Bull Street Advisors LLC Acquires 1,375 Shares of Nucor Corporation $NUE

Bull Street Advisors LLC increased its holdings in shares of Nucor Corporation (NYSE:NUE) by 14.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,947 shares of the basic materials company’s stock after purchasing an additional 1,375 shares during the period. Bull Street Advisors LLC’s holdings in Nucor were worth $1,418,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NUE. Farther Finance Advisors LLC lifted its holdings in shares of Nucor by 25.1% during the 1st quarter. Farther Finance Advisors LLC now owns 2,344 shares of the basic materials company’s stock valued at $280,000 after purchasing an additional 470 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Nucor during the first quarter worth about $717,000. GAMMA Investing LLC boosted its position in shares of Nucor by 48.6% during the first quarter. GAMMA Investing LLC now owns 4,203 shares of the basic materials company’s stock worth $506,000 after buying an additional 1,375 shares during the period. Integrated Advisors Network LLC boosted its position in shares of Nucor by 99.8% during the first quarter. Integrated Advisors Network LLC now owns 5,054 shares of the basic materials company’s stock worth $608,000 after buying an additional 2,525 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in shares of Nucor by 20.5% during the first quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company’s stock worth $3,476,000 after buying an additional 4,914 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In other news, insider Michael D. Keller sold 6,088 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the sale, the insider directly owned 22,464 shares of the company’s stock, valued at $3,333,882.24. This trade represents a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Allen C. Behr sold 8,021 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the sale, the executive vice president directly owned 82,703 shares of the company’s stock, valued at approximately $11,857,956.14. The trade was a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,309 shares of company stock valued at $4,553,771. Corporate insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NUE. Bank of America upped their price objective on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. upped their price objective on Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. The Goldman Sachs Group reduced their price objective on Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research report on Wednesday. Finally, Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and upped their price objective for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and an average price target of $156.60.

Nucor Stock Performance

Shares of NYSE NUE opened at $133.68 on Friday. The stock has a 50 day moving average price of $141.25 and a 200 day moving average price of $129.32. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The stock has a market capitalization of $30.68 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 0.92 and a beta of 1.75.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same period in the prior year, the firm posted $2.68 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s dividend payout ratio (DPR) is presently 39.71%.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.