115,531 Shares in Nucor Corporation $NUE Purchased by Freestone Grove Partners LP

Freestone Grove Partners LP acquired a new position in Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 115,531 shares of the basic materials company’s stock, valued at approximately $25,735,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NUE. BlackRock Inc. purchased a new stake in shares of Nucor during the 2nd quarter worth approximately $4,452,563,000. Morgan Stanley increased its position in Nucor by 1.1% in the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after buying an additional 41,728 shares during the last quarter. Norges Bank bought a new stake in shares of Nucor in the fourth quarter valued at $609,002,000. Dimensional Fund Advisors LP raised its stake in shares of Nucor by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after buying an additional 22,718 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Nucor by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,919,883 shares of the basic materials company’s stock valued at $313,152,000 after buying an additional 56,565 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Trading Down 0.2%

Shares of Nucor stock opened at $252.19 on Friday. The company’s 50-day moving average price is $246.51 and its 200-day moving average price is $218.75. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11. The company has a market cap of $57.21 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 0.94 and a beta of 1.89.

Nucor (NYSE:NUE) last posted its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the prior year, the firm posted $2.60 EPS. Nucor’s revenue was up 23.0% on a year-over-year basis. On average, equities analysts expect that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were issued a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor’s dividend payout ratio is presently 17.86%.

Wall Street Analysts Forecast Growth

NUE has been the subject of several research reports. The Goldman Sachs Group increased their price target on Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Bank of America dropped their price objective on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. JPMorgan Chase & Co. increased their target price on shares of Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Wells Fargo & Company lowered their price target on shares of Nucor from $297.00 to $285.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, KeyCorp upgraded shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price target on the stock in a research note on Wednesday, June 24th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average price target of $272.38.

Insider Buying and Selling

In related news, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction 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 sale, the executive vice president directly owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This represents a 19.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 18,528 shares of company stock worth $4,793,035. Corporate insiders own 0.62% of the company’s stock.

Nucor Company 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.