Kinloch Capital LLC Invests $4.38 Million in Nucor Corporation $NUE

Kinloch Capital LLC bought a new stake in Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 19,678 shares of the basic materials company’s stock, valued at approximately $4,383,000.

A number of other institutional investors also recently added to or reduced their stakes in NUE. RKL Wealth Management LLC grew its holdings 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 worth $899,000 after acquiring an additional 48 shares in the last quarter. Focus Financial Network Inc. raised its holdings in shares of Nucor by 3.6% in the 2nd quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company’s stock valued at $316,000 after purchasing an additional 49 shares in the last quarter. Empirical Asset Management LLC lifted its position in shares of Nucor by 2.6% during the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock worth $347,000 after purchasing an additional 54 shares during the last quarter. Moody National Bank Trust Division lifted its position in shares of Nucor by 4.6% during the 2nd quarter. Moody National Bank Trust Division now owns 1,396 shares of the basic materials company’s stock worth $311,000 after purchasing an additional 62 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its stake in shares of Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Wells Fargo & Company lowered their price objective on Nucor from $297.00 to $285.00 and set an “overweight” rating for the company in a research report on Monday. Argus increased their price objective on Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a report on Friday, May 15th. Bank of America cut their target price on Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Finally, Barclays boosted their target price on Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $272.38.

Insider Activity 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 transaction of $1,019,617.28. Following the transaction, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. This trade represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas J. Batterbee sold 4,000 shares of Nucor 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 transaction, the executive vice president directly owned 16,138 shares in the company, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders 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 Price Performance

Shares of NYSE:NUE opened at $244.32 on Tuesday. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The firm has a market capitalization of $55.43 billion, a P/E ratio of 19.48, a P/E/G ratio of 0.90 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. The company’s fifty day moving average price is $246.58 and its 200 day moving average price is $217.46.

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

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor’s dividend payout ratio is 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.