NewEdge Wealth LLC Invests $903,000 in Nucor Corporation $NUE

NewEdge Wealth LLC acquired a new stake in Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,052 shares of the basic materials company’s stock, valued at approximately $903,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NUE. Integrated Wealth Concepts LLC boosted its stake in shares of Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after buying an additional 568 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nucor during the first quarter worth approximately $259,000. Geneos Wealth Management Inc. increased its stake in shares of 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 buying an additional 153 shares during the period. Sivia Capital Partners LLC acquired a new stake in Nucor in the second quarter valued at approximately $390,000. Finally, Cerity Partners LLC lifted its stake in Nucor by 51.9% in the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after acquiring an additional 13,877 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Zacks Research cut shares of Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Citigroup reaffirmed a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. BNP Paribas Exane boosted their target price on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. UBS Group increased their target price on Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Finally, BMO Capital Markets raised their price target on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $273.31.

Insider Buying and Selling at Nucor

In other news, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction dated 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 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 transaction was disclosed in a document filed 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 dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the sale, the executive vice president directly owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 18,528 shares of company stock worth $4,793,035 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Nucor Stock Performance

Shares of Nucor stock opened at $243.89 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11. The firm’s 50 day moving average is $246.88 and its two-hundred day moving average is $216.80. The firm has a market capitalization of $55.33 billion, a P/E ratio of 19.45, a P/E/G ratio of 0.89 and a beta of 1.89.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share 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 business had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the previous year, the firm earned $2.60 EPS. The company’s revenue was up 23.0% compared to the same quarter last year. Research analysts forecast that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor’s payout ratio is 17.86%.

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.