Monetta Financial Services Inc. Invests $2.34 Million in Nucor Corporation $NUE

Monetta Financial Services Inc. purchased a new stake in Nucor Corporation (NYSE:NUE) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 10,500 shares of the basic materials company’s stock, valued at approximately $2,339,000. Nucor makes up approximately 1.6% of Monetta Financial Services Inc.’s holdings, making the stock its 15th biggest holding.

A number of other large investors have also modified their holdings of NUE. Bell Investment Advisors Inc purchased a new stake in Nucor during the 2nd quarter valued at about $28,000. Strive Financial Group LLC purchased a new stake in Nucor in the fourth quarter valued at $27,000. Stance Capital LLC acquired a new position in Nucor in the third quarter valued at about $25,000. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Nucor by 49.2% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 63 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of Nucor during the fourth quarter worth $32,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, COO Stephen D. Laxton sold 3,968 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. 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 on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, the executive vice president owned 97,865 shares of the company’s stock, 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. In the last ninety days, insiders have sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on NUE. BNP Paribas Exane boosted their target price on Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Barclays raised their price objective on Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Morgan Stanley set a $270.00 price target on shares of Nucor in a research report on Wednesday, July 29th. KeyCorp raised Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price objective for the company in a research report on Wednesday, June 24th. Finally, Citigroup reaffirmed a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.31.

Nucor Price Performance

Nucor stock opened at $248.72 on Thursday. The firm has a fifty day moving average of $247.72 and a 200-day moving average of $216.16. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $280.11. The firm has a market capitalization of $56.43 billion, a P/E ratio of 19.83, a PEG ratio of 0.59 and a beta of 1.89.

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

Nucor Dividend Announcement

The business also recently declared 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. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s payout ratio is 17.86%.

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.