Wealthfront Advisers LLC Buys 2,552 Shares of Nucor Corporation $NUE

Wealthfront Advisers LLC boosted its stake in Nucor Corporation (NYSE:NUE) by 8.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,187 shares of the basic materials company’s stock after acquiring an additional 2,552 shares during the period. Wealthfront Advisers LLC’s holdings in Nucor were worth $5,250,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in NUE. AQR Capital Management LLC boosted its position in Nucor by 580.9% during the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after acquiring an additional 557,819 shares in the last quarter. Capital World Investors boosted its position in Nucor by 20.1% during the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock valued at $412,081,000 after acquiring an additional 509,019 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Nucor by 169.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock valued at $127,216,000 after acquiring an additional 489,950 shares in the last quarter. M&T Bank Corp boosted its position in Nucor by 494.5% during the 4th quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company’s stock valued at $70,873,000 after acquiring an additional 361,417 shares in the last quarter. Finally, Holocene Advisors LP boosted its position in Nucor by 146.9% during the 3rd quarter. Holocene Advisors LP now owns 548,911 shares of the basic materials company’s stock valued at $74,339,000 after acquiring an additional 326,572 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on NUE shares. BMO Capital Markets lifted their price objective on Nucor from $196.00 to $235.00 and gave the company an “outperform” rating in a research report on Tuesday. BNP Paribas Exane boosted their target price on shares of Nucor from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Monday, April 20th. KeyCorp assumed coverage on shares of Nucor in a report on Wednesday, March 25th. They set a “sector weight” rating on the stock. The Goldman Sachs Group restated a “buy” rating and set a $240.00 target price on shares of Nucor in a report on Wednesday. Finally, Citigroup boosted their target price on shares of Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and an average price target of $238.00.

Insider Transactions at Nucor

In related news, EVP Kenneth Rex Query sold 7,452 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the transaction, the executive vice president owned 76,628 shares in the company, valued at $15,020,620.56. The trade was a 8.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allen C. Behr sold 7,568 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the completion of the transaction, the executive vice president owned 67,711 shares in the company, valued at approximately $12,763,523.50. The trade was a 10.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 22,520 shares of company stock worth $4,245,334. 0.62% of the stock is currently owned by company insiders.

Nucor Stock Performance

Shares of NUE opened at $225.31 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average price is $180.91 and its 200-day moving average price is $168.78. Nucor Corporation has a 52 week low of $106.21 and a 52 week high of $227.48. The stock has a market cap of $51.29 billion, a P/E ratio of 22.31, a P/E/G ratio of 0.78 and a beta of 1.73.

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. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the previous year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Equities research analysts anticipate that Nucor Corporation will post 12.56 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be paid a $0.56 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Nucor’s payout ratio is presently 22.18%.

Nucor declared that its board has initiated a stock repurchase plan on Friday, February 20th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.