Bull Street Advisors LLC Has $1.42 Million Position in Nucor Corporation $NUE

Bull Street Advisors LLC increased its position in shares of Nucor Corporation (NYSE:NUE) by 14.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,947 shares of the basic materials company’s stock after purchasing an additional 1,375 shares during the quarter. Bull Street Advisors LLC’s holdings in Nucor were worth $1,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Matrix Trust Co lifted its holdings in Nucor by 53.8% during the 2nd quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 84 shares during 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 during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Nucor by 2.2% during 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 last quarter. Denali Advisors LLC lifted 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 worth $495,000 after purchasing an additional 102 shares during the last quarter. Finally, Horizon Advisory Services Inc. raised its holdings in Nucor by 6.1% in the 1st quarter. Horizon Advisory Services Inc. now owns 1,962 shares of the basic materials company’s stock valued at $236,000 after acquiring an additional 112 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, July 14th. 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 report on Thursday, July 31st. Bank of America boosted their price target on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a report on Wednesday. Finally, The Goldman Sachs Group lowered their price target on Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $156.60.

Nucor Trading Down 3.2%

Shares of NUE stock opened at $133.68 on Friday. The stock has a market cap of $30.68 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 0.92 and a beta of 1.75. The stock has a 50-day moving average of $141.25 and a 200-day moving average of $129.32. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same quarter in the prior year, the firm posted $2.68 earnings per share. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities research analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

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

Insiders Place Their Bets

In related news, insider Michael D. Keller sold 6,088 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $148.41, for a total transaction of $903,520.08. Following the sale, the insider owned 22,464 shares in the company, valued at $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 is available at the SEC website. Also, EVP Allen C. Behr sold 8,021 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $143.38, for a total value of $1,150,050.98. Following the sale, the executive vice president owned 82,703 shares in the company, valued at approximately $11,857,956.14. The trade was a 8.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,309 shares of company stock worth $4,553,771 in the last quarter. 0.46% of the stock is currently 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.