Bellwether Advisors LLC Makes New Investment in Nucor Corporation $NUE

Bellwether Advisors LLC acquired a new position in shares of Nucor Corporation (NYSE:NUE) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 17,765 shares of the basic materials company’s stock, valued at approximately $3,004,000.

A number of other institutional investors also recently modified their holdings of NUE. Stance Capital LLC acquired a new position in shares of Nucor in the 3rd quarter worth approximately $25,000. Strive Financial Group LLC acquired a new stake in Nucor during the 4th quarter valued at $27,000. Motiv8 Investments LLC acquired a new stake in Nucor during the 4th quarter valued at $32,000. Bartlett & CO. Wealth Management LLC raised its position in Nucor by 49.2% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 63 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new position in Nucor in the 4th quarter valued at $32,000. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NUE stock opened at $233.26 on Wednesday. The stock has a 50-day moving average price of $239.26 and a 200 day moving average price of $202.86. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The firm has a market cap of $53.12 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 0.53 and a beta of 1.91. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $270.90.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. The company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. Research analysts expect that Nucor Corporation will post 17.68 EPS for the current year.

Nucor Announces Dividend

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 issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio is currently 22.18%.

Insiders Place Their Bets

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction on 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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Noah C. Hanners sold 6,472 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the sale, the executive vice president owned 50,377 shares of the company’s stock, valued at $11,410,390.50. The trade was a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 82,378 shares of company stock valued at $18,963,930 over the last three months. 0.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

NUE has been the topic of several research analyst reports. Bank of America decreased their target price on Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. BNP Paribas Exane upped their price target on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Jefferies Financial Group increased their price objective on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. The Goldman Sachs Group raised their price objective on shares of Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Finally, Citigroup reaffirmed a “positive” rating on shares of Nucor in a research note on Wednesday, July 15th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.