41,320 Shares in Nucor Co. (NYSE:NUE) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new stake in shares of Nucor Co. (NYSE:NUE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 41,320 shares of the basic materials company’s stock, valued at approximately $7,248,000.

A number of other hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of Nucor in the first quarter valued at $27,000. Chilton Capital Management LLC raised its position in shares of Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Nucor during the first quarter valued at $28,000. Tompkins Financial Corp lifted its holdings in shares of Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in Nucor in the 1st quarter worth about $31,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on NUE. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Bank of America reduced their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $170.00 to $174.00 in a research report on Monday, September 9th. BMO Capital Markets lowered their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Finally, Morgan Stanley cut their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $192.00.

Nucor Price Performance

Shares of NYSE:NUE opened at $151.44 on Friday. The stock has a market capitalization of $36.31 billion, a P/E ratio of 8.91 and a beta of 1.55. The business has a 50-day moving average of $147.33 and a two-hundred day moving average of $163.72. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business’s revenue was down 15.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.81 EPS. On average, equities research analysts predict that Nucor Co. will post 9.28 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.43%. Nucor’s payout ratio is 12.71%.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at $15,847,840. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by company insiders.

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.