Concurrent Investment Advisors LLC Has $3.59 Million Holdings in Nucor Corporation $NUE

Key Points

• Concurrent Investment Advisors more than doubled its Nucor position in the second quarter, increasing holdings by 118.6% to 16,102 shares valued at approximately $3.59 million. Institutional investors and hedge funds collectively own 76.48% of Nucor.
• Nucor reported quarterly earnings of $4.84 per share, exceeding the $4.46 analyst consensus, while revenue rose 23% year over year to $10.40 billion. Analysts expect full-year earnings of approximately $17.95 per share.
• Wall Street maintains a positive outlook, with 13 analysts rating Nucor a Buy and three rating it a Hold; the stock has a “Moderate Buy” consensus and an average price target of $272.38 versus its reported opening price of $260.98.

Concurrent Investment Advisors LLC increased its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 118.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,102 shares of the basic materials company's stock after purchasing an additional 8,735 shares during the period. Concurrent Investment Advisors LLC's holdings in Nucor were worth $3,587,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. RKL Wealth Management LLC increased its holdings in shares of Nucor by 0.9% in the 1st quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company's stock valued at $899,000 after acquiring an additional 48 shares during the period. Focus Financial Network Inc. lifted its stake in shares of Nucor by 3.6% during the 2nd quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company's stock worth $316,000 after purchasing an additional 49 shares during the last quarter. Empirical Asset Management LLC boosted its position in Nucor by 2.6% during the fourth quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company's stock valued at $347,000 after purchasing an additional 54 shares in the last quarter. Moody National Bank Trust Division boosted its position in Nucor by 4.6% during the second quarter. Moody National Bank Trust Division now owns 1,396 shares of the basic materials company's stock valued at $311,000 after purchasing an additional 62 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its stake in Nucor by 49.2% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 63 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Down 0.0%

NUE stock opened at $260.98 on Tuesday. The firm's fifty day simple moving average is $248.81 and its 200-day simple moving average is $222.15. The company has a market capitalization of $59.21 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 0.97 and a beta of 1.87. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NUE shares. Wall Street Zen upgraded shares of Nucor from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Seaport Research Partners lifted their price objective on shares of Nucor from $245.00 to $285.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Argus boosted their price objective on shares of Nucor from $200.00 to $262.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Barclays increased their target price on shares of Nucor from $272.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Finally, KeyCorp upgraded shares of Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 target price for the company in a research note on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Nucor has a consensus rating of "Moderate Buy" and an average price target of $272.38.

Insiders Place Their Bets

In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares in the company, valued at $4,212,340.76. This trade represents a 19.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.62% of the company's stock.

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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