Independent Financial Group LLC Acquires New Position in Nucor Corporation $NUE

Independent Financial Group LLC acquired a new stake in Nucor Corporation (NYSE:NUE) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,342 shares of the basic materials company’s stock, valued at approximately $396,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Stance Capital LLC purchased a new position in shares of Nucor during the 3rd quarter worth approximately $25,000. Strive Financial Group LLC purchased a new stake in shares of Nucor in the fourth quarter valued at approximately $27,000. Motiv8 Investments LLC acquired a new position in Nucor during the fourth quarter worth $32,000. Mcguire Capital Advisors Inc. acquired a new position in Nucor during the fourth quarter worth $32,000. Finally, Reflection Asset Management purchased a new position in Nucor in the fourth quarter worth $36,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE stock opened at $247.81 on Friday. The stock has a fifty day moving average price of $239.91 and a 200 day moving average price of $204.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The stock has a market cap of $56.44 billion, a PE ratio of 24.54, a P/E/G ratio of 0.55 and a beta of 1.91. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $270.90.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate 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 prior year, the company earned $0.77 earnings per share. Nucor’s revenue was up 21.3% compared to the same quarter last year. Sell-side analysts forecast that Nucor Corporation will post 17.53 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be given a $0.56 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor’s payout ratio is currently 22.18%.

Insider Transactions at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Bradley Ford sold 2,240 shares of Nucor stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total transaction of $519,971.20. Following the transaction, the executive vice president owned 43,649 shares of the company’s stock, valued at approximately $10,132,242.37. The trade was a 4.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 82,378 shares of company stock worth $18,963,930 in the last 90 days. Insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings raised Nucor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. UBS Group cut shares of Nucor from a “buy” rating to a “neutral” rating and upped their price target for the stock from $190.00 to $224.00 in a research note on Tuesday, April 28th. BNP Paribas Exane increased their price target on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. BMO Capital Markets raised their price objective on shares of Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Bank of America decreased their price objective on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average target price of $266.31.

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.