LVM Capital Management Ltd. MI Purchases Shares of 3,600 Nucor Corporation $NUE

Key Points

• LVM Capital Management Ltd. MI purchased 3,600 shares of Nucor Corporation in Q2, valued at approximately $466,000, indicating a growing institutional interest in the stock.
• Nucor's recent earnings report showed an EPS of $2.60, exceeding analysts' estimates by $0.06, with revenues reaching $8.46 billion, a year-over-year increase of 4.7%.
• The company announced a quarterly dividend of $0.55, set to be paid on November 10th, which represents a 1.6% dividend yield based on its annualized payout.

LVM Capital Management Ltd. MI purchased a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,600 shares of the basic materials company's stock, valued at approximately $466,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Highline Wealth Partners LLC grew its holdings in Nucor by 2.6% in the 1st quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company's stock worth $423,000 after buying an additional 90 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in Nucor by 2.2% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,247 shares of the basic materials company's stock worth $511,000 after buying an additional 93 shares in the last quarter. Diligent Investors LLC grew its holdings in Nucor by 4.6% in the 1st quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company's stock worth $276,000 after buying an additional 102 shares in the last quarter. Denali Advisors LLC boosted its stake in Nucor by 2.5% during the 1st quarter. Denali Advisors LLC now owns 4,117 shares of the basic materials company's stock valued at $495,000 after purchasing an additional 102 shares in the last quarter. Finally, Horizon Advisory Services Inc. boosted its stake in Nucor by 6.1% during the 1st quarter. Horizon Advisory Services Inc. now owns 1,962 shares of the basic materials company's stock valued at $236,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Price Performance

NUE opened at $141.47 on Friday. The stock has a fifty day moving average of $143.11 and a 200-day moving average of $128.45. The firm has a market capitalization of $32.47 billion, a P/E ratio of 25.54, a PEG ratio of 0.91 and a beta of 1.76. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE - Get Free Report) last released its 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. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 earnings per share. Equities analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction on 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 completion of the sale, the executive vice president owned 82,703 shares in the company, valued at $11,857,956.14. This represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel R. Needham sold 7,200 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $146.00, for a total value of $1,051,200.00. Following the completion of the sale, the executive vice president owned 92,179 shares of the company's stock, valued at $13,458,134. The trade was a 7.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,397 shares of company stock worth $6,763,814 over the last three months. Company insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NUE. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and increased their price target for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. Wells Fargo & Company upgraded Nucor to a "hold" rating in a research report on Thursday, August 14th. Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and increased their price objective for the company from $135.00 to $170.00 in a research report on Thursday, July 31st. UBS Group cut their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. increased their price objective on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $155.78.

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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