Gambit Capital Management LLC acquired a new stake in Nucor Corporation (NYSE:NUE – Free Report) in the 2nd quarter, Holdings Channel reports. The fund acquired 2,228 shares of the basic materials company’s stock, valued at approximately $496,000.
A number of other hedge funds have also made changes to their positions in the stock. Integrated Wealth Concepts LLC increased its position in shares of 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 during the period. Dynamic Technology Lab Private Ltd bought a new position in Nucor during the first quarter valued at about $259,000. Geneos Wealth Management Inc. boosted its stake in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after buying an additional 153 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Nucor during the second quarter worth about $390,000. Finally, Cerity Partners LLC grew its holdings in Nucor by 51.9% during the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after acquiring an additional 13,877 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.
Insider Buying and Selling at Nucor
In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of Nucor 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 of the company’s stock, valued at $4,212,340.76. The trade was a 19.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. This represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,528 shares of company stock valued at $4,793,035 in the last 90 days. 0.62% of the stock is currently owned by corporate insiders.
Nucor Price Performance
Nucor (NYSE:NUE – Get Free Report) last issued its quarterly 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. 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 for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.60 earnings per share. Equities analysts forecast that Nucor Corporation will post 17.95 EPS for the current fiscal year.
Nucor Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.56 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor’s dividend payout ratio (DPR) is presently 17.86%.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on NUE shares. UBS Group upped their price target on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Argus lifted their price objective on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Morgan Stanley set a $270.00 target price on shares of Nucor in a report on Wednesday, July 29th. The Goldman Sachs Group increased their target price on shares of Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Finally, BMO Capital Markets raised their target price on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $273.31.
Read Our Latest Stock Analysis on NUE
Nucor Company 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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