Sanctuary Advisors LLC Invests $10.93 Million in Nucor Corporation $NUE

Sanctuary Advisors LLC acquired a new stake in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 49,085 shares of the basic materials company’s stock, valued at approximately $10,934,000.

Several other hedge funds have also recently made changes to their positions in the company. Bell Investment Advisors Inc purchased a new stake in Nucor in the 2nd quarter worth about $28,000. Strive Financial Group LLC purchased a new stake in Nucor during the fourth quarter valued at about $27,000. Stance Capital LLC bought a new position in Nucor during the third quarter worth about $25,000. Bartlett & CO. Wealth Management LLC increased its stake in shares of Nucor by 49.2% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of Nucor in the fourth quarter worth about $32,000. 76.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was 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 in the company, valued at $4,212,340.76. The trade was a 19.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,528 shares of company stock valued at $4,793,035 in the last quarter. Insiders own 0.62% of the company’s stock.

Nucor Price Performance

NUE opened at $244.32 on Tuesday. The stock’s 50 day simple moving average is $246.58 and its 200 day simple moving average is $217.46. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11. The firm has a market cap of $55.43 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 0.90 and a beta of 1.89.

Nucor (NYSE:NUE) last announced 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 during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.60 earnings per share. As a group, analysts predict that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on NUE shares. Bank of America lowered their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Wells Fargo & Company dropped their price objective on Nucor from $297.00 to $285.00 and set an “overweight” rating for the company in a research note on Monday. Zacks Research lowered Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nucor in a research report on Tuesday, August 11th. Finally, UBS Group increased their target price on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $272.38.

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.