Bellwether Advisors LLC Makes New Investment in Nucor Corporation $NUE

Key Points

• Bellwether Advisors LLC disclosed a new first-quarter stake in Nucor, buying 17,765 shares valued at about $3.0 million. Several other institutional investors also added to or initiated positions, and institutions now own 76.48% of the stock.
• Nucor posted better-than-expected Q1 earnings, with EPS of $3.23 versus estimates of $2.82 and revenue of $9.50 billion versus $8.88 billion expected. Revenue rose 21.3% year over year, and analysts now expect full-year EPS of 17.68.
• The company announced a quarterly dividend of $0.56 per share, payable August 11, representing a 1.0% annualized yield. Meanwhile, analysts remain broadly positive, with an average rating of Moderate Buy and an average price target of $266.31.

Bellwether Advisors LLC purchased a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 17,765 shares of the basic materials company's stock, valued at approximately $3,004,000.

A number of other institutional investors also recently modified their holdings of the company. Strive Financial Group LLC acquired a new stake in shares of Nucor in the fourth quarter valued at about $27,000. Stance Capital LLC bought a new position in shares of Nucor in the third quarter worth about $25,000. Bartlett & CO. Wealth Management LLC lifted its position in shares of Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock worth $32,000 after purchasing an additional 63 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new position in shares of Nucor during the 4th quarter worth about $32,000. Finally, Motiv8 Investments LLC bought a new stake in Nucor during the 4th quarter valued at approximately $32,000. Institutional investors own 76.48% of the company's stock.

Nucor Price Performance

NYSE:NUE opened at $233.26 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The company has a 50-day moving average of $239.26 and a 200-day moving average of $202.86. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $270.90. The company has a market capitalization of $53.12 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 0.53 and a beta of 1.91.

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

Nucor Dividend Announcement

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

Insider Buying and Selling

In related news, insider Michael D. Keller sold 4,554 shares of the business's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $225.86, for a total value of $1,028,566.44. Following the sale, the insider owned 16,834 shares of the company's stock, valued at $3,802,127.24. The trade was a 21.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 82,378 shares of company stock worth $18,963,930. Insiders own 0.62% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on NUE shares. The Goldman Sachs Group raised their target price on Nucor from $260.00 to $284.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. Weiss Ratings raised Nucor from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. raised their price objective on shares of Nucor from $240.00 to $282.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 10th. Citigroup reaffirmed a "positive" rating on shares of Nucor in a research report on Wednesday, July 15th. Finally, Zacks Research cut shares of Nucor from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $266.31.

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.

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