Premier Path Wealth Partners LLC Decreases Stock Holdings in Nucor Corporation $NUE

Key Points

• Premier Path Wealth Partners cut its Nucor stake by 64.7% in the first quarter, selling 5,682 shares and leaving it with 3,095 shares valued at about $523,000.
• Nucor posted 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.
• The company also declared a quarterly dividend of $0.56 per share, and analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $266.92.

Premier Path Wealth Partners LLC reduced its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 64.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,095 shares of the basic materials company's stock after selling 5,682 shares during the period. Premier Path Wealth Partners LLC's holdings in Nucor were worth $523,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its position in Nucor by 745.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company's stock worth $13,614,000 after purchasing an additional 73,588 shares during the last quarter. Nordea Investment Management AB boosted its holdings 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 purchasing an additional 210,577 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Nucor in the 4th quarter valued at about $1,989,000. Oak Harvest Investment Services purchased a new stake in shares of Nucor in the 4th quarter valued at approximately $6,329,000. Finally, SG Americas Securities LLC increased its holdings in shares of Nucor by 123.5% during the 4th quarter. SG Americas Securities LLC now owns 85,474 shares of the basic materials company's stock worth $13,942,000 after buying an additional 47,235 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Up 0.7%

Nucor stock opened at $220.61 on Friday. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $270.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The firm has a 50 day moving average price of $237.71 and a 200 day moving average price of $196.72. The company has a market capitalization of $50.24 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 0.50 and a beta of 1.91.

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 analysts' consensus estimates of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same quarter in the previous year, the company earned $0.77 earnings per share. The firm's quarterly revenue was up 21.3% compared to the same quarter last year. Research analysts expect that Nucor Corporation will post 17.68 earnings per share for the current year.

Nucor Dividend Announcement

The company 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 $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Nucor's payout ratio is currently 22.18%.

Analyst Upgrades and Downgrades

NUE has been the topic of several analyst reports. Zacks Research lowered shares of Nucor from a "strong-buy" rating to a "hold" rating in a research report on Monday. The Goldman Sachs Group raised their target price on Nucor from $260.00 to $284.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. Argus lifted their target price on Nucor from $200.00 to $262.00 and gave the company a "buy" rating in a research report on Friday, May 15th. JPMorgan Chase & Co. upped their price target on Nucor from $240.00 to $282.00 and gave the company an "overweight" rating in a research note on Wednesday, June 10th. Finally, Citigroup increased their price target on Nucor from $180.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $266.92.

Insider Activity

In other Nucor news, EVP David A. Sumoski sold 33,068 shares of the business's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $225.67, for a total transaction of $7,462,455.56. Following the sale, the executive vice president directly owned 243,339 shares in the company, valued at $54,914,312.13. This represents a 11.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 97,865 shares in the company, valued at $25,294,187.90. This represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 82,378 shares of company stock worth $18,963,930 in the last quarter. 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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