acquired 19,678 Nucor shares worth approximately $4.38 million in the second quarter. Institutional investors collectively own 76.48% of Nucor’s outstanding stock.
• Nucor reported strong quarterly results, with EPS of $4.84 beating estimates of $4.46 and revenue of $10.40 billion rising 23% year over year. Analysts maintain a “Moderate Buy” consensus, with an average price target of $272.38.
• Two Nucor executives sold shares recently, contributing to 18,528 shares sold by insiders worth $4.79 million over the past 90 days. The company also maintains a quarterly dividend of $0.56 per share, or $2.24 annually.

Kinloch Capital LLC acquired a new position in Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 19,678 shares of the basic materials company's stock, valued at approximately $4,383,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Nucor by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company's stock worth $4,633,554,000 after purchasing an additional 144,038 shares during the last quarter. BlackRock Inc. acquired a new position in Nucor in the second quarter valued at about $4,452,563,000. Morgan Stanley boosted its stake in Nucor by 1.1% during the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company's stock worth $628,497,000 after buying an additional 41,728 shares during the period. Norges Bank purchased a new position in Nucor during the fourth quarter worth about $609,002,000. Finally, Dimensional Fund Advisors LP boosted its stake in Nucor by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company's stock worth $429,298,000 after buying an additional 22,718 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.

Insiders Place Their Bets

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were 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 $4,212,340.76. This represents a 19.86% decrease in their position. The transaction 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 firm's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 77,867 shares of the company's stock, valued at $20,008,704.32. This represents a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,528 shares of company stock worth $4,793,035 in the last ninety days. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NUE shares. Zacks Research downgraded shares of Nucor from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. The Goldman Sachs Group increased their price objective on shares of Nucor from $260.00 to $284.00 and gave the stock a "buy" rating in a research report on Tuesday, June 16th. Wells Fargo & Company dropped their target price on shares of Nucor from $297.00 to $285.00 and set an "overweight" rating for the company in a report on Monday. Bank of America cut their target price on Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Citigroup restated a "buy" rating on shares of Nucor in a research note on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $272.38.

Nucor Stock Performance

NYSE NUE opened at $244.32 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The company has a market cap of $55.43 billion, a P/E ratio of 19.48, a P/E/G ratio of 0.90 and a beta of 1.89. The stock has a 50-day moving average of $246.58 and a two-hundred day moving average of $217.46. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11.

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

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor's dividend payout ratio is presently 17.86%.

About Nucor

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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