WealthPLAN Partners LLC Has $2.12 Million Stock Position in Nucor Corporation $NUE

Key Points

• WealthPLAN Partners LLC reduced its Nucor stake by 37.8% in the first quarter, selling 7,616 shares and leaving it with 12,542 shares valued at about $2.12 million.
• Nucor beat earnings expectations in its latest quarter, reporting $3.23 EPS on revenue of $9.50 billion, while analysts still expect full-year EPS of 17.68.
• Several analysts have turned more bullish on Nucor, with multiple firms raising price targets; the stock currently has a Moderate Buy consensus and a $266.92 average target price.

WealthPLAN Partners LLC cut its position in shares of Nucor Corporation (NYSE:NUE - Free Report) by 37.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,542 shares of the basic materials company's stock after selling 7,616 shares during the period. WealthPLAN Partners LLC's holdings in Nucor were worth $2,121,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NUE. Integrated Wealth Concepts LLC lifted its holdings in shares of Nucor by 21.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company's stock worth $393,000 after acquiring an additional 568 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Nucor in the first quarter worth about $259,000. Geneos Wealth Management Inc. raised 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 worth $41,000 after purchasing an additional 153 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Nucor during the second quarter worth about $390,000. Finally, Cerity Partners LLC lifted its stake in 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 purchasing an additional 13,877 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NUE. Zacks Research lowered Nucor from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Seaport Research Partners raised their target price on Nucor from $245.00 to $285.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. BNP Paribas Exane boosted their price target on Nucor from $210.00 to $248.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. increased their price objective on Nucor from $240.00 to $282.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 10th. Finally, Citigroup lifted their price objective on Nucor from $180.00 to $260.00 and gave the company 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 issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $266.92.

Nucor Trading Up 1.6%

NUE stock opened at $227.53 on Wednesday. The business has a fifty day moving average price of $238.32 and a 200 day moving average price of $198.04. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $270.90. The stock has a market capitalization of $51.82 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 0.51 and a beta of 1.91.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping 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 firm earned $0.77 earnings per share. The business's revenue was up 21.3% on a year-over-year basis. Analysts expect that Nucor Corporation will post 17.68 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Nucor's dividend payout ratio is currently 22.18%.

Insider Transactions at Nucor

In other Nucor news, EVP Randy J. Spicer sold 2,500 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $225.00, for a total value of $562,500.00. Following the completion of the sale, the executive vice president owned 20,510 shares in the company, valued at approximately $4,614,750. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the company'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 transaction of $2,729,337.60. Following the transaction, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 82,378 shares of company stock worth $18,963,930. 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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