Diamond Hill Capital Management LLC Investment Advisor Takes Position in Nucor Corporation $NUE

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Nucor Corporation (NYSE:NUE) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 312,565 shares of the basic materials company’s stock, valued at approximately $69,624,000. Diamond Hill Capital Management LLC Investment Advisor owned about 0.14% of Nucor at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of NUE. RKL Wealth Management LLC grew its stake in Nucor by 0.9% in the first quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company’s stock valued at $899,000 after purchasing an additional 48 shares in the last quarter. Focus Financial Network Inc. lifted its holdings in shares of Nucor by 3.6% during the 2nd quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company’s stock valued at $316,000 after buying an additional 49 shares during the last quarter. Empirical Asset Management LLC lifted its holdings in shares of Nucor by 2.6% during the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock valued at $347,000 after buying an additional 54 shares during the last quarter. Krilogy Financial LLC grew its stake in shares of Nucor by 4.1% in the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock valued at $272,000 after buying an additional 61 shares in the last quarter. Finally, Moody National Bank Trust Division grew its stake in shares of Nucor by 4.6% in the 2nd quarter. Moody National Bank Trust Division now owns 1,396 shares of the basic materials company’s stock valued at $311,000 after buying an additional 62 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president owned 16,138 shares of the company’s stock, valued at $4,212,340.76. The trade was a 19.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,528 shares of company stock valued at $4,793,035 in the last quarter. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NUE shares. Argus increased their price objective on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Morgan Stanley set a $270.00 target price on shares of Nucor in a research report on Wednesday, July 29th. Barclays increased their price target on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. KeyCorp upgraded shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price target on the stock in a report on Wednesday, June 24th. Finally, Wells Fargo & Company lifted their price objective on shares of Nucor from $283.00 to $297.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $273.31.

Nucor Stock Down 0.3%

Shares of Nucor stock opened at $268.11 on Monday. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average price of $247.15 and a two-hundred day moving average price of $214.33. The stock has a market capitalization of $60.83 billion, a P/E ratio of 21.38, a PEG ratio of 0.60 and a beta of 1.89.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. The company had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.60 earnings per share. Equities analysts expect 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. Investors of record on Tuesday, June 30th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is 17.86%.

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.