Gambit Capital Management LLC Makes New $496,000 Investment in Nucor Corporation $NUE

Gambit Capital Management LLC bought a new position in Nucor Corporation (NYSE:NUE) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,228 shares of the basic materials company’s stock, valued at approximately $496,000.

Other institutional investors have also modified their holdings of the company. Stance Capital LLC bought a new position in shares of Nucor during the third quarter worth about $25,000. Strive Financial Group LLC acquired a new position in Nucor in the fourth quarter worth about $27,000. Bell Investment Advisors Inc bought a new stake in Nucor in the second quarter valued at about $28,000. Motiv8 Investments LLC bought a new stake in Nucor in the fourth quarter valued at about $32,000. Finally, Bartlett & CO. Wealth Management LLC raised its stake in Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. The Goldman Sachs Group increased their target price on Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Argus upped their price target on Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Weiss Ratings restated a “hold (c+)” rating on shares of Nucor in a research note on Tuesday, August 11th. Wells Fargo & Company lifted their price objective on shares of Nucor from $283.00 to $297.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, Bank of America lowered their target price on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $273.31.

Nucor Trading Up 1.4%

Nucor stock opened at $243.89 on Friday. Nucor Corporation has a 52-week low of $131.32 and a 52-week 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 firm has a market capitalization of $55.33 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 0.89 and a beta of 1.89. The firm has a 50-day moving average price of $246.88 and a two-hundred day moving average price of $216.80.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating the consensus estimate 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%. Nucor’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.60 earnings per share. Sell-side analysts expect that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a $0.56 dividend. 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 currently 17.86%.

Insider Activity at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the transaction, the chief operating officer owned 77,867 shares of the company’s stock, valued at $20,008,704.32. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,528 shares of company stock worth $4,793,035 in the last three months. 0.62% of the stock is owned by company insiders.

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.