Nucor Corporation $NUE Holdings Decreased by Waverly Advisors LLC

Key Points

• Waverly Advisors reduced its Nucor stake by 13.4% in the second quarter, selling 10,405 shares and retaining 67,411 shares valued at approximately $15 million. Institutional investors collectively own 76.48% of NUE.
• Wall Street remains broadly positive on Nucor, with 13 analysts rating the stock a Buy and three a Hold. The consensus rating is “Moderate Buy,” with an average price target of $272.38.
• Nucor exceeded quarterly expectations, reporting $4.84 EPS versus the $4.46 consensus and $10.40 billion in revenue, up 23% year over year. However, company insiders recently sold shares, and the stock was trading at $256.49.

Waverly Advisors LLC lowered its stake in Nucor Corporation (NYSE:NUE - Free Report) by 13.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,411 shares of the basic materials company's stock after selling 10,405 shares during the quarter. Waverly Advisors LLC's holdings in Nucor were worth $15,016,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NUE. Transamerica Financial Advisors LLC acquired a new stake in shares of Nucor in the 2nd quarter worth approximately $25,000. Stance Capital LLC acquired a new position in shares of Nucor during the third quarter valued at approximately $25,000. Manning & Napier Advisors LLC bought a new stake in Nucor during the second quarter worth approximately $27,000. Strive Financial Group LLC acquired a new stake in Nucor in the fourth quarter worth approximately $27,000. Finally, Bell Investment Advisors Inc acquired a new stake in Nucor in the second quarter worth approximately $28,000. Institutional investors own 76.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NUE shares. Barclays lifted their price target on Nucor from $272.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. The Goldman Sachs Group upped their price objective on Nucor from $260.00 to $284.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. Wells Fargo & Company lowered their target price on Nucor from $297.00 to $285.00 and set an "overweight" rating on the stock in a report on Monday, August 24th. Seaport Research Partners boosted their price target 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. Finally, BMO Capital Markets upped their price target on shares of Nucor from $285.00 to $295.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Nucor currently has an average rating of "Moderate Buy" and a consensus price target of $272.38.

Insider Activity at Nucor

In other Nucor news, COO Stephen Laxton sold 3,968 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. This represents a 4.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas Batterbee sold 4,000 shares of Nucor stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the sale, the executive vice president directly owned 16,138 shares of the company's stock, valued at $4,212,340.76. This trade represents a 19.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is currently owned by corporate insiders.

Nucor Trading Down 1.8%

NYSE NUE opened at $256.49 on Wednesday. The firm's 50 day moving average price is $249.48 and its two-hundred day moving average price is $222.65. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11. The stock has a market cap of $58.19 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 0.97 and a beta of 1.87.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.38. The firm had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.60 EPS. Equities analysts anticipate that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Profile

Nucor Corporation is a Charlotte, North Carolina-based steel and steel products company. It manufactures carbon, alloy and stainless steel products, including sheet, plate, bar, structural steel, rail, wire rod, rebar and merchant bar. The company also produces steel joists, deck, beams, piling, wire products, fasteners, grating, metal building systems and other fabricated steel products.

Nucor operates an integrated network of electric arc furnace steel mills, recycling facilities and downstream manufacturing operations.

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