Northwestern Mutual Wealth Management Co. bought a new position in shares of Nucor Corporation (NYSE:NUE – Free Report) in the second quarter, HoldingsChannel reports. The firm bought 12,025 shares of the basic materials company’s stock, valued at approximately $2,679,000.
Several other large investors also recently modified their holdings of NUE. Stance Capital LLC purchased a new position in Nucor during the 3rd quarter valued at about $25,000. Strive Financial Group LLC purchased a new stake in Nucor in the 4th quarter worth approximately $27,000. Bell Investment Advisors Inc purchased a new stake in Nucor in the 2nd quarter worth approximately $28,000. Motiv8 Investments LLC bought a new stake in shares of Nucor in the 4th quarter worth approximately $32,000. Finally, Bartlett & CO. Wealth Management LLC grew its position in shares of Nucor by 49.2% in the 1st 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. 76.48% of the stock is owned by institutional investors.
Insider Transactions at Nucor
In other news, 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 sale, the executive vice president directly owned 97,865 shares of the company’s stock, valued at $25,294,187.90. This represents a 9.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the transaction, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,528 shares of company stock valued at $4,793,035 in the last three months. 0.62% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Nucor Trading Up 0.3%
NUE opened at $244.32 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 52 week low of $131.32 and a 52 week high of $280.11. The stock has a market cap of $55.43 billion, a PE ratio of 19.48, a PEG ratio of 0.90 and a beta of 1.89. The business has a 50 day moving average of $246.58 and a 200-day moving average of $217.46.
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, topping the consensus estimate of $4.46 by $0.38. The company had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 earnings per share. Equities research analysts predict that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.
Nucor Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s 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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