Berkshire Hathaway Inc acquired a new stake in shares of Nucor Corporation (NYSE:NUE – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 1,857,752 shares of the basic materials company’s stock, valued at approximately $413,814,000. Nucor makes up 0.1% of Berkshire Hathaway Inc’s holdings, making the stock its 22nd biggest holding.
A number of other institutional investors and hedge funds have also made changes to their positions in NUE. Integrated Wealth Concepts LLC raised its position in shares of Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after buying an additional 568 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Nucor in the first quarter valued at $259,000. Geneos Wealth Management Inc. grew its position 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 acquiring an additional 153 shares during the period. Sivia Capital Partners LLC purchased a new stake in Nucor during the second quarter valued at about $390,000. Finally, Cerity Partners LLC increased its stake 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 last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.
Nucor Trading Up 2.1%
NYSE:NUE opened at $252.69 on Thursday. The business’s 50-day moving average is $246.35 and its two-hundred day moving average is $218.33. The firm has a market capitalization of $57.33 billion, a PE ratio of 20.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36.
Nucor Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.9%. Nucor’s payout ratio is 17.86%.
Analyst Upgrades and Downgrades
NUE has been the topic of a number of research reports. Argus raised their price objective on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Barclays boosted their target price on Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. BMO Capital Markets increased their target price on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Bank of America cut their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nucor in a research report on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Nucor has an average rating of “Moderate Buy” and an average target price of $272.38.
Get Our Latest Stock Analysis on Nucor
Insiders Place Their Bets
In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction that occurred 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 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. The transaction was disclosed in a legal 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 that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at $20,008,704.32. This trade represents a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,528 shares of company stock worth $4,793,035 in the last 90 days. 0.62% of the stock is owned by company insiders.
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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