37,265 Shares in Nucor Corporation $NUE Purchased by Kimelman & Baird LLC

Kimelman & Baird LLC bought a new position in Nucor Corporation (NYSE:NUE) during the second quarter, Holdings Channel reports. The institutional investor bought 37,265 shares of the basic materials company’s stock, valued at approximately $8,301,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NUE. Stance Capital LLC bought a new stake in Nucor in the third quarter valued at $25,000. Transamerica Financial Advisors LLC bought a new position in shares of Nucor during the second quarter worth about $25,000. Strive Financial Group LLC acquired a new stake in shares of Nucor in the 4th quarter worth about $27,000. Manning & Napier Advisors LLC acquired a new stake in shares of Nucor in the 2nd quarter worth about $27,000. Finally, Bell Investment Advisors Inc bought a new stake in Nucor in the 2nd quarter valued at about $28,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

NYSE NUE opened at $250.84 on Friday. 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 $56.91 billion, a PE ratio of 20.00, a P/E/G ratio of 0.94 and a beta of 1.89. The company’s 50 day simple moving average is $246.64 and its 200 day simple moving average is $218.97. 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 earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. The firm had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.60 earnings per share. As a group, equities research analysts forecast that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were issued a $0.56 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor’s dividend payout ratio is 17.86%.

Insider Activity

In related news, COO Stephen D. Laxton sold 3,968 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief operating officer owned 77,867 shares of the company’s stock, valued at $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction dated 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 transaction, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,528 shares of company stock worth $4,793,035 over the last 90 days. 0.62% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NUE has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their target price on shares of Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. KeyCorp upgraded shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price target on the stock in a research note on Wednesday, June 24th. BNP Paribas Exane lifted their price target on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Bank of America reduced their price objective on Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, BMO Capital Markets increased their price objective on Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $272.38.

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.