Callan Family Office LLC Increases Position in Nucor Corporation $NUE

Callan Family Office LLC raised its holdings in shares of Nucor Corporation (NYSE:NUE) by 166.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,900 shares of the basic materials company’s stock after buying an additional 3,059 shares during the period. Callan Family Office LLC’s holdings in Nucor were worth $635,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NUE. Matrix Trust Co boosted its position in shares of 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 buying an additional 84 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Nucor by 81.8% during the first 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 period. Spirit of America Management Corp NY purchased a new position in shares of Nucor during the first quarter valued at approximately $48,000. Meeder Asset Management Inc. boosted its position in shares of Nucor by 209.6% during the first quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company’s stock valued at $50,000 after buying an additional 283 shares during the period. Finally, Putney Financial Group LLC boosted its position in shares of Nucor by 86.8% during the first quarter. Putney Financial Group LLC now owns 467 shares of the basic materials company’s stock valued at $56,000 after buying an additional 217 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 7,200 shares of the company’s stock in a transaction on Monday, August 18th. The stock was 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction 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 sale, the executive vice president owned 82,703 shares of the company’s stock, valued at approximately $11,857,956.14. This represents a 8.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,309 shares of company stock worth $4,553,771 in the last three months. Corporate insiders own 0.71% of the company’s stock.

Nucor Stock Up 2.4%

Nucor stock opened at $136.82 on Tuesday. The business has a fifty day moving average of $141.24 and a two-hundred day moving average of $129.44. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. The firm has a market cap of $31.41 billion, a P/E ratio of 24.70, a P/E/G ratio of 0.92 and a beta of 1.75. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52.

Nucor (NYSE:NUE) last posted its earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.Nucor’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.68 earnings per share. On average, analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

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

Analyst Upgrades and Downgrades

NUE has been the subject of several recent analyst reports. The Goldman Sachs Group dropped their target price on Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Wells Fargo & Company lowered their price target on Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, September 18th. Bank of America boosted their price target on Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, September 15th. JPMorgan Chase & Co. boosted their price target on Nucor from $165.00 to $172.00 and gave the company an “overweight” rating in a report on Monday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $157.60.

About Nucor

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.