Palisade Capital Management LP Buys Shares of 2,187 Nucor Corporation $NUE

Palisade Capital Management LP purchased a new stake in Nucor Corporation (NYSE:NUE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,187 shares of the basic materials company’s stock, valued at approximately $487,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in Nucor during the 2nd quarter valued at $27,000. Bell Investment Advisors Inc acquired a new position in shares of Nucor in the second quarter worth $28,000. Strive Financial Group LLC purchased a new stake in shares of Nucor in the fourth quarter valued at $27,000. Stance Capital LLC purchased a new stake in shares of Nucor in the third quarter valued at $25,000. Finally, Bartlett & CO. Wealth Management LLC boosted its stake 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 valued at $32,000 after acquiring an additional 63 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This represents a 19.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the transaction, the executive vice president directly owned 97,865 shares in the company, valued at $25,294,187.90. The trade was a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,528 shares of company stock worth $4,793,035 in the last 90 days. 0.62% of the stock is owned by corporate insiders.

Nucor Price Performance

NUE stock opened at $252.69 on Thursday. The stock has a 50-day moving average price of $246.35 and a two-hundred day moving average price of $218.33. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The company has a market cap of $57.33 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89.

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

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were issued a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor’s dividend payout ratio is currently 17.86%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup restated a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. CICC Research assumed coverage on shares of Nucor in a research report on Monday, May 25th. They set an “outperform” rating on the stock. Bank of America lowered their target price on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. BMO Capital Markets boosted their price target on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Finally, Wall Street Zen raised Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.38.

About Nucor

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.