Grandfield & Dodd LLC Takes Position in Nucor Corporation $NUE

Grandfield & Dodd LLC purchased a new position in Nucor Corporation (NYSE:NUE) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 1,975 shares of the basic materials company’s stock, valued at approximately $440,000.

Several other large investors have also recently made changes to their positions in NUE. Stance Capital LLC acquired a new position in Nucor in the 3rd quarter valued at $25,000. Strive Financial Group LLC purchased a new position in Nucor in the 4th quarter valued at $27,000. Bell Investment Advisors Inc acquired a new stake in Nucor during the 2nd quarter worth $28,000. Motiv8 Investments LLC acquired a new stake in Nucor during the 4th quarter worth $32,000. Finally, Bartlett & CO. Wealth Management LLC grew its holdings in shares of Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after buying an additional 63 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the sale, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. This trade represents a 9.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the sale, the executive vice president directly owned 16,138 shares in the company, valued at approximately $4,212,340.76. The trade was a 19.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 18,528 shares of company stock valued at $4,793,035 in the last 90 days. Company insiders own 0.62% of the company’s stock.

Nucor Stock Up 1.4%

NYSE NUE opened at $272.73 on Tuesday. The business’s fifty day simple moving average is $247.54 and its 200-day simple moving average is $215.03. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The firm has a market cap of $61.88 billion, a PE ratio of 21.75, a P/E/G ratio of 0.60 and a beta of 1.89. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the prior year, the firm posted $2.60 earnings per share. Nucor’s quarterly revenue was up 23.0% on a year-over-year basis. As a group, equities analysts anticipate that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were paid a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. Nucor’s dividend payout ratio is 17.86%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays increased their target price on shares of Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. The Goldman Sachs Group upped their price objective on shares of Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Seaport Research Partners increased their price objective on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. BNP Paribas Exane increased their price objective on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Finally, UBS Group raised their target price on shares of Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $273.31.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.