FSM Wealth Advisors LLC Takes $293,000 Position in Nucor Corporation $NUE

FSM Wealth Advisors LLC purchased a new position in Nucor Corporation (NYSE:NUE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,143 shares of the basic materials company’s stock, valued at approximately $293,000.

Several other institutional investors have also bought and sold shares of the company. Matrix Trust Co grew its holdings in Nucor by 53.8% during the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 84 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after buying an additional 153 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Nucor by 209.6% during the 1st quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 283 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Nucor by 49.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 442 shares of the basic materials company’s stock worth $57,000 after acquiring an additional 147 shares during the last quarter. Finally, Proathlete Wealth Management LLC bought a new stake in Nucor in the 2nd quarter valued at about $58,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Nucor stock opened at $138.42 on Friday. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $31.77 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 0.97 and a beta of 1.75. The firm’s 50 day simple moving average is $140.58 and its 200 day simple moving average is $130.48.

Nucor (NYSE:NUE) last announced 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. The firm had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $2.68 EPS. As a group, analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

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

Insiders Place Their Bets

In related news, insider Michael D. Keller sold 6,088 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the transaction, the insider directly owned 22,464 shares in the company, valued at approximately $3,333,882.24. This represents a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Daniel R. Needham sold 7,200 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the completion of the sale, the executive vice president directly owned 92,179 shares in the company, valued at $13,458,134. This represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,309 shares of company stock worth $4,553,771. 0.46% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and increased their target price for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Bank of America upped their price target on shares of Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $165.00 to $172.00 and gave the company an “overweight” rating in a research note on Monday, October 13th. Finally, Wells Fargo & Company dropped their target price on Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 18th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.60.

Nucor 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.