6,987 Shares in Nucor Corporation $NUE Bought by Beacon Financial Advisory LLC

Key Points

• Beacon Financial Advisory LLC opened a new position in Nucor during the first quarter, buying 6,987 shares valued at about $1.18 million.
• Nucor recently posted strong quarterly results, with earnings per share of $3.23 beating estimates and revenue of $9.50 billion topping forecasts; revenue also rose 21.3% year over year.
• The company announced a quarterly dividend of $0.56 per share, payable August 11, while analysts maintain a Moderate Buy consensus and an average price target of $266.92.

Beacon Financial Advisory LLC acquired a new position in Nucor Corporation (NYSE:NUE - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,987 shares of the basic materials company's stock, valued at approximately $1,182,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Nucor by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company's stock worth $4,633,554,000 after acquiring an additional 144,038 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Nucor by 1.1% during the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company's stock valued at $628,497,000 after purchasing an additional 41,728 shares during the last quarter. Norges Bank purchased a new position in shares of Nucor during the fourth quarter valued at approximately $609,002,000. Capital World Investors lifted its holdings in shares of Nucor by 20.1% during the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company's stock valued at $412,081,000 after purchasing an additional 509,019 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Nucor by 11.1% in the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company's stock worth $342,642,000 after purchasing an additional 210,577 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of several recent research reports. BNP Paribas Exane upped their price target on Nucor from $210.00 to $248.00 and gave the stock an "outperform" rating in a research note on Monday, May 4th. Seaport Research Partners lifted their price objective on Nucor from $245.00 to $285.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Morgan Stanley boosted their target price on Nucor from $227.00 to $258.00 and gave the stock an "equal weight" rating in a report on Monday, June 22nd. Wells Fargo & Company cut their target price on Nucor from $292.00 to $283.00 and set an "overweight" rating on the stock in a research note on Thursday, June 18th. Finally, JPMorgan Chase & Co. raised their price target on Nucor from $240.00 to $282.00 and gave the company an "overweight" rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Nucor has a consensus rating of "Moderate Buy" and an average target price of $266.92.

Insider Buying and Selling at Nucor

In related news, EVP Bradley Ford sold 2,240 shares of Nucor stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total transaction of $519,971.20. Following the transaction, the executive vice president directly owned 43,649 shares in the company, valued at approximately $10,132,242.37. The trade was a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 10,096 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $226.08, for a total value of $2,282,503.68. Following the sale, the executive vice president directly owned 62,871 shares of the company's stock, valued at $14,213,875.68. This represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is owned by corporate insiders.

Nucor Stock Down 0.1%

Nucor stock opened at $220.61 on Friday. The firm has a market cap of $50.24 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 0.50 and a beta of 1.91. The stock has a fifty day simple moving average of $237.84 and a two-hundred day simple moving average of $196.89. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $270.90. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.41. The firm had revenue of $9.50 billion during the quarter, compared to analysts' expectations of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company's revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. Equities analysts predict that Nucor Corporation will post 17.68 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Nucor's payout ratio is currently 22.18%.

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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