Nucor Corporation $NUE Shares Purchased by Corient Private Wealth LLC

Key Points

• Corient Private Wealth LLC increased its Nucor stake by 17.5% in the fourth quarter, adding 9,512 shares to bring its total holdings to 63,832 shares worth about $10.4 million.
• Nucor reported strong quarterly results, posting EPS of $3.23 versus the $2.82 estimate and revenue of $9.5 billion, up 21.3% year over year.
• The company announced a quarterly dividend of $0.56 per share, payable August 11, with a 0.9% annualized yield; analysts currently rate the stock a Moderate Buy with an average target price of $266.92.

Corient Private Wealth LLC raised its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 17.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 63,832 shares of the basic materials company's stock after acquiring an additional 9,512 shares during the period. Corient Private Wealth LLC's holdings in Nucor were worth $10,417,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NUE. Vanguard Group Inc. increased its holdings in shares of Nucor by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company's stock valued at $4,633,554,000 after purchasing an additional 144,038 shares during the period. Morgan Stanley lifted its holdings in shares of Nucor by 1.1% during the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company's stock worth $628,497,000 after purchasing an additional 41,728 shares during the period. Norges Bank acquired a new stake in shares of Nucor during the fourth quarter worth $609,002,000. Capital World Investors grew its position in Nucor by 20.1% in the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company's stock valued at $412,081,000 after buying an additional 509,019 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Nucor by 11.1% in the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company's stock valued at $342,642,000 after buying an additional 210,577 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Up 0.2%

Nucor stock opened at $240.13 on Thursday. Nucor Corporation has a fifty-two week low of $127.75 and a fifty-two week high of $270.90. The firm has a market capitalization of $54.69 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 0.59 and a beta of 1.88. The stock's fifty day moving average is $233.69 and its two-hundred day moving average is $193.86. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (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 business had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter in the previous year, the company posted $0.77 EPS. The business's revenue was up 21.3% on a year-over-year basis. Analysts predict that Nucor Corporation will post 16.34 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be given 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 payout ratio is presently 22.18%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NUE. Wall Street Zen raised shares of Nucor from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Bank of America raised their target price on shares of Nucor from $265.00 to $290.00 in a research note on Friday, June 12th. Morgan Stanley lifted their target price on shares of Nucor from $227.00 to $258.00 and gave the company an "equal weight" rating in a report on Monday. Argus boosted their price target on shares of Nucor from $200.00 to $262.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Finally, Seaport Research Partners increased their price target on shares of Nucor from $245.00 to $285.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, Nucor presently has an average rating of "Moderate Buy" and an average target price of $266.92.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 12,888 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $226.00, for a total value of $2,912,688.00. Following the sale, the executive vice president owned 89,724 shares of the company's stock, valued at $20,277,624. This represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Noah C. Hanners sold 6,472 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the completion of the sale, the executive vice president owned 50,377 shares in the company, valued at $11,410,390.50. This represents a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 82,378 shares of company stock valued at $18,963,930 in the last quarter. 0.62% of the stock is owned by corporate insiders.

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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