Nucor Corporation $NUE Shares Bought by Beacon Capital Management LLC

Beacon Capital Management LLC increased its position in shares of Nucor Corporation (NYSE:NUE) by 431.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,981 shares of the basic materials company’s stock after acquiring an additional 1,608 shares during the quarter. Beacon Capital Management LLC’s holdings in Nucor were worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in Nucor by 17.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company’s stock valued at $3,853,000 after purchasing an additional 4,763 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Nucor by 21.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company’s stock valued at $12,210,000 after buying an additional 17,861 shares during the period. Assenagon Asset Management S.A. lifted its position in Nucor by 20.5% in the first quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company’s stock valued at $3,476,000 after buying an additional 4,914 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Nucor by 12.4% during the first quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company’s stock worth $36,704,000 after buying an additional 33,700 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Nucor by 48.6% during the first quarter. GAMMA Investing LLC now owns 4,203 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 1,375 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NUE has been the subject of several research reports. The Goldman Sachs Group dropped their target price on shares of Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Wells Fargo & Company cut their price objective on Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, September 18th. Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and raised their target price for the company from $135.00 to $170.00 in a report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Finally, BMO Capital Markets raised shares of Nucor from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.60.

Insider Activity at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the transaction, the executive vice president owned 84,080 shares in the company, valued at $12,183,192. This represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Daniel R. Needham sold 7,200 shares of Nucor 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 sale, the executive vice president owned 92,179 shares in the company, valued at $13,458,134. This trade represents a 7.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,309 shares of company stock worth $4,553,771. Corporate insiders own 0.46% of the company’s stock.

Nucor Price Performance

Nucor stock opened at $138.13 on Friday. The stock has a market cap of $31.71 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 0.95 and a beta of 1.76. The company has a fifty day simple moving average of $142.54 and a 200-day simple moving average of $128.78. 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 12-month low of $97.59 and a 12-month high of $170.52.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) 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 company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same period in the previous year, the business earned $2.68 EPS. Nucor’s revenue for the quarter was up 4.7% on a year-over-year basis. Equities analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

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

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.