Monetta Financial Services Inc. Makes New Investment in Nucor Corporation $NUE

Monetta Financial Services Inc. acquired a new stake in shares of Nucor Corporation (NYSE:NUE) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 10,500 shares of the basic materials company’s stock, valued at approximately $1,422,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC increased its stake in Nucor by 21.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nucor in the 1st quarter valued at $259,000. Geneos Wealth Management Inc. increased its position in shares of Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares during the period. Sivia Capital Partners LLC acquired a new stake in Nucor during the 2nd quarter worth about $390,000. Finally, Brookstone Capital Management lifted its position in Nucor by 11.4% during the 2nd quarter. Brookstone Capital Management now owns 2,407 shares of the basic materials company’s stock worth $312,000 after acquiring an additional 247 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nucor news, EVP Thomas J. Batterbee sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total value of $330,560.00. Following the sale, the executive vice president directly owned 17,952 shares of the company’s stock, valued at approximately $2,967,106.56. This trade represents a 10.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel R. Needham sold 3,881 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $178.00, for a total value of $690,818.00. Following the completion of the sale, the executive vice president owned 88,298 shares of the company’s stock, valued at $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 34,351 shares of company stock worth $6,206,158. Company insiders own 0.71% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of research reports. Morgan Stanley reissued an “equal weight” rating and issued a $180.00 price objective (up from $165.00) on shares of Nucor in a report on Friday, January 9th. Citigroup increased their price target on shares of Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. UBS Group cut shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price objective for the company. in a research note on Wednesday, January 28th. The Goldman Sachs Group increased their price objective on shares of Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Finally, Seaport Research Partners boosted their target price on shares of Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $179.36.

Nucor Price Performance

Shares of NYSE NUE opened at $178.70 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The stock has a market capitalization of $40.90 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 0.65 and a beta of 1.86. The firm’s 50 day simple moving average is $174.59 and its 200-day simple moving average is $155.82. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $196.90.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $1.22 earnings per share. Analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor declared that its board has initiated a stock buyback plan on Friday, February 20th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.3%. Nucor’s dividend payout ratio is presently 29.71%.

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.