Sanctuary Advisors LLC Takes Position in Nucor Corporation $NUE

Key Points

• Sanctuary Advisors LLC acquired 49,085 Nucor shares in the second quarter, valued at approximately $10.9 million. Institutional investors collectively own 76.48% of Nucor.
• Nucor’s latest quarterly results exceeded expectations, with EPS of $4.84 versus the $4.46 consensus and revenue of $10.40 billion, up 23% year over year.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $272.38, while Nucor continues to pay a quarterly dividend of $0.56 per share.

Sanctuary Advisors LLC purchased a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 49,085 shares of the basic materials company's stock, valued at approximately $10,934,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its stake in shares of Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company's stock valued at $393,000 after purchasing an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Nucor in the 1st quarter valued at approximately $259,000. Geneos Wealth Management Inc. boosted its position in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after buying an additional 153 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Nucor during the second quarter worth $390,000. Finally, Cerity Partners LLC increased its holdings in shares of Nucor by 51.9% during the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company's stock worth $5,263,000 after buying an additional 13,877 shares in the last quarter. Institutional investors own 76.48% of the company's stock.

Insiders Place Their Bets

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the business's stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president directly owned 97,865 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of the 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 transaction, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America cut their price objective on Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Weiss Ratings reissued a "hold (c+)" rating on shares of Nucor in a research note on Tuesday, August 11th. Zacks Research downgraded Nucor from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Barclays raised their price objective on shares of Nucor from $272.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Finally, KeyCorp raised shares of Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 target price on the stock in a report on Wednesday, June 24th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Nucor presently has an average rating of "Moderate Buy" and a consensus target price of $272.38.

Nucor Trading Up 0.3%

Shares of NUE stock opened at $244.32 on Tuesday. The stock has a market cap of $55.43 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 0.90 and a beta of 1.89. The stock has a 50-day moving average of $246.58 and a 200-day moving average of $217.46. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11.

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

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors 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 yield of 0.9%. Nucor's payout ratio is presently 17.86%.

Nucor Company 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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