3,826 Shares in Nucor Corporation $NUE Purchased by BIP Wealth LLC

Key Points

• BIP Wealth LLC bought 3,826 Nucor shares during the second quarter, valued at approximately $852,000. Institutional investors collectively own 76.48% of Nucor.
• Nucor reported quarterly EPS of $4.84, exceeding analyst expectations of $4.46, while revenue reached $10.40 billion and rose 23% year over year.
• The company pays a quarterly dividend of $0.56 per share, equivalent to a $2.24 annualized payout and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $273.31.

BIP Wealth LLC acquired a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,826 shares of the basic materials company's stock, valued at approximately $852,000.

A number of other hedge funds also recently bought and sold shares of NUE. Stance Capital LLC purchased a new position in Nucor during the third quarter valued at $25,000. Strive Financial Group LLC purchased a new position in shares of Nucor during the fourth quarter valued at about $27,000. Motiv8 Investments LLC bought a new stake in Nucor in the 4th quarter worth approximately $32,000. Bartlett & CO. Wealth Management LLC raised its stake in Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in shares of Nucor during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Stock Down 1.5%

NUE stock opened at $268.11 on Friday. The firm has a 50-day simple moving average of $247.15 and a 200-day simple moving average of $214.08. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11. The stock has a market capitalization of $60.83 billion, a P/E ratio of 21.38, a P/E/G ratio of 0.61 and a beta of 1.89. 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 (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 (EPS) for the quarter, topping analysts' consensus estimates of $4.46 by $0.38. The firm had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business's revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.60 earnings per share. Equities analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Nucor's payout ratio is currently 17.86%.

Insider Buying and Selling

In other Nucor news, EVP Randy J. Spicer sold 2,500 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the completion of the sale, the executive vice president directly owned 20,510 shares in the company, valued at $4,614,750. This represents a 10.86% decrease in their position. The sale 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 firm's 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 sale, 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 21,028 shares of company stock worth $5,355,535. 0.62% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NUE has been the subject of a number of analyst reports. Weiss Ratings restated a "hold (c+)" rating on shares of Nucor in a research report on Tuesday. BNP Paribas Exane lifted their target price on Nucor from $210.00 to $248.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Jefferies Financial Group lifted their price objective on shares of Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $240.00 to $282.00 and gave the stock an "overweight" rating in a report on Wednesday, June 10th. Finally, Wells Fargo & Company raised their price objective on Nucor from $283.00 to $297.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $273.31.

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.

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Corporation (NYSE:NUE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source