71 West Capital Partners Purchases New Shares in Nucor Corporation $NUE

71 West Capital Partners purchased a new stake in Nucor Corporation (NYSE:NUE) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,925 shares of the basic materials company’s stock, valued at approximately $803,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Empirical Asset Management LLC grew its stake in Nucor by 2.6% in the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock valued at $347,000 after acquiring an additional 54 shares during the period. Krilogy Financial LLC grew its stake in Nucor by 4.1% in the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock valued at $272,000 after acquiring an additional 61 shares during the period. Rosenberg Matthew Hamilton grew its stake in Nucor by 3.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company’s stock valued at $328,000 after acquiring an additional 69 shares during the period. HUB Investment Partners LLC grew its stake in Nucor by 1.9% in the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company’s stock valued at $531,000 after acquiring an additional 75 shares during the period. Finally, Global Assets Advisory LLC grew its stake in Nucor by 3.0% in the 4th quarter. Global Assets Advisory LLC now owns 2,677 shares of the basic materials company’s stock valued at $437,000 after acquiring an additional 77 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling

In other Nucor 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 value 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Noah C. Hanners sold 6,472 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $226.50, for a total value of $1,465,908.00. Following the completion of the transaction, the executive vice president owned 50,377 shares in the company, valued at $11,410,390.50. The trade was a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 82,378 shares of company stock worth $18,963,930 in the last ninety days. Company insiders own 0.62% of the company’s stock.

Nucor Trading Down 2.6%

Shares of NUE stock opened at $259.31 on Tuesday. The stock’s fifty day moving average is $224.34 and its two-hundred day moving average is $189.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The firm has a market capitalization of $59.06 billion, a P/E ratio of 25.67, a PEG ratio of 0.67 and a beta of 1.88. Nucor Corporation has a fifty-two week low of $120.40 and a fifty-two week high of $270.90.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Research analysts expect that Nucor Corporation will post 15.71 earnings per share for the current fiscal year.

Nucor declared that its board has approved a stock repurchase program on Friday, February 20th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 9.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Nucor Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Nucor from $244.00 to $292.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Morgan Stanley lifted their price target on shares of Nucor from $180.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. BNP Paribas Exane lifted their price target on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Weiss Ratings raised shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 14th. Finally, Argus lifted their price target on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.54.

About Nucor

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.