InvesTrust Has $2.26 Million Stock Holdings in Nucor Corporation $NUE

InvesTrust lessened its stake in shares of Nucor Corporation (NYSE:NUE) by 54.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,478 shares of the basic materials company’s stock after selling 20,899 shares during the period. InvesTrust’s holdings in Nucor were worth $2,264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC lifted its holdings in shares of Nucor by 2.6% during the first quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company’s stock valued at $423,000 after acquiring an additional 90 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Nucor by 2.2% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 4,247 shares of the basic materials company’s stock valued at $511,000 after acquiring an additional 93 shares during the period. Diligent Investors LLC lifted its holdings in shares of Nucor by 4.6% during the first quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company’s stock valued at $276,000 after acquiring an additional 102 shares during the period. Denali Advisors LLC lifted its holdings in shares of Nucor by 2.5% during the first quarter. Denali Advisors LLC now owns 4,117 shares of the basic materials company’s stock valued at $495,000 after acquiring an additional 102 shares during the period. Finally, Horizon Advisory Services Inc. lifted its holdings in shares of Nucor by 6.1% during the first quarter. Horizon Advisory Services Inc. now owns 1,962 shares of the basic materials company’s stock valued at $236,000 after acquiring an additional 112 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Morgan Stanley lifted their price objective on Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, June 20th. Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and lifted their price target for the company from $135.00 to $170.00 in a report on Thursday, July 31st. UBS Group cut their price target on Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Wells Fargo & Company raised Nucor to a “hold” rating in a report on Thursday, August 14th. Finally, JPMorgan Chase & Co. lifted their price target on Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and an average target price of $155.78.

Insider Transactions at Nucor

In other news, EVP Kenneth Rex Query sold 10,000 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $144.90, for a total transaction of $1,449,000.00. Following the completion of the transaction, the executive vice president directly owned 84,080 shares in the company, valued at approximately $12,183,192. The trade was a 10.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel R. Needham sold 7,200 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $13,458,134. The trade was a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,397 shares of company stock valued at $6,763,814 in the last three months. Company insiders own 0.46% of the company’s stock.

Nucor Price Performance

Shares of NUE stock opened at $141.47 on Friday. The stock has a 50-day moving average price of $143.11 and a 200 day moving average price of $128.45. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The firm has a market cap of $32.47 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 0.91 and a beta of 1.76. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. The firm 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 company’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $2.68 earnings per share. Research analysts expect 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. Investors of record on Tuesday, September 30th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Tuesday, September 30th. Nucor’s dividend payout ratio (DPR) is presently 39.71%.

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.