Nucor Corporation $NUE Shares Bought by Sowell Financial Services LLC

Key Points

• Sowell Financial Services LLC increased its stake in Nucor Corporation by 65.5%, owning a total of 8,566 shares valued at approximately $1.11 million after acquiring additional shares in Q2.
• Recent insider sales include EVP Kenneth Rex Query selling 10,000 shares for about $1.45 million, indicating a 10.63% decrease in ownership.
• Nucor announced a quarterly dividend of $0.55, with an expected annualized yield of 1.6%, and the stock has recently received positive upgrades from various analysts.

Sowell Financial Services LLC raised its stake in Nucor Corporation (NYSE:NUE - Free Report) by 65.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,566 shares of the basic materials company's stock after acquiring an additional 3,391 shares during the quarter. Sowell Financial Services LLC's holdings in Nucor were worth $1,110,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted 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 acquiring an additional 745,671 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of 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 buying an additional 355,364 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of 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 buying an additional 92,363 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of Nucor in the first quarter valued at approximately $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 buying an additional 226,343 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the sale, the executive vice president directly owned 84,080 shares in the company, valued at $12,183,192. This represents a 10.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 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 approximately $13,458,134. The trade was a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,309 shares of company stock valued at $5,857,471 in the last quarter. Corporate insiders own 0.71% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on NUE shares. JPMorgan Chase & Co. boosted 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. Bank of America boosted their price objective on Nucor from $150.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, September 15th. 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. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. Finally, Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and boosted their price target for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $156.20.

Nucor Stock Up 0.5%

Shares of NYSE:NUE opened at $135.30 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $142.74 and a two-hundred day moving average of $128.63. The stock has a market cap of $31.05 billion, a P/E ratio of 24.42, a PEG ratio of 0.92 and a beta of 1.76. 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 issued its earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.06. The company had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The firm's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.68 EPS. On average, research analysts expect that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

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

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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