2,258 Shares in Nucor Corporation $NUE Bought by Perigon Wealth Management LLC

Perigon Wealth Management LLC bought a new position in shares of Nucor Corporation (NYSE:NUE) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,258 shares of the basic materials company’s stock, valued at approximately $503,000.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in Nucor by 745.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after purchasing an additional 73,588 shares during the period. California Public Employees Retirement System boosted its position in shares of Nucor by 19.3% in the first quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock worth $86,297,000 after buying an additional 82,668 shares during the period. Pacific Heights Asset Management LLC boosted its position in shares of Nucor by 12.9% in the fourth quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock worth $28,544,000 after buying an additional 20,000 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Nucor by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock valued at $306,054,000 after buying an additional 29,476 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Nucor during the fourth quarter valued at $23,804,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Trading Down 5.9%

Shares of NYSE NUE opened at $248.72 on Thursday. The business has a 50 day simple moving average of $247.72 and a 200 day simple moving average of $216.16. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11. The stock has a market cap of $56.43 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 0.59 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51.

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, beating the consensus estimate of $4.46 by $0.38. The firm had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.60 earnings per share. On average, research analysts predict that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.56 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

Insider Activity

In related news, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their position. 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 on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the sale, the executive vice president owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Morgan Stanley set a $270.00 price objective on Nucor in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nucor in a research note on Tuesday, August 11th. Wells Fargo & Company increased their price target on shares of Nucor from $283.00 to $297.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. CICC Research started coverage on shares of Nucor in a report on Monday, May 25th. They set an “outperform” rating for the company. Finally, Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $273.31.

About Nucor

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.