Seamount Financial Group Inc. Buys 365 Shares of Nucor Corporation $NUE

Seamount Financial Group Inc. raised its position in shares of Nucor Corporation (NYSE:NUE) by 13.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,133 shares of the basic materials company’s stock after purchasing an additional 365 shares during the period. Seamount Financial Group Inc.’s holdings in Nucor were worth $406,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Matrix Trust Co increased its stake in shares of Nucor by 53.8% in the second quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 84 shares in the last quarter. Highline Wealth Partners LLC lifted its holdings in Nucor by 2.6% during the 1st quarter. Highline Wealth Partners LLC now owns 3,512 shares of the basic materials company’s stock worth $423,000 after purchasing an additional 90 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in Nucor by 2.2% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 4,247 shares of the basic materials company’s stock worth $511,000 after purchasing an additional 93 shares during the period. Denali Advisors LLC grew its holdings in Nucor by 2.5% during the 1st quarter. Denali Advisors LLC now owns 4,117 shares of the basic materials company’s stock valued at $495,000 after buying an additional 102 shares in the last quarter. Finally, Horizon Advisory Services Inc. increased its position in shares of Nucor by 6.1% during the first quarter. Horizon Advisory Services Inc. now owns 1,962 shares of the basic materials company’s stock valued at $236,000 after buying an additional 112 shares during the period. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and lifted their price objective for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. JPMorgan Chase & Co. raised their target price on shares of Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. The Goldman Sachs Group cut their price target on shares of Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a research note on Monday, September 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a report on Saturday, September 27th. Finally, Wells Fargo & Company dropped their price objective on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, September 18th. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.60.

Nucor Stock Down 1.8%

Shares of NYSE NUE opened at $135.57 on Tuesday. The stock has a market capitalization of $31.12 billion, a P/E ratio of 24.47, a PEG ratio of 0.95 and a beta of 1.75. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The firm’s 50 day simple moving average is $141.66 and its two-hundred day simple moving average is $129.09. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.06. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 EPS. As a group, analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.6%. Nucor’s dividend payout ratio is presently 39.71%.

Insiders Place Their Bets

In other Nucor news, insider Michael D. Keller sold 6,088 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the transaction, the insider directly owned 22,464 shares in the company, valued at approximately $3,333,882.24. This represents a 21.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the completion of the transaction, the executive vice president directly owned 82,703 shares of the company’s stock, valued at approximately $11,857,956.14. The trade was a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,309 shares of company stock valued at $4,553,771 in the last 90 days. 0.71% of the stock is owned by corporate insiders.

Nucor Profile

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.