2,024 Shares in Nucor Corporation $NUE Bought by Allegiance Financial Group Advisory Services LLC

Allegiance Financial Group Advisory Services LLC purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,024 shares of the basic materials company’s stock, valued at approximately $263,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Nucor by 2.6% during the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock worth $3,484,965,000 after buying an additional 745,671 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Nucor by 18.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock worth $277,920,000 after acquiring an additional 355,364 shares during the period. Charles Schwab Investment Management Inc. raised its position in Nucor by 5.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,772,831 shares of the basic materials company’s stock worth $213,342,000 after acquiring an additional 92,363 shares during the period. Diamond Hill Capital Management Inc. acquired a new position in Nucor during the first quarter worth $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Nucor by 16.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,610,933 shares of the basic materials company’s stock worth $193,863,000 after acquiring an additional 226,343 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Price Performance

Nucor stock opened at $137.73 on Thursday. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The stock has a market cap of $31.61 billion, a P/E ratio of 24.86, a PEG ratio of 0.94 and a beta of 1.75. The company has a 50-day moving average price of $141.45 and a 200 day moving average price of $129.19. 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 (NYSE:NUE) last released its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The firm had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same period last year, the business earned $2.68 earnings per share. Nucor’s revenue was up 4.7% compared to the same quarter last year. Sell-side analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

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

Insider Activity at Nucor

In other Nucor news, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction dated Thursday, July 31st. The shares were 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 owned 82,703 shares of the company’s stock, valued at $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael D. Keller sold 6,088 shares of the 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 transaction, the insider directly owned 22,464 shares of the company’s stock, valued at approximately $3,333,882.24. This trade represents a 21.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 31,309 shares of company stock worth $4,553,771. 0.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NUE shares. Morgan Stanley upped their price objective on shares of Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. Bank of America upped their price objective on shares of Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. upped their price objective on shares of Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and increased their target price for the company from $135.00 to $170.00 in a research report on Thursday, July 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research report on Wednesday. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.60.

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.