Independent Financial Group LLC Makes New Investment in Nucor Corporation $NUE

Independent Financial Group LLC purchased a new position in Nucor Corporation (NYSE:NUE) in the first quarter, HoldingsChannel.com reports. The fund purchased 2,342 shares of the basic materials company’s stock, valued at approximately $396,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Stance Capital LLC purchased a new stake in Nucor during the 3rd quarter worth about $25,000. Strive Financial Group LLC acquired a new position in Nucor in the 4th quarter valued at about $27,000. Motiv8 Investments LLC purchased a new position in Nucor in the 4th quarter valued at about $32,000. Mcguire Capital Advisors Inc. purchased a new position in Nucor in the 4th quarter valued at about $32,000. Finally, Reflection Asset Management acquired a new stake in shares of Nucor during the 4th quarter worth about $36,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NUE has been the subject of a number of recent research reports. Zacks Research downgraded shares of Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. BMO Capital Markets upped their price objective on shares of Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. KeyCorp upgraded shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 target price on the stock in a research report on Wednesday, June 24th. Citigroup reaffirmed a “positive” rating on shares of Nucor in a research note on Wednesday, July 15th. Finally, Morgan Stanley boosted their price target on Nucor from $227.00 to $258.00 and gave the company an “equal weight” rating in a report on Monday, June 22nd. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and an average price target of $266.31.

Insider Buying and Selling

In other news, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bradley Ford sold 2,240 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total transaction of $519,971.20. Following the completion of the transaction, the executive vice president directly owned 43,649 shares in the company, valued at approximately $10,132,242.37. This represents a 4.88% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 82,378 shares of company stock valued at $18,963,930. 0.62% of the stock is owned by corporate insiders.

Nucor Stock Performance

NYSE NUE opened at $247.81 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $270.90. The firm has a market capitalization of $56.44 billion, a P/E ratio of 24.54, a P/E/G ratio of 0.55 and a beta of 1.91. The business’s 50-day simple moving average is $239.91 and its 200-day simple moving average is $204.18.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter in the prior year, the company earned $0.77 EPS. The company’s revenue was up 21.3% on a year-over-year basis. Equities analysts predict that Nucor Corporation will post 17.53 EPS for the current year.

Nucor Dividend Announcement

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

Nucor 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.