MBB Public Markets I LLC Purchases New Stake in Nucor Corporation $NUE

Key Points

• MBB Public Markets I LLC has invested $295,000 in 2,449 shares of Nucor Corporation during the first quarter.
• Several institutional investors significantly changed their positions in Nucor, with Coppell Advisory Solutions LLC increasing their stake by over 6,275%.
• Nucor's quarterly earnings report revealed an EPS of $2.60, exceeding analysts' expectations, and the company also announced a quarterly dividend of $0.55.

MBB Public Markets I LLC bought a new stake in Nucor Corporation (NYSE:NUE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,449 shares of the basic materials company's stock, valued at approximately $295,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Nucor by 2.6% in the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company's stock valued at $3,484,965,000 after purchasing an additional 745,671 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Nucor by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company's stock valued at $277,920,000 after purchasing an additional 355,364 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Nucor by 5.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,772,831 shares of the basic materials company's stock valued at $213,342,000 after purchasing an additional 92,363 shares during the period. Diamond Hill Capital Management Inc. purchased a new stake in Nucor in the first quarter valued at approximately $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Nucor by 16.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,610,933 shares of the basic materials company's stock valued at $193,863,000 after purchasing an additional 226,343 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NUE shares. Morgan Stanley boosted their target price on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Bank of America boosted their price objective on shares of Nucor from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday. UBS Group decreased their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Jefferies Financial Group upgraded shares of Nucor from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. Finally, BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $156.80.

Nucor Stock Up 0.1%

Shares of NUE stock traded up $0.13 on Monday, hitting $141.48. The stock had a trading volume of 1,547,958 shares, compared to its average volume of 2,351,371. The firm has a market capitalization of $32.48 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 0.89 and a beta of 1.76. The stock's 50 day moving average is $143.11 and its 200-day moving average is $128.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52.

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

Nucor Announces Dividend

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

Insider Activity at Nucor

In related news, EVP Kenneth Rex Query sold 10,000 shares of the company's stock in a transaction 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 of the company's stock, valued at $12,183,192. This represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Daniel R. Needham sold 7,200 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the completion of the sale, the executive vice president directly owned 92,179 shares in the company, valued at $13,458,134. This represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,397 shares of company stock valued at $6,763,814. Insiders own 0.71% of the company's stock.

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.