Sagespring Wealth Partners LLC Invests $396,000 in Nucor Corporation (NYSE:NUE)

Sagespring Wealth Partners LLC bought a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 3,289 shares of the basic materials company's stock, valued at approximately $396,000.

A number of other institutional investors have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in Nucor in the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new position in Nucor in the 4th quarter worth approximately $29,000. MV Capital Management Inc. boosted its holdings in Nucor by 73.5% in the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after acquiring an additional 119 shares during the period. Fourth Dimension Wealth LLC purchased a new position in Nucor in the 4th quarter worth approximately $41,000. Finally, Park Square Financial Group LLC purchased a new position in Nucor in the 4th quarter worth approximately $48,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group decreased their price target on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Morgan Stanley set a $164.00 price target on Nucor in a report on Monday, March 24th. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group cut their target price on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. cut their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $157.22.

Nucor Stock Performance

NUE stock opened at $126.21 on Thursday. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32. The firm has a market cap of $29.12 billion, a P/E ratio of 22.46, a P/E/G ratio of 0.77 and a beta of 1.67. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The stock's 50 day simple moving average is $115.72 and its 200 day simple moving average is $123.15.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.15). The firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The business's revenue was down 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.46 earnings per share. As a group, equities research analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.74%. The ex-dividend date is Monday, June 30th. Nucor's dividend payout ratio is currently 39.15%.

Insider Activity at Nucor

In related news, CEO Leon J. Topalian sold 34,238 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the sale, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at approximately $19,590,128.67. This represents a 17.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.46% of the company's stock.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.

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