Midland Wealth Advisors LLC Invests $17.80 Million in Nucor Corporation $NUE

Key Points

• Midland Wealth Advisors LLC acquired a new position of 109,141 Nucor shares valued at approximately $17.80 million in Q4, representing about 0.9% of its portfolio and the firm's 17th-largest holding.
• Nucor's board authorized a $4.0 billion share buyback (up to ~9.7% of shares) and analysts collectively rate the stock a "Moderate Buy" with a consensus price target of $195.60 after several upgrades and new coverage initiations.
• Company insiders sold a total of 26,401 shares worth roughly $4.94 million over the past three months (including EVP Daniel Needham and EVP Kenneth Rex Query), leaving insiders with about 0.62% ownership.

Midland Wealth Advisors LLC acquired a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 109,141 shares of the basic materials company's stock, valued at approximately $17,802,000. Nucor comprises about 0.9% of Midland Wealth Advisors LLC's investment portfolio, making the stock its 17th biggest position.

Several other hedge funds have also made changes to their positions in NUE. Stance Capital LLC acquired a new position in Nucor in the third quarter valued at $25,000. AXS Investments LLC acquired a new position in Nucor in the third quarter valued at $37,000. Vision Financial Markets LLC boosted its holdings in Nucor by 281.7% in the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. Caitlin John LLC acquired a new position in Nucor in the third quarter valued at $41,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 153 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the firm's stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the transaction, the executive vice president directly owned 88,298 shares of the company's stock, valued at $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the firm's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the transaction, the executive vice president directly owned 76,628 shares in the company, valued at $15,020,620.56. This trade represents a 8.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,401 shares of company stock valued at $4,936,152 over the last three months. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NUE. UBS Group upgraded Nucor from a "neutral" rating to a "buy" rating and lifted their target price for the company from $184.00 to $190.00 in a report on Thursday, March 26th. The Goldman Sachs Group began coverage on Nucor in a report on Wednesday, April 1st. They issued a "buy" rating and a $210.00 target price on the stock. KeyCorp began coverage on Nucor in a report on Wednesday, March 25th. They issued a "sector weight" rating on the stock. Morgan Stanley reiterated an "equal weight" rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a report on Friday, January 9th. Finally, BMO Capital Markets lifted their target price on Nucor from $190.00 to $196.00 and gave the company an "outperform" rating in a report on Tuesday, March 3rd. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $195.60.

Nucor Trading Up 2.0%

NYSE:NUE opened at $195.67 on Friday. The business's 50-day moving average is $175.76 and its two-hundred day moving average is $163.84. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. Nucor Corporation has a 12 month low of $105.92 and a 12 month high of $197.13. The firm has a market capitalization of $44.54 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 0.68 and a beta of 1.73.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company had revenue of $7.69 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same period last year, the business earned $1.22 earnings per share. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor announced that its Board of Directors has initiated a share buyback program on Friday, February 20th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be given a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 annualized dividend and a yield of 1.1%. Nucor's dividend payout ratio (DPR) is 29.71%.

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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