Pallas Capital Advisors LLC Invests $1.02 Million in Nucor Corporation $NUE

Pallas Capital Advisors LLC acquired a new stake in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 4,569 shares of the basic materials company’s stock, valued at approximately $1,018,000.

A number of other institutional investors have also recently made changes to their positions in the business. Stance Capital LLC purchased a new stake in Nucor in the third quarter valued at about $25,000. Strive Financial Group LLC purchased a new stake in shares of Nucor during the fourth quarter worth about $27,000. Bell Investment Advisors Inc acquired a new position in shares of Nucor during the second quarter valued at about $28,000. Motiv8 Investments LLC acquired a new position in shares of Nucor during the fourth quarter valued at about $32,000. Finally, Bartlett & CO. Wealth Management LLC raised its position 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 valued at $32,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president directly owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were 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 $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,528 shares of company stock worth $4,793,035 in the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NUE. Barclays lifted their price objective on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Seaport Research Partners upped their target price on Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Bank of America reduced their target price on Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. UBS Group lifted their price target on Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 28th. Finally, BMO Capital Markets boosted their price target on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note 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. Based on data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $273.31.

Nucor Stock Performance

NUE opened at $264.74 on Wednesday. The firm has a fifty day moving average price of $247.76 and a 200 day moving average price of $215.68. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11. The stock has a market cap of $60.06 billion, a P/E ratio of 21.11, a P/E/G ratio of 0.60 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36.

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

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Nucor’s payout ratio is currently 17.86%.

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.