Nucor Corporation $NUE Stock Position Raised by SPC Financial Inc.

SPC Financial Inc. lifted its stake in shares of Nucor Corporation (NYSE:NUE) by 5.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,182 shares of the basic materials company’s stock after acquiring an additional 500 shares during the quarter. SPC Financial Inc.’s holdings in Nucor were worth $1,319,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 745,671 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 acquiring an additional 355,364 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 acquiring an additional 92,363 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of Nucor during the 1st quarter worth $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 acquiring an additional 226,343 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NUE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research report on Wednesday. Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and raised their target price for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. The Goldman Sachs Group decreased their target price on Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. JPMorgan Chase & Co. raised their target price on Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Finally, Morgan Stanley raised their target price on Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Nucor currently 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 firm’s stock in a transaction dated 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 directly owned 82,703 shares in the company, valued at $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 84,080 shares in the company, valued at approximately $12,183,192. This trade represents a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,309 shares of company stock valued at $4,553,771 in the last three months. 0.46% of the stock is currently owned by insiders.

Nucor Price Performance

Shares of NYSE:NUE opened at $133.68 on Friday. 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 1 year low of $97.59 and a 1 year high of $170.52. The business has a fifty day simple moving average of $141.25 and a 200 day simple moving average of $129.32. The firm has a market cap of $30.68 billion, a price-to-earnings ratio of 24.13, a P/E/G ratio of 0.92 and a beta of 1.75.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $8.47 billion. During the same period last year, the company earned $2.68 earnings per share. Nucor’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, sell-side analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal 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 issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 30th. Nucor’s dividend payout ratio (DPR) is currently 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.