Journey Advisory Group LLC Sells 28,741 Shares of Nucor Corporation $NUE

Key Points

• Journey Advisory Group LLC cut its Nucor stake by 88.6% in the first quarter, selling 28,741 shares and leaving it with 3,694 shares worth about $625,000.
• Nucor reported strong quarterly results, with EPS of $3.23 beating estimates and revenue of $9.50 billion topping forecasts, while revenue rose 21.3% year over year.
• Wall Street remains broadly positive on Nucor, with a Moderate Buy consensus and an average price target of $266.31; the company also announced a quarterly dividend of $0.56 per share.

Journey Advisory Group LLC lowered its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 88.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,694 shares of the basic materials company's stock after selling 28,741 shares during the period. Journey Advisory Group LLC's holdings in Nucor were worth $625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its position in Nucor by 745.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company's stock valued at $13,614,000 after purchasing an additional 73,588 shares during the period. Nordea Investment Management AB raised its holdings in Nucor by 11.1% during the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company's stock worth $342,642,000 after buying an additional 210,577 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Nucor during the fourth quarter worth $1,989,000. Oak Harvest Investment Services bought a new position in shares of Nucor in the fourth quarter valued at $6,329,000. Finally, SG Americas Securities LLC grew its holdings in shares of Nucor by 123.5% during the fourth quarter. SG Americas Securities LLC now owns 85,474 shares of the basic materials company's stock valued at $13,942,000 after buying an additional 47,235 shares during the last quarter. Institutional investors own 76.48% of the company's stock.

Analyst Upgrades and Downgrades

NUE has been the subject of several recent research reports. UBS Group downgraded shares of Nucor from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $190.00 to $224.00 in a research report on Tuesday, April 28th. The Goldman Sachs Group lifted their price target on Nucor from $260.00 to $284.00 and gave the company a "buy" rating in a research note on Tuesday, June 16th. Barclays boosted their price objective on Nucor from $270.00 to $272.00 and gave the stock an "overweight" rating in a report on Wednesday. Citigroup reissued a "positive" rating on shares of Nucor in a research note on Wednesday. Finally, Weiss Ratings upgraded Nucor from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 14th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Nucor presently has a consensus rating of "Moderate Buy" and an average price target of $266.31.

Nucor Stock Down 0.5%

NUE stock opened at $235.73 on Friday. The stock has a market cap of $53.68 billion, a P/E ratio of 23.34, a P/E/G ratio of 0.54 and a beta of 1.91. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The stock's fifty day simple moving average is $239.02 and its two-hundred day simple moving average is $201.40. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $270.90.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.41. The firm had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The business's revenue was up 21.3% compared to the same quarter last year. During the same period last year, the firm posted $0.77 EPS. Analysts expect that Nucor Corporation will post 17.68 EPS for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Nucor's dividend payout ratio (DPR) is 22.18%.

Insiders Place Their Bets

In other news, insider Michael D. Keller sold 4,554 shares of the firm's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $225.86, for a total transaction of $1,028,566.44. Following the completion of the sale, the insider owned 16,834 shares in the company, valued at $3,802,127.24. This trade represents a 21.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Randy J. Spicer sold 2,500 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $225.00, for a total value of $562,500.00. Following the completion of the transaction, the executive vice president owned 20,510 shares in the company, valued at approximately $4,614,750. The trade was a 10.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 82,378 shares of company stock valued at $18,963,930. Company insiders own 0.62% of the company's stock.

About Nucor

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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