Stonehage Fleming Financial Services Holdings Ltd Takes $570,000 Position in Nucor Corporation $NUE

Key Points

• Stonehage Fleming Financial Services Holdings Ltd acquired a $570,000 stake in Nucor Corporation, purchasing 4,400 shares during the second quarter.
• Insider Michael D. Keller sold 6,088 shares of Nucor, reducing his position by 21.32%, while EVP Daniel R. Needham sold 7,200 shares, resulting in a 7.24% decrease in his holdings.
• Analysts have varying outlooks on Nucor, with eight giving a "Buy" rating and an average target price of $156.60, while JPMorgan Chase increased its price objective to $162.00.

Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Nucor Corporation (NYSE:NUE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,400 shares of the basic materials company's stock, valued at approximately $570,000.

Other large investors have also modified their holdings of the company. Matrix Trust Co grew its stake in shares of Nucor by 53.8% in the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company's stock valued at $31,000 after buying an additional 84 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after buying an additional 153 shares in the last quarter. Spirit of America Management Corp NY acquired a new stake in shares of Nucor in the first quarter valued at about $48,000. Meeder Asset Management Inc. grew its stake in shares of Nucor by 209.6% in the first quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company's stock valued at $50,000 after buying an additional 283 shares in the last quarter. Finally, Putney Financial Group LLC grew its stake in shares of Nucor by 86.8% in the first quarter. Putney Financial Group LLC now owns 467 shares of the basic materials company's stock valued at $56,000 after buying an additional 217 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Transactions at Nucor

In other news, insider Michael D. Keller sold 6,088 shares of Nucor stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the transaction, the insider owned 22,464 shares in the company, valued at approximately $3,333,882.24. This trade represents a 21.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel R. Needham sold 7,200 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was 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 directly owned 92,179 shares in the company, valued at approximately $13,458,134. This trade represents a 7.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,309 shares of company stock worth $4,553,771 in the last quarter. Insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and raised their price objective for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Wells Fargo & Company lowered their price objective on Nucor from $146.00 to $140.00 and set an "equal weight" rating for the company in a research note on Thursday, September 18th. Bank of America raised their price objective on Nucor from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Nucor in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Nucor has an average rating of "Moderate Buy" and an average target price of $156.60.

Nucor Price Performance

Shares of NUE opened at $133.68 on Friday. The firm has a market cap of $30.68 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 0.92 and a beta of 1.75. The stock has a 50 day moving average of $141.25 and a 200-day moving average of $129.32. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. 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 EPS for the quarter, topping the consensus estimate 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 business's revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.68 EPS. As a group, analysts forecast that Nucor Corporation will post 7.64 EPS 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 given 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 (DPR) is presently 39.71%.

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.

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