LMG Wealth Partners LLC Makes New $1.95 Million Investment in Nucor Corporation $NUE

Key Points

• LMG Wealth Partners LLC initiated a new position in Nucor during the first quarter, buying 11,537 shares valued at about $1.95 million.
• Nucor has continued to attract major institutional interest, with large investors like Norges Bank and AQR Capital Management expanding stakes; overall, 76.48% of the stock is institutionally owned.
• The company reported better-than-expected quarterly results with EPS of $3.23 on revenue of $9.50 billion, and it also announced a quarterly dividend of $0.56 per share payable August 11.

LMG Wealth Partners LLC bought a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,537 shares of the basic materials company's stock, valued at approximately $1,951,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of NUE. Norges Bank bought a new stake in shares of Nucor in the fourth quarter worth $609,002,000. AQR Capital Management LLC lifted its holdings in Nucor by 580.9% in the second quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company's stock valued at $84,699,000 after acquiring an additional 557,819 shares during the period. Capital World Investors lifted its holdings in Nucor by 20.1% in the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company's stock valued at $412,081,000 after acquiring an additional 509,019 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Nucor by 169.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company's stock worth $127,216,000 after purchasing an additional 489,950 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Nucor by 27.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company's stock worth $290,405,000 after purchasing an additional 383,952 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of Nucor from $292.00 to $283.00 and set an "overweight" rating for the company in a research report on Thursday. Wall Street Zen raised shares of Nucor from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Jefferies Financial Group boosted their target price on shares of Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. upped their target price on shares of Nucor from $240.00 to $282.00 and gave the company an "overweight" rating in a report on Wednesday, June 10th. Finally, Argus upped their target price on shares of Nucor from $200.00 to $262.00 and gave the company a "buy" rating in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Nucor currently has a consensus rating of "Moderate Buy" and a consensus target price of $266.33.

Nucor Stock Performance

Shares of NUE opened at $244.70 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The business has a 50-day simple moving average of $231.61 and a two-hundred day simple moving average of $192.79. The stock has a market cap of $55.73 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 0.63 and a beta of 1.88. Nucor Corporation has a 52 week low of $122.82 and a 52 week high of $270.90.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter last year, the company earned $0.77 earnings per share. The business's revenue for the quarter was up 21.3% compared to the same quarter last year. On average, analysts expect that Nucor Corporation will post 15.68 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.56 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor's dividend payout ratio (DPR) is presently 22.18%.

Insider Activity at Nucor

In other news, insider Michael D. Keller sold 4,554 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $225.86, for a total value of $1,028,566.44. Following the completion of the sale, the insider directly owned 16,834 shares of the company's stock, valued at $3,802,127.24. This represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,378 shares of company stock worth $18,963,930 in the last 90 days. Insiders own 0.62% of the company's stock.

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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