Commerce Bank Acquires Shares of 13,214 Nucor Corporation $NUE

Commerce Bank acquired a new stake in Nucor Corporation (NYSE:NUE) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 13,214 shares of the basic materials company’s stock, valued at approximately $2,943,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in Nucor during the 2nd quarter valued at $2,679,000. Quantbot Technologies LP purchased a new position in Nucor during the second quarter worth $580,000. Evolve Private Wealth LLC bought a new position in Nucor during the second quarter valued at $939,000. Westpac Banking Corp bought a new position in Nucor during the second quarter valued at $74,000. Finally, Sumitomo Life Insurance Co. purchased a new stake in shares of Nucor in the second quarter valued at $1,234,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Nucor stock opened at $244.32 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The stock has a market cap of $55.43 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. The firm has a 50-day moving average of $246.58 and a two-hundred day moving average of $217.46. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating the consensus estimate 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 net margin of 7.99% and a return on equity of 12.73%. The company’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.60 earnings per share. On average, research analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

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

Analyst Upgrades and Downgrades

NUE has been the subject of several analyst reports. Morgan Stanley set a $270.00 target price on shares of Nucor in a report on Wednesday, July 29th. Jefferies Financial Group upped their price target on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Seaport Research Partners increased their price objective on shares of Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Argus raised their price objective on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Bank of America dropped their target price on Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.38.

Insider Buying and Selling at Nucor

In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction on 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 sale, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at $20,008,704.32. The trade was a 4.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the company’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 represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,528 shares of company stock valued at $4,793,035 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.

About Nucor

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.