Berkshire Hathaway Inc purchased a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,857,752 shares of the basic materials company's stock, valued at approximately $413,814,000. Nucor comprises approximately 0.1% of Berkshire Hathaway Inc's holdings, making the stock its 22nd biggest position. Berkshire Hathaway Inc owned approximately 0.82% of Nucor at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Integrated Wealth Concepts LLC raised its position in Nucor by 21.1% during the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company's stock worth $393,000 after acquiring an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nucor in the first quarter valued at approximately $259,000. Geneos Wealth Management Inc. increased its stake in shares of Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock worth $41,000 after purchasing an additional 153 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Nucor during the 2nd quarter worth approximately $390,000. Finally, Cerity Partners LLC raised its position in shares of Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company's stock worth $5,263,000 after purchasing an additional 13,877 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Nucor
In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the firm's stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president directly owned 97,865 shares of the company's stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares of the company's stock, valued at $20,008,704.32. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on NUE. Seaport Research Partners upped their target price on Nucor from $245.00 to $285.00 and gave the company a "buy" rating in a research note on Wednesday, June 10th. Zacks Research cut Nucor from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Citigroup reissued a "buy" rating on shares of Nucor in a report on Wednesday, July 29th. JPMorgan Chase & Co. upped 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. Finally, CICC Research started coverage on Nucor in a research note on Monday, May 25th. They set an "outperform" rating on the stock. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $272.38.
Check Out Our Latest Report on NUE
Nucor Stock Performance
Shares of NUE opened at $252.69 on Thursday. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11. The company's 50 day simple moving average is $246.35 and its 200 day simple moving average is $218.33. The company has a market capitalization of $57.33 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 0.92 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51.
Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.38. The company had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.Nucor's revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.60 EPS. On average, sell-side analysts predict that Nucor Corporation will post 17.95 EPS for the current year.
Nucor Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were given a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor's payout ratio is currently 17.86%.
Nucor Profile
(
Free Report)
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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