Morningstar Investment Management LLC Acquires Shares of 6,247 Nucor Corporation $NUE

Morningstar Investment Management LLC bought a new stake in Nucor Corporation (NYSE:NUE) during the 1st quarter, HoldingsChannel reports. The fund bought 6,247 shares of the basic materials company’s stock, valued at approximately $1,056,000.

Other institutional investors have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its position in Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 568 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Nucor in the first quarter worth about $259,000. Geneos Wealth Management Inc. boosted its position 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 valued at $41,000 after buying an additional 153 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Nucor during the second quarter valued at approximately $390,000. Finally, Cerity Partners LLC grew its stake in shares of Nucor by 51.9% during the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after buying an additional 13,877 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NYSE:NUE opened at $247.81 on Friday. The firm’s 50 day simple moving average is $239.91 and its 200-day simple moving average is $204.18. 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 Corporation has a one year low of $131.32 and a one year high of $270.90. The firm has a market cap of $56.44 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 0.57 and a beta of 1.91.

Nucor (NYSE:NUE) last announced its quarterly 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. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. Nucor’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, equities analysts predict that Nucor Corporation will post 17.53 EPS for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor’s payout ratio is 22.18%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. BNP Paribas Exane increased their price target on Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Weiss Ratings upgraded Nucor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. Citigroup reaffirmed a “positive” rating on shares of Nucor in a research report on Wednesday, July 15th. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Finally, BMO Capital Markets lifted their target price on Nucor from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $266.31.

Insiders Place Their Bets

In other news, EVP Allen C. Behr sold 10,096 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the transaction, the executive vice president owned 62,871 shares in the company, valued at approximately $14,213,875.68. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, the executive vice president owned 97,865 shares of the company’s stock, valued at $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is owned by company insiders.

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.