Field & Main Bank Purchases Shares of 5,550 Nucor Corporation $NUE

Field & Main Bank purchased a new stake in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,550 shares of the basic materials company’s stock, valued at approximately $1,236,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its holdings in shares of Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after buying an additional 568 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Nucor during the first quarter worth about $259,000. Geneos Wealth Management Inc. raised its position in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 153 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Nucor in the second quarter worth about $390,000. Finally, Cerity Partners LLC lifted its holdings in Nucor by 51.9% in the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after acquiring an additional 13,877 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NUE stock opened at $250.84 on Friday. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11. The firm has a 50-day moving average of $246.64 and a two-hundred day moving average of $218.97. The firm has a market capitalization of $56.91 billion, a PE ratio of 20.00, a P/E/G ratio of 0.94 and a beta of 1.89. 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 (NYSE:NUE) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. During the same period last year, the firm posted $2.60 earnings per share. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The company 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. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s payout ratio is presently 17.86%.

Wall Street Analyst Weigh In

NUE has been the subject of several research reports. BNP Paribas Exane raised their price objective on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Seaport Research Partners increased their target price on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Morgan Stanley set a $270.00 target price on shares of Nucor in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, Wells Fargo & Company dropped their price target on Nucor from $297.00 to $285.00 and set an “overweight” rating on the stock in a report on Monday, August 24th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $272.38.

Insider Buying and Selling at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction 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 sale, the executive vice president directly 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction on 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 completion of the sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at $20,008,704.32. The trade was a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,528 shares of company stock valued at $4,793,035 in the last three months. 0.62% of the stock is currently owned by company insiders.

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.