Vigilare Wealth Management Invests $225,000 in Nucor Corporation $NUE

Vigilare Wealth Management purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,735 shares of the basic materials company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Nucor by 2.6% during the first quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock worth $3,484,965,000 after acquiring an additional 745,671 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Nucor by 18.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock valued at $277,920,000 after purchasing an additional 355,364 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Nucor by 5.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,772,831 shares of the basic materials company’s stock worth $213,342,000 after buying an additional 92,363 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in Nucor in the 1st quarter worth about $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Nucor by 16.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,610,933 shares of the basic materials company’s stock worth $193,863,000 after buying an additional 226,343 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nucor

In related news, EVP Kenneth Rex Query sold 10,000 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $144.90, for a total transaction of $1,449,000.00. Following the completion of the sale, the executive vice president owned 84,080 shares of the company’s stock, valued at $12,183,192. This represents a 10.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Daniel R. Needham sold 7,200 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the completion of the transaction, the executive vice president owned 92,179 shares of the company’s stock, valued at approximately $13,458,134. This trade represents a 7.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,309 shares of company stock worth $4,553,771. Company insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on NUE shares. Bank of America lifted their price target on shares of Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, September 15th. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and lifted their price target for the company from $135.00 to $170.00 in a report on Thursday, July 31st. Morgan Stanley lifted their price target on shares of Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, June 20th. JPMorgan Chase & Co. lifted their price target on shares of Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Finally, The Goldman Sachs Group decreased their price target on shares of Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.60.

Nucor Stock Performance

Shares of NUE stock opened at $135.43 on Wednesday. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. The firm has a market capitalization of $31.09 billion, a P/E ratio of 24.45, a P/E/G ratio of 0.94 and a beta of 1.76. The company’s fifty day moving average price is $142.24 and its two-hundred day moving average price is $128.84.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the previous year, the business posted $2.68 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, research analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Tuesday, September 30th. Nucor’s dividend payout ratio is 39.71%.

Nucor Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.