Valeo Financial Advisors LLC Buys 2,688 Shares of Nucor Corporation $NUE

Key Points

• Valeo Financial Advisors LLC increased its stake in Nucor Corporation by 72.3%, acquiring an additional 2,688 shares in Q2, bringing their total holdings to 6,405 shares valued at $830,000.
• Nucor reported $2.60 EPS for the quarter, beating estimates, with a revenue of $8.46 billion, reflecting a 4.7% year-over-year increase.
• The company announced a quarterly dividend of $0.55 per share, scheduled for payment on November 10th, representing a yield of 1.6%.

Valeo Financial Advisors LLC grew its stake in Nucor Corporation (NYSE:NUE - Free Report) by 72.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,405 shares of the basic materials company's stock after acquiring an additional 2,688 shares during the quarter. Valeo Financial Advisors LLC's holdings in Nucor were worth $830,000 at the end of the most recent quarter.

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

Nucor Trading Up 1.4%

Shares of Nucor stock opened at $137.73 on Thursday. The business has a fifty day simple moving average of $141.45 and a two-hundred day simple moving average of $129.19. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52. The company has a market capitalization of $31.61 billion, a price-to-earnings ratio of 24.86, a P/E/G ratio of 0.94 and a beta of 1.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly 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. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The business had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter last year, the firm posted $2.68 EPS. The company's quarterly revenue was up 4.7% on a year-over-year basis. Research analysts forecast that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on NUE. Jefferies Financial Group raised Nucor from a "hold" rating to a "buy" rating and increased their target price for the stock from $135.00 to $170.00 in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased 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. Wells Fargo & Company lowered their target price 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. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nucor in a research note on Wednesday. Finally, Bank of America raised their price target on shares of Nucor from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Nucor has a consensus rating of "Moderate Buy" and a consensus price target of $156.60.

Insider Transactions at Nucor

In other Nucor news, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the transaction, the executive vice president owned 82,703 shares in the company, valued at $11,857,956.14. This trade represents a 8.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel R. Needham sold 7,200 shares of the stock in a transaction 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 transaction, the executive vice president owned 92,179 shares in the company, valued at $13,458,134. The trade was a 7.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,309 shares of company stock worth $4,553,771 over the last quarter. 0.46% of the stock is currently owned by corporate insiders.

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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