Hennessy Advisors Inc. Takes $760,000 Position in Nucor Corporation $NUE

Hennessy Advisors Inc. bought a new stake in Nucor Corporation (NYSE:NUE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,412 shares of the basic materials company’s stock, valued at approximately $760,000.

Several other institutional investors and hedge funds have also bought and sold shares of NUE. Transamerica Financial Advisors LLC bought a new stake in shares of Nucor in the second quarter valued at about $25,000. Manning & Napier Advisors LLC bought a new position in Nucor during the second quarter worth about $27,000. Bell Investment Advisors Inc bought a new position in Nucor during the second quarter worth about $28,000. Strive Financial Group LLC acquired a new stake in Nucor in the 4th quarter worth about $27,000. Finally, Stance Capital LLC acquired a new stake in shares of Nucor in the third quarter valued at approximately $25,000. Institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of analyst reports. CICC Research started coverage on Nucor in a research report on Monday, May 25th. They set an “outperform” rating on the stock. Morgan Stanley set a $270.00 target price on Nucor in a research report on Wednesday, July 29th. Wells Fargo & Company decreased their price target on Nucor from $297.00 to $285.00 and set an “overweight” rating on the stock in a research report on Monday, August 24th. Citigroup reaffirmed a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Finally, KeyCorp raised shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price objective for the company in a research report on Wednesday, June 24th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $272.38.

Nucor Trading Up 0.1%

NUE opened at $250.84 on Monday. The company’s 50 day moving average is $246.64 and its 200-day moving average is $219.15. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The company has a market cap of $56.91 billion, a P/E ratio of 20.00, a PEG ratio of 0.93 and a beta of 1.89.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. The business had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.60 EPS. Equities research analysts predict that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio is presently 17.86%.

Insider Activity

In related news, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the sale, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,528 shares of company stock worth $4,793,035. Insiders own 0.62% of the company’s stock.

Nucor Company Profile

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.