LFG Wealth Partners LLC Acquires Shares of 10,072 Nucor Corporation $NUE

LFG Wealth Partners LLC acquired a new position in shares of Nucor Corporation (NYSE:NUE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 10,072 shares of the basic materials company’s stock, valued at approximately $1,643,000. Nucor accounts for 1.0% of LFG Wealth Partners LLC’s holdings, making the stock its 27th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Stance Capital LLC bought a new position in Nucor during the third quarter worth about $25,000. Motiv8 Investments LLC bought a new stake in Nucor in the 4th quarter valued at about $32,000. Ares Financial Consulting LLC bought a new stake in Nucor in the 4th quarter valued at about $45,000. Caitlin John LLC acquired a new position in shares of Nucor during the 3rd quarter worth approximately $41,000. Finally, Geneos Wealth Management Inc. increased its holdings 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 purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In other news, EVP Noah C. Hanners sold 6,472 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $226.50, for a total value of $1,465,908.00. Following the completion of the sale, the executive vice president directly owned 50,377 shares in the company, valued at $11,410,390.50. This trade represents a 11.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David A. Sumoski sold 33,068 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $225.67, for a total value of $7,462,455.56. Following the transaction, the executive vice president directly owned 243,339 shares in the company, valued at approximately $54,914,312.13. This trade represents a 11.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 82,378 shares of company stock valued at $18,963,930 over the last ninety days. Insiders own 0.62% of the company’s stock.

Nucor Trading Down 2.6%

Shares of NYSE NUE opened at $259.31 on Tuesday. The firm has a 50 day moving average price of $224.34 and a two-hundred day moving average price of $189.65. The stock has a market cap of $59.06 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 0.67 and a beta of 1.88. Nucor Corporation has a 52-week low of $120.40 and a 52-week high of $270.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. Nucor’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.77 earnings per share. As a group, equities analysts forecast that Nucor Corporation will post 15.71 EPS for the current year.

Nucor declared that its Board of Directors has initiated a share repurchase program on Friday, February 20th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Nucor Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NUE shares. Jefferies Financial Group lifted their price target on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. BMO Capital Markets raised their price objective on Nucor from $250.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Seaport Research Partners lifted their price objective on Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Argus increased their target price on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Wells Fargo & Company boosted their price target on Nucor from $244.00 to $292.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $261.54.

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.