Braun Stacey Associates Inc. Lowers Stock Position in Nucor Corporation $NUE

Key Points

• Braun Stacey Associates reduced its Nucor stake by 9.1% in the second quarter, selling 12,792 shares and retaining 127,156 shares worth approximately $28.3 million. Institutional investors collectively own 76.48% of Nucor.
• Nucor reported quarterly earnings of $4.84 per share, exceeding estimates of $4.46, while revenue rose 23% year over year to $10.40 billion. The company also maintains a quarterly dividend of $0.56 per share, representing a 0.9% yield.
• Analyst sentiment remains favorable, with 13 Buy ratings and three Holds producing a consensus “Moderate Buy” rating and an average price target of $272.38. However, Nucor insiders sold 18,528 shares worth roughly $4.8 million during the last quarter.

Braun Stacey Associates Inc. cut its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 9.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 127,156 shares of the basic materials company's stock after selling 12,792 shares during the period. Braun Stacey Associates Inc. owned approximately 0.06% of Nucor worth $28,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its holdings in shares of Nucor by 21.1% in the 1st 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 Nucor in the 1st quarter valued at approximately $259,000. Geneos Wealth Management Inc. increased its holdings in Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 153 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Nucor in the second quarter valued at approximately $390,000. Finally, Cerity Partners LLC raised its position in Nucor by 51.9% in the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company's stock valued at $5,263,000 after purchasing an additional 13,877 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of NUE stock 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 52 week low of $131.32 and a 52 week high of $280.11. The stock has a market capitalization of $56.91 billion, a PE ratio of 20.00, a P/E/G ratio of 0.94 and a beta of 1.89. The firm has a 50 day moving average of $246.64 and a two-hundred day moving average of $218.97.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly 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 the consensus estimate of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company's quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.60 earnings per share. On average, research analysts predict that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Insiders Place Their Bets

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the 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 owned 97,865 shares of the company's stock, valued at $25,294,187.90. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the chief operating officer owned 77,867 shares of the company's stock, valued at $20,008,704.32. The trade was a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,528 shares of company stock worth $4,793,035 in the last quarter. 0.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. The Goldman Sachs Group upped their price target on Nucor from $260.00 to $284.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. Weiss Ratings upgraded Nucor from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday. Seaport Research Partners increased their target price on Nucor from $245.00 to $285.00 and gave the stock a "buy" rating in a research note on Wednesday, June 10th. JPMorgan Chase & Co. raised their target price on Nucor from $240.00 to $282.00 and gave the company an "overweight" rating in a report on Wednesday, June 10th. Finally, UBS Group lifted their target price on Nucor from $224.00 to $256.00 and gave the company a "neutral" rating in a research report on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $272.38.

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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