AdvisorShares Investments LLC Buys Shares of 3,600 Nucor Corporation $NUE

AdvisorShares Investments LLC purchased a new position in Nucor Corporation (NYSE:NUE) in the third quarter, HoldingsChannel reports. The institutional investor purchased 3,600 shares of the basic materials company’s stock, valued at approximately $488,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in NUE. Integrated Wealth Concepts LLC grew its position in Nucor by 21.1% in the first 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 in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Nucor during the first quarter valued at about $259,000. Geneos Wealth Management Inc. lifted its stake in Nucor by 81.8% during 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 during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Nucor in the 2nd quarter worth about $390,000. Finally, Clear Creek Financial Management LLC purchased a new position in shares of Nucor during the 2nd quarter valued at about $246,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NUE stock opened at $192.91 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $193.09. The firm has a market cap of $44.15 billion, a P/E ratio of 25.58, a P/E/G ratio of 0.70 and a beta of 1.86. The business’s 50 day moving average price is $169.44 and its 200-day moving average price is $152.37.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. Nucor’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 EPS. On average, equities research analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.55. Nucor’s payout ratio is presently 29.71%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NUE. Citigroup upped their target price on Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. BNP Paribas Exane boosted their price target on shares of Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. Seaport Research Partners boosted their price objective on Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. increased their price objective on Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average target price of $179.36.

Insider Activity at Nucor

In other Nucor news, EVP John J. Hollatz sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $149.88, for a total transaction of $1,049,160.00. Following the transaction, the executive vice president owned 96,550 shares in the company, valued at approximately $14,470,914. This represents a 6.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total value of $1,426,568.00. Following the completion of the transaction, the executive vice president owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. The trade was a 10.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 33,899 shares of company stock worth $5,794,577 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.

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.