Global Financial Private Capital LLC Invests $215,000 in Nucor Co. (NUE)

Global Financial Private Capital LLC bought a new position in shares of Nucor Co. (NYSE:NUE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,441 shares of the basic materials company’s stock, valued at approximately $215,000.

Several other hedge funds have also recently bought and sold shares of NUE. Schwab Charles Investment Management Inc. grew its stake in shares of Nucor by 3.1% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,268,403 shares of the basic materials company’s stock worth $77,487,000 after buying an additional 38,495 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Nucor by 8.0% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 988,704 shares of the basic materials company’s stock worth $61,794,000 after buying an additional 73,030 shares during the last quarter. Alps Advisors Inc. grew its stake in shares of Nucor by 9.9% in the 2nd quarter. Alps Advisors Inc. now owns 805,075 shares of the basic materials company’s stock worth $51,187,000 after buying an additional 72,509 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Nucor by 10.7% in the 1st quarter. California Public Employees Retirement System now owns 798,442 shares of the basic materials company’s stock worth $48,777,000 after buying an additional 77,044 shares during the last quarter. Finally, Stifel Financial Corp grew its stake in shares of Nucor by 15.6% in the 1st quarter. Stifel Financial Corp now owns 783,645 shares of the basic materials company’s stock worth $47,875,000 after buying an additional 105,716 shares during the last quarter. Hedge funds and other institutional investors own 77.86% of the company’s stock.

Several analysts recently weighed in on NUE shares. UBS Group started coverage on Nucor in a research note on Tuesday, April 17th. They issued a “neutral” rating and a $65.00 price target on the stock. Morgan Stanley upped their price target on Nucor from $68.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 17th. Jefferies Financial Group restated a “buy” rating and issued a $80.00 price target on shares of Nucor in a research note on Friday, July 13th. Macquarie upgraded Nucor from a “neutral” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Thursday, May 17th. Finally, Zacks Investment Research downgraded Nucor from a “buy” rating to a “hold” rating in a research note on Wednesday, May 30th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Nucor currently has an average rating of “Buy” and an average target price of $71.16.



NUE stock opened at $63.56 on Wednesday. The company has a market capitalization of $20.07 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 0.71 and a beta of 1.57. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $70.48. The company has a current ratio of 3.05, a quick ratio of 1.55 and a debt-to-equity ratio of 0.43.

Nucor (NYSE:NUE) last released its quarterly earnings data on Thursday, July 19th. The basic materials company reported $2.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.10 by ($0.03). The business had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.47 billion. Nucor had a net margin of 7.58% and a return on equity of 16.22%. The business’s revenue was up 24.9% compared to the same quarter last year. During the same period last year, the company posted $1.00 earnings per share. analysts forecast that Nucor Co. will post 7.45 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 10th. Investors of record on Friday, June 29th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, June 28th. This represents a $1.52 annualized dividend and a yield of 2.39%. Nucor’s dividend payout ratio (DPR) is presently 43.30%.

In related news, insider Leon J. Topalian sold 3,115 shares of the company’s stock in a transaction that occurred on Thursday, June 21st. The stock was sold at an average price of $64.98, for a total value of $202,412.70. Following the transaction, the insider now directly owns 43,370 shares of the company’s stock, valued at approximately $2,818,182.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Sumoski sold 51,238 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $66.65, for a total value of $3,415,012.70. Following the completion of the transaction, the insider now directly owns 139,839 shares in the company, valued at $9,320,269.35. The disclosure for this sale can be found here. Insiders sold a total of 122,443 shares of company stock worth $8,277,404 over the last ninety days. 0.80% of the stock is currently owned by insiders.

Nucor Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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