UNIVEST FINANCIAL Corp bought a new stake in Nucor Corporation (NYSE:NUE – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,043 shares of the basic materials company’s stock, valued at approximately $455,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Stance Capital LLC acquired a new stake in Nucor during the 3rd quarter worth $25,000. Strive Financial Group LLC acquired a new position in Nucor in the fourth quarter valued at $27,000. Bell Investment Advisors Inc purchased a new stake in shares of Nucor in the second quarter valued at about $28,000. Motiv8 Investments LLC acquired a new stake in shares of Nucor during the fourth quarter worth about $32,000. Finally, Bartlett & CO. Wealth Management LLC grew its holdings in shares of Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.
Nucor Stock Performance
NYSE:NUE opened at $272.73 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The stock has a market cap of $61.88 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 0.60 and a beta of 1.89. The firm’s fifty day simple moving average is $247.54 and its 200-day simple moving average is $215.03.
Nucor Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is presently 17.86%.
Wall Street Analyst Weigh In
Several research firms have recently commented on NUE. KeyCorp upgraded Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price target for the company in a research note on Wednesday, June 24th. Morgan Stanley set a $270.00 price objective on shares of Nucor in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Bank of America cut their price objective on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nucor in a report on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $273.31.
Check Out Our Latest Report on NUE
Insider Activity
In related news, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This trade represents a 19.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction on Wednesday, June 3rd. The stock was 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 of the company’s stock, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 18,528 shares of company stock worth $4,793,035. Company insiders own 0.62% of the company’s stock.
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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