Pallas Capital Advisors LLC Invests $1.02 Million in Nucor Corporation $NUE

Key Points

• Pallas Capital Advisors acquired 4,569 Nucor shares valued at approximately $1.02 million, while institutional investors collectively own 76.48% of the company.
• Nucor reported quarterly earnings of $4.84 per share, exceeding estimates of $4.46, with revenue rising 23% year over year to $10.40 billion.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $273.31, while Nucor recently paid a quarterly dividend of $0.56 per share.

Pallas Capital Advisors LLC acquired a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 4,569 shares of the basic materials company's stock, valued at approximately $1,018,000.

A number of other institutional investors have also recently made changes to their positions in the business. Stance Capital LLC purchased a new stake in Nucor in the third quarter valued at about $25,000. Strive Financial Group LLC purchased a new stake in shares of Nucor during the fourth quarter worth about $27,000. Bell Investment Advisors Inc acquired a new position in shares of Nucor during the second quarter valued at about $28,000. Motiv8 Investments LLC acquired a new position in shares of Nucor during the fourth quarter valued at about $32,000. Finally, Bartlett & CO. Wealth Management LLC raised its position in shares of Nucor by 49.2% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Activity at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 97,865 shares of the company's stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the sale, the executive vice president owned 16,138 shares of the company's stock, valued at $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,528 shares of company stock worth $4,793,035 in the last 90 days. Corporate insiders own 0.62% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NUE. Barclays lifted their price objective on shares of Nucor from $272.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Seaport Research Partners upped their target price on Nucor from $245.00 to $285.00 and gave the company a "buy" rating in a research report on Wednesday, June 10th. Bank of America reduced their target price on Nucor from $290.00 to $280.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. UBS Group lifted their price target on Nucor from $224.00 to $256.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 28th. Finally, BMO Capital Markets boosted their price target on Nucor from $285.00 to $295.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Nucor presently has a consensus rating of "Moderate Buy" and an average price target of $273.31.

Nucor Stock Performance

NUE opened at $264.74 on Wednesday. The firm has a fifty day moving average price of $247.76 and a 200 day moving average price of $215.68. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11. The stock has a market cap of $60.06 billion, a P/E ratio of 21.11, a P/E/G ratio of 0.60 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36.

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

Nucor Announces Dividend

The firm 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Nucor's payout ratio is currently 17.86%.

Nucor 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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