Nucor Corporation $NUE Shares Bought by Silver Grove Financial Group Inc.

Silver Grove Financial Group Inc. increased its holdings in Nucor Corporation (NYSE:NUE) by 2,190.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,405 shares of the basic materials company’s stock after buying an additional 2,300 shares during the period. Silver Grove Financial Group Inc.’s holdings in Nucor were worth $562,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Illinois Municipal Retirement Fund boosted its position in Nucor by 18.7% during the third quarter. Illinois Municipal Retirement Fund now owns 30,441 shares of the basic materials company’s stock valued at $7,116,000 after purchasing an additional 4,793 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in Nucor by 8.0% in the third quarter. Mesirow Financial Investment Management Inc. now owns 8,118 shares of the basic materials company’s stock worth $1,898,000 after purchasing an additional 600 shares in the last quarter. Csenge Advisory Group bought a new position in Nucor in the third quarter worth about $237,000. 71 West Capital Partners lifted its position in shares of Nucor by 2.8% during the third quarter. 71 West Capital Partners now owns 5,847 shares of the basic materials company’s stock valued at $1,367,000 after buying an additional 160 shares during the last quarter. Finally, Montis Financial LLC purchased a new stake in shares of Nucor during the third quarter valued at about $206,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 3.0%

Nucor stock opened at $256.72 on Wednesday. The stock has a 50-day moving average of $255.28 and a two-hundred day moving average of $226.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.43 and a current ratio of 2.46. Nucor Corporation has a one year low of $141.33 and a one year high of $287.70. The stock has a market cap of $58.24 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 0.61 and a beta of 1.81.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $5.84 by ($0.04). Nucor had a return on equity of 15.53% and a net margin of 9.26%. The business had revenue of $11.25 billion during the quarter, compared to analyst estimates of $10.84 billion. During the same period in the prior year, the business posted $2.63 EPS. Nucor’s revenue was up 32.0% compared to the same quarter last year. On average, research analysts anticipate that Nucor Corporation will post 19.63 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Wednesday, September 30th. Nucor’s dividend payout ratio (DPR) is presently 14.26%.

Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 11,846 shares of Nucor stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $272.90, for a total value of $3,232,773.40. Following the completion of the sale, the executive vice president directly owned 58,022 shares in the company, valued at $15,834,203.80. This trade represents a 16.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Noah Hanners sold 5,190 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $275.03, for a total transaction of $1,427,405.70. Following the sale, the executive vice president directly owned 44,073 shares in the company, valued at approximately $12,121,397.19. This represents a 10.54% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,732 shares of company stock valued at $7,881,287 over the last 90 days. Company insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

NUE has been the topic of a number of recent analyst reports. Cfra upgraded shares of Nucor from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 4th. UBS Group boosted their price objective on shares of Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 28th. KeyCorp increased their target price on shares of Nucor from $286.00 to $301.00 and gave the company an “overweight” rating in a research report on Wednesday, November 4th. Wells Fargo & Company raised their target price on shares of Nucor from $280.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Finally, Wedbush set a $304.00 price target on shares of Nucor in a report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $287.38.

Nucor Profile

Nucor Corporation is a U.S.-based steel and steel products manufacturer. Its steel mills produce sheet, plate, bar, structural steel and reinforcing bar used in construction, manufacturing, transportation and other industries. The company also makes downstream products such as steel joists, decking, fasteners, wire products and metal building components. Its operations include recycling ferrous scrap and producing direct reduced iron, materials used in steelmaking. Nucor traces its roots to 1905 and developed into a steel producer during the mid-20th century.