1,975 Shares in Nucor Corporation $NUE Acquired by Grandfield & Dodd LLC

Grandfield & Dodd LLC purchased a new position in shares of Nucor Corporation (NYSE:NUE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,975 shares of the basic materials company’s stock, valued at approximately $440,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Nucor by 745.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after buying an additional 73,588 shares during the period. California Public Employees Retirement System grew its holdings in Nucor by 19.3% during the first quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock worth $86,297,000 after acquiring an additional 82,668 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Nucor by 21.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,371 shares of the basic materials company’s stock worth $7,400,000 after acquiring an additional 8,097 shares during the period. Pacific Heights Asset Management LLC raised its position in Nucor by 12.9% during the fourth quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock valued at $28,544,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Nucor by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock valued at $306,054,000 after acquiring an additional 29,476 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Performance

Shares of NUE stock opened at $272.73 on Tuesday. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11. The business’s 50 day moving average is $247.54 and its two-hundred day moving average is $215.03. The company has a market capitalization of $61.88 billion, a P/E ratio of 21.75, a P/E/G ratio of 0.60 and a beta of 1.89.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the previous year, the business earned $2.60 earnings per share. The business’s revenue was up 23.0% compared to the same quarter last year. Analysts expect that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.56 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. Nucor’s dividend payout ratio is currently 17.86%.

Insiders Place Their Bets

In other news, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was 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 of the company’s stock, valued at $4,212,340.76. This represents a 19.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 18,528 shares of company stock worth $4,793,035. Company insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group upped their price objective on Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. BNP Paribas Exane lifted their target price on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. BMO Capital Markets boosted their target price on shares of Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, Jefferies Financial Group raised their price target on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $273.31.

Nucor 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.