Beacon Pointe Advisors LLC Makes New $2.15 Million Investment in Nucor Corporation $NUE

Key Points

• Beacon Pointe Advisors purchased 9,684 Nucor shares worth approximately $2.15 million, while institutional investors collectively own 76.48% of the company.
• Analysts remain broadly positive, with 13 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $272.38.
• Nucor exceeded quarterly earnings expectations, reporting $4.84 in EPS and $10.40 billion in revenue, while paying a $0.56 quarterly dividend; however, company insiders sold 18,528 shares worth about $4.79 million during the latest quarter.

Beacon Pointe Advisors LLC purchased a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,684 shares of the basic materials company's stock, valued at approximately $2,155,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Transamerica Financial Advisors LLC acquired a new stake in shares of Nucor in the 2nd quarter valued at approximately $25,000. Stance Capital LLC acquired a new stake in Nucor in the third quarter worth $25,000. Manning & Napier Advisors LLC bought a new position in shares of Nucor during the second quarter worth $27,000. Strive Financial Group LLC bought a new position in shares of Nucor during the fourth quarter worth $27,000. Finally, Bell Investment Advisors Inc acquired a new position in shares of Nucor in the 2nd quarter valued at $28,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Wall Street Analyst Weigh In

NUE has been the subject of a number of research analyst reports. BNP Paribas Exane boosted their target price on Nucor from $210.00 to $248.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. CICC Research assumed coverage on Nucor in a report on Monday, May 25th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. boosted their price objective on Nucor from $240.00 to $282.00 and gave the company an "overweight" rating in a research report on Wednesday, June 10th. Barclays increased their target price on Nucor from $272.00 to $295.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Finally, 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 research note on Thursday, July 9th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Nucor presently has a consensus rating of "Moderate Buy" and a consensus price target of $272.38.

Insider Activity

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares in the company, valued at $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen D. Laxton sold 3,968 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the transaction, the chief operating officer directly owned 77,867 shares in the company, 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 18,528 shares of company stock worth $4,793,035 in the last quarter. Corporate insiders own 0.62% of the company's stock.

Nucor Price Performance

Shares of NUE opened at $250.84 on Friday. 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 Corporation has a twelve month low of $131.32 and a twelve month high of $280.11. The stock has a market capitalization of $56.91 billion, a P/E ratio of 20.00, a P/E/G ratio of 0.93 and a beta of 1.89. The company has a 50 day moving average of $246.64 and a 200-day moving average of $218.97.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping the consensus estimate of $4.46 by $0.38. The business had revenue of $10.40 billion during the quarter, compared to analysts' expectations of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm's revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.60 earnings per share. As a group, equities research analysts forecast that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor's dividend payout ratio is currently 17.86%.

Nucor 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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