1,817 Shares in Nucor Corporation $NUE Purchased by Cornell Pochily Investment Advisors Inc.

Cornell Pochily Investment Advisors Inc. purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 1,817 shares of the basic materials company’s stock, valued at approximately $235,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NUE. NBC Securities Inc. lifted its position in Nucor by 132,300.0% during the 1st quarter. NBC Securities Inc. now owns 1,324 shares of the basic materials company’s stock worth $159,000 after buying an additional 1,323 shares in the last quarter. RFG Advisory LLC lifted its position in Nucor by 6.7% during the 1st quarter. RFG Advisory LLC now owns 2,393 shares of the basic materials company’s stock worth $288,000 after buying an additional 150 shares in the last quarter. Diligent Investors LLC lifted its position in Nucor by 4.6% during the 1st quarter. Diligent Investors LLC now owns 2,296 shares of the basic materials company’s stock worth $276,000 after buying an additional 102 shares in the last quarter. Ullmann Wealth Partners Group LLC lifted its position in Nucor by 2.3% during the 1st quarter. Ullmann Wealth Partners Group LLC now owns 5,668 shares of the basic materials company’s stock worth $682,000 after buying an additional 125 shares in the last quarter. Finally, Generali Investments Management Co LLC acquired a new position in Nucor during the 1st quarter worth about $214,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insiders Place Their Bets

In related news, insider Michael D. Keller sold 6,088 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total transaction of $903,520.08. Following the completion of the sale, the insider directly owned 22,464 shares of the company’s stock, valued at approximately $3,333,882.24. This represents a 21.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel R. Needham sold 7,200 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $146.00, for a total value of $1,051,200.00. Following the sale, the executive vice president directly owned 92,179 shares of the company’s stock, valued at approximately $13,458,134. The trade was a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,309 shares of company stock valued at $4,553,771 in the last quarter. 0.46% of the stock is owned by company insiders.

Nucor Stock Performance

Shares of NUE stock opened at $138.96 on Friday. 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 stock has a market cap of $31.90 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 0.93 and a beta of 1.76. The stock has a 50-day moving average of $141.99 and a 200-day moving average of $128.95. Nucor Corporation has a one year low of $97.59 and a one 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 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.06. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.Nucor’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.68 EPS. As a group, sell-side analysts expect that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. Nucor’s dividend payout ratio is 39.71%.

Wall Street Analyst Weigh In

NUE has been the subject of several recent research reports. The Goldman Sachs Group dropped their price objective on Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a report on Monday, September 22nd. JPMorgan Chase & Co. boosted their price objective on Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Wells Fargo & Company dropped their price objective on Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, September 18th. Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $135.00 to $170.00 in a report on Thursday, July 31st. Finally, Morgan Stanley boosted their price objective on Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $156.60.

Nucor Profile

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.