2,187 Shares in Nucor Corporation $NUE Purchased by Palisade Capital Management LP

Palisade Capital Management LP bought a new stake in Nucor Corporation (NYSE:NUE) in the second quarter, Holdings Channel reports. The fund bought 2,187 shares of the basic materials company’s stock, valued at approximately $487,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stance Capital LLC acquired a new stake in shares of Nucor in the 3rd quarter worth approximately $25,000. Manning & Napier Advisors LLC acquired a new stake in Nucor in the second quarter worth approximately $27,000. Strive Financial Group LLC bought a new position in Nucor during the 4th quarter valued at $27,000. Bell Investment Advisors Inc bought a new position in Nucor during the 2nd quarter valued at $28,000. Finally, Motiv8 Investments LLC acquired a new position in shares of Nucor during the 4th quarter valued at $32,000. 76.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NUE. Argus boosted their price objective on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. The Goldman Sachs Group boosted their price target on shares of Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. UBS Group upped their price target on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Seaport Research Partners raised their price objective on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Finally, Bank of America cut their target price on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $272.38.

Insider Activity

In other news, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president owned 97,865 shares of the company’s stock, valued at $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction 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 transaction, the executive vice president owned 16,138 shares in the company, valued at $4,212,340.76. This represents a 19.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 18,528 shares of company stock worth $4,793,035 over the last quarter. Corporate insiders own 0.62% of the company’s stock.

Nucor Price Performance

NUE stock opened at $252.69 on Thursday. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11. The firm has a 50-day moving average of $246.35 and a two-hundred day moving average of $218.33. The firm has a market capitalization of $57.33 billion, a PE ratio of 20.15, a P/E/G ratio of 0.92 and a beta of 1.89. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27.

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 the consensus estimate of $4.46 by $0.38. The business had revenue of $10.40 billion for 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%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period last year, the firm posted $2.60 earnings per share. On average, analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

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

Nucor Company 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.