Praxis Investment Management Inc. Acquires 490 Shares of Nucor Corporation $NUE

Praxis Investment Management Inc. boosted its holdings in shares of Nucor Corporation (NYSE:NUE) by 8.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,410 shares of the basic materials company’s stock after buying an additional 490 shares during the quarter. Praxis Investment Management Inc.’s holdings in Nucor were worth $830,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NUE. GAMMA Investing LLC grew its position in 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 buying an additional 1,375 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Nucor by 21.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company’s stock worth $12,210,000 after purchasing an additional 17,861 shares during the period. Dynamic Advisor Solutions LLC bought a new position in shares of Nucor in the first quarter worth approximately $233,000. Sowell Financial Services LLC bought a new position in shares of Nucor in the first quarter worth approximately $623,000. Finally, Cornerstone Wealth Management LLC boosted its position in shares of Nucor by 6.4% in the first quarter. Cornerstone Wealth Management LLC now owns 2,518 shares of the basic materials company’s stock worth $303,000 after purchasing an additional 152 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction on Monday, August 18th. The shares were 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 owned 84,080 shares in the company, valued at $12,183,192. This trade represents a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Allen C. Behr sold 8,021 shares of the 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 transaction, the executive vice president owned 82,703 shares of the company’s stock, valued at $11,857,956.14. This trade represents a 8.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,309 shares of company stock worth $4,553,771 over the last three months. 0.46% of the stock is owned by company insiders.

Nucor Price Performance

NUE stock opened at $131.70 on Friday. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The company’s fifty day moving average price is $140.92 and its 200-day moving average price is $129.72. 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 market capitalization of $30.23 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 0.94 and a beta of 1.75.

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

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 annualized dividend and a yield of 1.7%. Nucor’s dividend payout ratio (DPR) is 39.71%.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their price target on shares of Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Nucor from $165.00 to $172.00 and gave the stock an “overweight” rating in a research report on Monday, October 13th. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and upped their price target for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Finally, Wells Fargo & Company lowered their target price on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, September 18th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.60.

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.