Patriot Financial Group Insurance Agency LLC Boosts Stake in Nucor Corporation $NUE

Patriot Financial Group Insurance Agency LLC boosted its position in Nucor Corporation (NYSE:NUE) by 190.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,662 shares of the basic materials company’s stock after purchasing an additional 5,684 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Nucor were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its stake in shares of Nucor by 745.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after acquiring an additional 73,588 shares in the last quarter. Nordea Investment Management AB grew its stake in Nucor by 11.1% in the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock worth $342,642,000 after purchasing an additional 210,577 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in Nucor during the 4th quarter worth $1,989,000. Oak Harvest Investment Services bought a new stake in Nucor during the 4th quarter valued at $6,329,000. Finally, SG Americas Securities LLC raised its position in Nucor by 123.5% during the 4th quarter. SG Americas Securities LLC now owns 85,474 shares of the basic materials company’s stock valued at $13,942,000 after purchasing an additional 47,235 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Activity

In other Nucor news, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction on Monday, May 4th. The shares were sold at an average price of $226.08, for a total value of $2,282,503.68. Following the transaction, the executive vice president directly owned 62,871 shares of the company’s stock, valued at approximately $14,213,875.68. The trade was a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel R. Needham sold 12,888 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $226.00, for a total value of $2,912,688.00. Following the transaction, the executive vice president directly owned 89,724 shares in the company, valued at approximately $20,277,624. The trade was a 12.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 82,378 shares of company stock worth $18,963,930 over the last 90 days. 0.62% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Seaport Research Partners upped their price objective on shares of Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Argus increased their target price on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. BNP Paribas Exane raised their target price on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company reduced their price target on shares of Nucor from $292.00 to $283.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $266.92.

Nucor Trading Down 4.6%

NUE opened at $228.79 on Tuesday. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The firm has a market cap of $52.11 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 0.57 and a beta of 1.88. Nucor Corporation has a 12 month low of $128.46 and a 12 month high of $270.90. The stock has a fifty day moving average price of $236.59 and a 200-day moving average price of $195.55.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.41. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. As a group, equities research analysts anticipate that Nucor Corporation will post 17 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be given a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. Nucor’s payout ratio is presently 22.18%.

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.