apricus wealth LLC Purchases 5,495 Shares of Nucor Corporation $NUE

Key Points

• Apricus Wealth LLC increased its holdings in Nucor Corporation by 31.4%, acquiring an additional 5,495 shares during the 2nd quarter, bringing its total to 23,020 shares worth approximately $2,982,000.
• Bank of America boosted Nucor's target price from $150.00 to $165.00 and reaffirmed a "buy" rating, while multiple analysts have rated the stock as a Moderate Buy with an average target price of $157.60.
• Nucor recently announced a quarterly dividend of $0.55 per share, reflecting an annualized dividend of $2.20 with a yield of 1.6%.

apricus wealth LLC increased its position in shares of Nucor Corporation (NYSE:NUE - Free Report) by 31.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,020 shares of the basic materials company's stock after acquiring an additional 5,495 shares during the period. Nucor comprises 1.7% of apricus wealth LLC's holdings, making the stock its 22nd largest holding. apricus wealth LLC's holdings in Nucor were worth $2,982,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NUE. Matrix Trust Co increased its stake in shares of Nucor by 53.8% in the 2nd quarter. Matrix Trust Co now owns 240 shares of the basic materials company's stock valued at $31,000 after purchasing an additional 84 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after buying an additional 153 shares in the last quarter. Meeder Asset Management Inc. grew its position in Nucor by 209.6% in the first quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company's stock valued at $50,000 after acquiring an additional 283 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Nucor by 49.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 442 shares of the basic materials company's stock worth $57,000 after acquiring an additional 147 shares in the last quarter. Finally, Proathlete Wealth Management LLC bought a new position in shares of Nucor in the second quarter worth about $58,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NUE shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nucor in a report on Wednesday, October 8th. Bank of America boosted their target price on shares of Nucor from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and increased their price target for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. The Goldman Sachs Group cut their price objective on Nucor from $182.00 to $173.00 and set a "buy" rating on the stock in a report on Monday, September 22nd. Finally, Wells Fargo & Company lowered their target price on Nucor from $146.00 to $140.00 and set an "equal weight" rating for the company in a report on Thursday, September 18th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Nucor currently has an average rating of "Moderate Buy" and an average target price of $157.60.

Nucor Stock Performance

NYSE NUE opened at $136.65 on Tuesday. The company has a market capitalization of $31.37 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 0.94 and a beta of 1.75. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The stock has a fifty day simple moving average of $140.90 and a 200 day simple moving average of $130.13.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, beating analysts' consensus estimates of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the previous year, the company posted $2.68 EPS. The business's revenue was up 4.7% on a year-over-year basis. Sell-side analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor's dividend payout ratio is currently 39.71%.

Insider Activity

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $144.90, for a total transaction of $1,449,000.00. Following the completion of the sale, the executive vice president directly owned 84,080 shares in the company, valued at approximately $12,183,192. This trade represents a 10.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael D. Keller sold 6,088 shares of Nucor stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the transaction, the insider directly owned 22,464 shares of the company's stock, valued at approximately $3,333,882.24. This trade represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,309 shares of company stock valued at $4,553,771. 0.46% of the stock is owned by corporate insiders.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.

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