Foster & Motley Inc. Makes New $4.35 Million Investment in Nucor Corporation $NUE

Foster & Motley Inc. acquired a new position in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 19,511 shares of the basic materials company’s stock, valued at approximately $4,346,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Nucor by 745.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after acquiring an additional 73,588 shares in the last quarter. California Public Employees Retirement System raised its position in Nucor by 19.3% in the first quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock worth $86,297,000 after purchasing an additional 82,668 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Nucor by 21.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,371 shares of the basic materials company’s stock worth $7,400,000 after purchasing an additional 8,097 shares during the period. Pacific Heights Asset Management LLC lifted its stake in Nucor by 12.9% during the fourth quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock worth $28,544,000 after purchasing an additional 20,000 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Nucor by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock valued at $306,054,000 after purchasing an additional 29,476 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Stephen D. Laxton sold 3,968 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 18,528 shares of company stock valued at $4,793,035. 0.62% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on NUE shares. Seaport Research Partners upped their price objective on Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Zacks Research downgraded Nucor from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Bank of America decreased their price target on Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. UBS Group upped their price target on Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Finally, KeyCorp upgraded Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price objective for the company in a research note on Wednesday, June 24th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $273.31.

Nucor Price Performance

Shares of Nucor stock opened at $264.74 on Wednesday. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $60.06 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 0.60 and a beta of 1.89. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11. The firm’s 50-day moving average price is $247.76 and its two-hundred day moving average price is $215.68.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping the consensus estimate of $4.46 by $0.38. The business had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.Nucor’s revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.60 EPS. On average, equities analysts predict that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were paid a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. Nucor’s payout ratio is currently 17.86%.

About Nucor

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.