Wealthfront Advisers LLC Takes Position in Nucor Corporation $NUE

Key Points

• Wealthfront Advisers acquired 38,553 Nucor shares in the second quarter, valued at approximately $8.6 million. Institutional investors and hedge funds collectively own 76.48% of Nucor.
• Analysts maintain a generally positive view, with 12 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $273.31.
• Nucor exceeded quarterly expectations, reporting $4.84 in EPS and $10.40 billion in revenue, up 23% year over year. The company also pays a quarterly dividend of $0.56 per share, while insiders sold about $4.8 million of stock over the past 90 days.

Wealthfront Advisers LLC acquired a new stake in Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 38,553 shares of the basic materials company's stock, valued at approximately $8,588,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bell Investment Advisors Inc acquired a new stake in shares of Nucor during the 2nd quarter valued at approximately $28,000. Strive Financial Group LLC acquired a new stake in shares of Nucor in the 4th quarter worth approximately $27,000. Stance Capital LLC purchased a new position in Nucor in the 3rd quarter valued at approximately $25,000. Bartlett & CO. Wealth Management LLC increased its stake in Nucor by 49.2% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock valued at $32,000 after purchasing an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. acquired a new position in Nucor during the fourth quarter worth $32,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NUE. Bank of America lowered their target price on Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Wells Fargo & Company lifted their price target on Nucor from $283.00 to $297.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Zacks Research lowered shares of Nucor from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. UBS Group increased their price objective on shares of Nucor from $224.00 to $256.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. Finally, CICC Research initiated coverage on shares of Nucor in a research report on Monday, May 25th. They set an "outperform" rating for the company. Twelve 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.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $273.31.

Nucor Price Performance

NUE stock opened at $248.72 on Thursday. The company has a market cap of $56.43 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 0.59 and a beta of 1.89. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $247.72 and a two-hundred day moving average price of $216.16. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11.

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

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor's dividend payout ratio (DPR) is 17.86%.

Insider Buying and Selling at Nucor

In related news, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction on 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 completion of the sale, the executive vice president 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the company's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the sale, the executive vice president directly owned 16,138 shares in the company, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 18,528 shares of company stock worth $4,793,035 in the last 90 days. 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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