Corient IA LLC Makes New $301,000 Investment in Nucor Corporation $NUE

Key Points

• Corient IA LLC has made a new investment of $301,000 in Nucor Corporation, acquiring 2,500 shares during the first quarter.
• Insider activity included EVP Kenneth Rex Query selling 10,000 shares for approximately $1.3 million, reflecting a decrease of 9.61% in their stock ownership.
• Nucor recently reported earnings of $2.60 per share for the quarter, exceeding analyst expectations, with a 4.7% increase in revenue year-over-year.

Corient IA LLC acquired a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,500 shares of the basic materials company's stock, valued at approximately $301,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Nucor during the fourth quarter worth $25,000. Putney Financial Group LLC purchased a new position in Nucor during the fourth quarter worth $29,000. MV Capital Management Inc. boosted its stake in Nucor by 73.5% during the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after buying an additional 119 shares during the period. Fourth Dimension Wealth LLC purchased a new position in Nucor during the fourth quarter worth $41,000. Finally, Park Square Financial Group LLC purchased a new position in Nucor during the fourth quarter worth $48,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Kenneth Rex Query sold 10,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the transaction, the executive vice president owned 94,080 shares in the company, valued at $12,265,209.60. This represents a 9.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Allen C. Behr sold 8,021 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the transaction, the executive vice president owned 82,703 shares in the company, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,109 shares of company stock worth $3,360,094 over the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

Nucor Stock Up 0.8%

NYSE:NUE opened at $145.49 on Monday. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52. The company has a 50-day moving average of $135.77 and a 200 day moving average of $126.90. The firm has a market cap of $33.40 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.92 and a beta of 1.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, topping analysts' consensus estimates of $2.54 by $0.06. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The firm's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.68 earnings per share. As a group, research analysts anticipate that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, June 30th were issued a dividend of $0.55 per share. The ex-dividend date was Monday, June 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. Nucor's dividend payout ratio is 39.71%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NUE shares. Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Jefferies Financial Group raised shares of Nucor from a "hold" rating to a "buy" rating and boosted their target price for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Morgan Stanley boosted their target price on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Finally, UBS Group lowered their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $155.78.

Nucor Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.

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