Physicians Financial Services Inc. Buys 3,360 Shares of Nucor Corporation (NYSE:NUE)

Key Points

• Physicians Financial Services Inc. significantly increased its holdings in Nucor Corporation by 112.9% during the first quarter, owning a total of 6,335 shares valued at approximately $762,000.
• Several institutional investors have also modified their stakes in Nucor, contributing to 76.48% of the company's stock being held by such investors.
• Analysts have mixed ratings for Nucor, with consensus ratings ranging from "sell" to "strong buy," and a price target consensus set at $152.75.

Physicians Financial Services Inc. raised its position in Nucor Corporation (NYSE:NUE - Free Report) by 112.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,335 shares of the basic materials company's stock after purchasing an additional 3,360 shares during the quarter. Physicians Financial Services Inc.'s holdings in Nucor were worth $762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor in the fourth quarter valued at about $25,000. Putney Financial Group LLC acquired a new stake in shares of Nucor in the fourth quarter valued at about $29,000. MV Capital Management Inc. increased its stake in shares of Nucor by 73.5% in the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock valued at $34,000 after buying an additional 119 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Nucor in the fourth quarter valued at about $41,000. Finally, Spirit of America Management Corp NY acquired a new stake in shares of Nucor in the first quarter valued at about $48,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Buying and Selling at Nucor

In other news, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the transaction, the executive vice president owned 94,080 shares in the company, valued at $12,265,209.60. This trade represents a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel R. Needham sold 7,088 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total value of $906,342.56. Following the completion of the transaction, the executive vice president owned 99,379 shares in the company, valued at $12,707,592.73. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,326 shares of company stock valued at $6,325,108. Company insiders own 0.71% of the company's stock.

Nucor Stock Down 0.9%

Nucor stock traded down $1.31 during mid-day trading on Monday, reaching $144.52. The stock had a trading volume of 2,385,953 shares, compared to its average volume of 1,574,096. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The stock's 50-day simple moving average is $128.22 and its 200-day simple moving average is $125.24. The firm has a market capitalization of $33.35 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 0.93 and a beta of 1.70.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.54 by $0.06. Nucor had a return on equity of 6.82% and a net margin of 4.40%. During the same period in the previous year, the firm earned $2.68 earnings per share. The firm's revenue was up 4.7% on a year-over-year basis. On average, sell-side analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.52%. Nucor's dividend payout ratio (DPR) is presently 39.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NUE shares. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. UBS Group decreased their target price on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Morgan Stanley raised their target price on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. raised their target price on Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Nucor presently has an average rating of "Moderate Buy" and a consensus price target of $152.75.

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.