Private Advisory Group LLC Acquires New Holdings in Nucor Corporation $NUE

Key Points

• Private Advisory Group LLC acquired 4,750 Nucor shares worth approximately $1.06 million during the second quarter. Institutional investors collectively own 76.48% of Nucor’s stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $273.31; several firms recently raised targets or upgraded the stock.
• Nucor exceeded quarterly earnings and revenue expectations, reporting $4.84 in EPS and $10.40 billion in revenue, while maintaining a quarterly dividend of $0.56 per share. Insiders, however, sold 21,028 shares worth $5.36 million over the past three months.

Private Advisory Group LLC acquired a new stake in Nucor Corporation (NYSE:NUE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 4,750 shares of the basic materials company's stock, valued at approximately $1,058,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its position in shares of Nucor by 21.1% during the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company's stock worth $393,000 after buying an additional 568 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Nucor in the 1st quarter worth approximately $259,000. Geneos Wealth Management Inc. increased its position in Nucor by 81.8% in the 1st 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 period. Sivia Capital Partners LLC acquired a new stake in Nucor in the 2nd quarter valued at approximately $390,000. Finally, Cerity Partners LLC raised its stake in Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company's stock valued at $5,263,000 after acquiring an additional 13,877 shares in the last quarter. Institutional investors own 76.48% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NUE. Weiss Ratings reiterated a "hold (c+)" rating on shares of Nucor in a research report on Tuesday. Wells Fargo & Company raised their price target on Nucor from $283.00 to $297.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. KeyCorp upgraded shares of Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 price objective on the stock in a research note on Wednesday, June 24th. Morgan Stanley set a $270.00 price objective on shares of Nucor in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group increased their target price on shares of Nucor from $260.00 to $284.00 and gave the company a "buy" rating in a research report on Tuesday, June 16th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Nucor has a consensus rating of "Moderate Buy" and a consensus target price of $273.31.

Nucor Price Performance

Shares of NYSE:NUE opened at $268.11 on Friday. The stock has a market cap of $60.83 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 0.60 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The stock's 50 day moving average price is $247.15 and its 200 day moving average price is $214.08.

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

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were issued a $0.56 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. Nucor's dividend payout ratio is 17.86%.

Insider Transactions at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the business's stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 21,028 shares of company stock worth $5,355,535. Corporate 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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