Maridea Wealth Management LLC bought a new stake in Nucor Corporation (NYSE:NUE – Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 2,613 shares of the basic materials company’s stock, valued at approximately $582,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in Nucor by 745.2% in 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 purchasing an additional 73,588 shares during the period. California Public Employees Retirement System raised its holdings in Nucor by 19.3% during 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 buying an additional 82,668 shares during the last quarter. Oak Harvest Investment Services acquired a new position in Nucor during the fourth quarter worth $6,329,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Nucor by 21.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,371 shares of the basic materials company’s stock valued at $7,400,000 after buying an additional 8,097 shares in the last quarter. Finally, Pacific Heights Asset Management LLC lifted its stake in shares of Nucor by 12.9% in the fourth quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock valued at $28,544,000 after buying an additional 20,000 shares in the last quarter. 76.48% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Wall Street Zen raised Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. BNP Paribas Exane increased their price objective on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Seaport Research Partners boosted their target price on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, The Goldman Sachs Group increased their price target on Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.31.
Insider Transactions at Nucor
In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of the business’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 sale, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. The trade was a 4.85% 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, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president directly owned 97,865 shares in the company, valued at $25,294,187.90. This represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 21,028 shares of company stock valued at $5,355,535. Corporate insiders own 0.62% of the company’s stock.
Nucor Stock Performance
Shares of NUE stock opened at $268.11 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The firm has a market cap of $60.83 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 0.60 and a beta of 1.89. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11. The firm’s 50-day simple moving average is $247.15 and its two-hundred day simple moving average is $214.08.
Nucor (NYSE:NUE – Get Free Report) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the prior year, the firm earned $2.60 EPS. The company’s revenue was up 23.0% compared to the same quarter last year. As a group, equities analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current year.
Nucor Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor’s dividend payout ratio is 17.86%.
Nucor Profile
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.
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