Hilltop National Bank Invests $115,000 in Nucor Corporation $NUE

Hilltop National Bank bought a new position in Nucor Corporation (NYSE:NUE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 887 shares of the basic materials company’s stock, valued at approximately $115,000.

Other hedge funds have also bought and sold shares of the company. NBC Securities Inc. lifted its stake in Nucor by 132,300.0% during the first quarter. NBC Securities Inc. now owns 1,324 shares of the basic materials company’s stock worth $159,000 after purchasing an additional 1,323 shares during the last quarter. RFG Advisory LLC boosted its position in Nucor by 6.7% during the first quarter. RFG Advisory LLC now owns 2,393 shares of the basic materials company’s stock valued at $288,000 after buying an additional 150 shares during the period. Generali Investments Management Co LLC purchased a new stake in Nucor during the 1st quarter valued at about $214,000. Procyon Advisors LLC lifted its position in Nucor by 26.4% in the first quarter. Procyon Advisors LLC now owns 19,656 shares of the basic materials company’s stock valued at $2,318,000 after purchasing an additional 4,103 shares during the last quarter. Finally, Butensky & Cohen Financial Security Inc. raised its holdings in Nucor by 3.3% during the 1st quarter. Butensky & Cohen Financial Security Inc. now owns 27,758 shares of the basic materials company’s stock valued at $3,340,000 after buying an additional 883 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Down 0.7%

Shares of Nucor stock opened at $137.98 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The company has a fifty day moving average of $141.84 and a 200 day moving average of $129.00. The company has a market capitalization of $31.67 billion, a P/E ratio of 24.91, a P/E/G ratio of 0.95 and a beta of 1.75. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The firm had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the prior year, the company posted $2.68 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s payout ratio is 39.71%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NUE. Wells Fargo & Company reduced their target price on Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 18th. The Goldman Sachs Group dropped their price objective on shares of Nucor from $182.00 to $173.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. JPMorgan Chase & Co. boosted their target price on Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a report on Saturday, September 27th. Finally, Morgan Stanley lifted their price objective on Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.60.

Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 8,021 shares of the firm’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the completion of the transaction, the executive vice president directly owned 82,703 shares of the company’s stock, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael D. Keller sold 6,088 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total transaction of $903,520.08. Following the completion of the sale, the insider owned 22,464 shares in the company, valued at approximately $3,333,882.24. The trade was a 21.32% 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 three months. Insiders own 0.46% of the company’s stock.

Nucor 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.