Farmers & Merchants Trust Co of Chambersburg PA Grows Stock Position in Nucor Corporation $NUE

Farmers & Merchants Trust Co of Chambersburg PA grew its position in Nucor Corporation (NYSE:NUE) by 3.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,995 shares of the basic materials company’s stock after acquiring an additional 387 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Nucor were worth $1,683,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Putney Financial Group LLC purchased a new position in Nucor during the fourth quarter worth approximately $29,000. MV Capital Management Inc. lifted its position in Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company’s stock worth $34,000 after buying an additional 119 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after buying an additional 153 shares in the last quarter. Fourth Dimension Wealth LLC purchased a new position in Nucor during the fourth quarter worth approximately $41,000. Finally, Spirit of America Management Corp NY purchased a new position in Nucor during the first quarter worth approximately $48,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 7,200 shares of Nucor stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the completion of the sale, the executive vice president directly owned 92,179 shares of the company’s stock, valued at $13,458,134. The trade was a 7.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth Rex Query sold 10,000 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the sale, the executive vice president directly owned 84,080 shares of the company’s stock, valued at $12,183,192. The trade was a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,397 shares of company stock valued at $6,763,814 over the last quarter. Corporate insiders own 0.46% of the company’s stock.

Nucor Stock Down 0.2%

Shares of NYSE NUE opened at $142.70 on Thursday. The company has a market capitalization of $32.75 billion, a price-to-earnings ratio of 25.76, a price-to-earnings-growth ratio of 0.95 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. The business has a 50-day moving average of $143.31 and a two-hundred day moving average of $128.60. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.Nucor’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.68 EPS. On average, analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s payout ratio is 39.71%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NUE. Bank of America lifted their price objective on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley lifted their target price on Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. UBS Group reduced their target price on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. JPMorgan Chase & Co. lifted their target price on Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Finally, BMO Capital Markets upgraded Nucor from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and an average price target of $156.80.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.