Woodard & Co. Asset Management Group Inc. ADV Acquires 2,236 Shares of Nucor Corporation $NUE

Woodard & Co. Asset Management Group Inc. ADV raised its holdings in Nucor Corporation (NYSE:NUE) by 12.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,872 shares of the basic materials company’s stock after buying an additional 2,236 shares during the quarter. Woodard & Co. Asset Management Group Inc. ADV’s holdings in Nucor were worth $3,241,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in NUE. Integrated Wealth Concepts LLC boosted its position in shares of Nucor by 21.1% during the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nucor during the first quarter valued at approximately $259,000. Geneos Wealth Management Inc. raised its stake in 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 last quarter. Sivia Capital Partners LLC purchased a new position in Nucor during the second quarter valued at $390,000. Finally, Cerity Partners LLC raised its stake in 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. 76.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Kenneth Rex Query sold 7,452 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the completion of the sale, the executive vice president owned 76,628 shares in the company, valued at approximately $15,020,620.56. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total value of $1,426,568.00. Following the sale, the executive vice president owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 22,520 shares of company stock valued at $4,245,334. 0.62% of the stock is owned by company insiders.

Nucor Stock Up 0.3%

NUE stock opened at $225.93 on Friday. Nucor Corporation has a 1-year low of $106.21 and a 1-year high of $227.96. The business has a fifty day moving average price of $180.91 and a 200-day moving average price of $169.01. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.57. The stock has a market capitalization of $51.43 billion, a P/E ratio of 22.37, a P/E/G ratio of 0.76 and a beta of 1.87.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.41. The firm had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 earnings per share. Equities analysts forecast that Nucor Corporation will post 13.64 earnings per share for the current fiscal year.

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

Nucor Announces Dividend

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

Analysts Set New Price Targets

NUE has been the subject of a number of recent research reports. 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 note on Tuesday, April 28th. Wells Fargo & Company lifted their price objective on Nucor from $213.00 to $244.00 and gave the company an “overweight” rating in a research note on Wednesday. KeyCorp initiated coverage on Nucor in a research note on Wednesday, March 25th. They set a “sector weight” rating for the company. Jefferies Financial Group lifted their price objective on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, BNP Paribas Exane lifted their price objective on Nucor from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $240.00.

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.