2,618 Shares of Nucor Corporation $NUE Acquired by Polaris Financial Partners

by · The Markets Daily

Polaris Financial Partners bought a new position in Nucor Corporation (NYSE:NUE – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,618 shares of the basic materials company’s stock, valued at approximately $619,000.

Other large investors have also made changes to their positions in the company. RKL Wealth Management LLC raised its stake in Nucor by 0.9% during the 1st quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company’s stock valued at $899,000 after purchasing an additional 48 shares during the period. Focus Financial Network Inc. raised its position in Nucor by 3.6% during the second quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company’s stock valued at $316,000 after buying an additional 49 shares during the period. Moody National Bank Trust Division raised its position in Nucor by 4.6% during the second quarter. Moody National Bank Trust Division now owns 1,396 shares of the basic materials company’s stock valued at $311,000 after buying an additional 62 shares during the period. Bartlett & CO. Wealth Management LLC lifted its stake in 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 in the last quarter. Finally, Boltwood Capital Management boosted its position in Nucor by 4.3% during the 3rd quarter. Boltwood Capital Management now owns 1,560 shares of the basic materials company’s stock worth $365,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Up 1.8%

NYSE NUE traded up $4.33 during trading on Friday, reaching $240.31. The company’s stock had a trading volume of 1,052,856 shares, compared to its average volume of 1,566,693. 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 stock has a market capitalization of $54.52 billion, a PE ratio of 19.16, a PEG ratio of 0.83 and a beta of 1.84. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11. The business has a 50-day moving average price of $256.23 and a 200-day moving average price of $231.70.

Nucor (NYSE:NUE – Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS 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 company had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the prior year, the business posted $2.60 EPS. Nucor’s quarterly revenue was up 23.0% on a year-over-year basis. On average, research analysts forecast that Nucor Corporation will post 18.89 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, September 30th. Nucor’s dividend payout ratio (DPR) is 17.86%.

Insider Transactions at Nucor

In related news, COO Stephen D. Laxton sold 3,968 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the transaction, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business’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 completion of the sale, the executive vice president owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on NUE. Freedom Broker cut Nucor from a “buy” rating to a “hold” rating and lowered their target price for the company from $305.00 to $285.00 in a research note on Friday, September 18th. Morgan Stanley set a $270.00 price objective on shares of Nucor in a research note on Wednesday, July 29th. Bank of America decreased 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. Weiss Ratings upgraded shares of Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 25th. Finally, The Goldman Sachs Group dropped their price target on shares of Nucor from $304.00 to $302.00 and set a “buy” rating on the stock in a research note on Friday, September 18th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $276.07.

Read Our Latest Stock Report on Nucor

Nucor Profile

(Free Report)

Nucor Corporation is a Charlotte, North Carolina-based steel producer and one of the largest steel companies in North America. The company operates electric arc furnace (EAF) steel mills that use recycled scrap steel as a primary raw material, along with facilities that manufacture and process steel products for construction, manufacturing, transportation, energy and other industrial markets.

Nucor’s product portfolio includes carbon and alloy steel in sheet, plate, bar and structural forms, as well as reinforcing steel, wire and wire mesh.

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