4,205 Shares in Nucor Corporation $NUE Acquired by Evolve Private Wealth LLC

Key Points

• Evolve Private Wealth LLC acquired 4,205 Nucor shares worth approximately $939,000, while institutional investors collectively own 76.48% of the company.
• Nucor reported quarterly EPS of $4.84, beating estimates of $4.46, and revenue of $10.40 billion, up 23% year over year. Analysts maintain a consensus “Moderate Buy” rating with a $273.31 target price.
• Company insiders sold 18,528 shares worth $4.79 million over the past three months. Nucor also declared a quarterly dividend of $0.56 per share, representing a 0.9% yield.

Evolve Private Wealth LLC purchased a new position in Nucor Corporation (NYSE:NUE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,205 shares of the basic materials company's stock, valued at approximately $939,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Nucor by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company's stock valued at $4,633,554,000 after purchasing an additional 144,038 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Nucor during the second quarter worth $4,452,563,000. Morgan Stanley increased its holdings in Nucor by 1.1% in the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company's stock valued at $628,497,000 after buying an additional 41,728 shares during the last quarter. Norges Bank acquired a new stake in Nucor in the fourth quarter valued at $609,002,000. Finally, Dimensional Fund Advisors LP raised its stake in Nucor by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company's stock valued at $429,298,000 after buying an additional 22,718 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Buying and Selling at Nucor

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the company's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the sale, the executive vice president directly owned 16,138 shares of the company's stock, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares of the company's stock, valued at $25,294,187.90. This trade represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on NUE. CICC Research began coverage on Nucor in a research report on Monday, May 25th. They set an "outperform" rating for the company. UBS Group upped their price target on Nucor from $224.00 to $256.00 and gave the company a "neutral" rating in a report on Tuesday, July 28th. Bank of America dropped their price target on shares of Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. BMO Capital Markets raised their price objective on shares of Nucor from $285.00 to $295.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Nucor in a research report on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $273.31.

Nucor Price Performance

Shares of NYSE NUE opened at $243.89 on Monday. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11. The stock has a 50 day moving average of $246.88 and a two-hundred day moving average of $217.05. The stock has a market cap of $55.33 billion, a P/E ratio of 19.45, a P/E/G ratio of 0.90 and a beta of 1.89.

Nucor (NYSE:NUE - Get Free Report) last announced its 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 business had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the firm posted $2.60 earnings per share. On average, research analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

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. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor's dividend payout ratio (DPR) is presently 17.86%.

About Nucor

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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