HBK Sorce Advisory LLC Makes New Investment in Nucor Corporation $NUE

HBK Sorce Advisory LLC acquired a new position in shares of Nucor Corporation (NYSE:NUE) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,688 shares of the basic materials company’s stock, valued at approximately $4,035,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strive Financial Group LLC acquired a new stake in Nucor during the 4th quarter worth approximately $27,000. Stance Capital LLC acquired a new position in Nucor in the 3rd quarter valued at $25,000. Bartlett & CO. Wealth Management LLC increased its position in Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after buying an additional 63 shares during the period. Mcguire Capital Advisors Inc. bought a new position in Nucor during the 4th quarter worth $32,000. Finally, Motiv8 Investments LLC acquired a new stake in shares of Nucor during the fourth quarter worth $32,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

NUE opened at $268.11 on Monday. The firm has a market cap of $60.83 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 0.60 and a beta of 1.89. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $280.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The business’s fifty day moving average is $247.15 and its 200-day moving average is $214.33.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. The company had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.Nucor’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the business earned $2.60 earnings per share. Sell-side analysts expect that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

Insider Activity

In related news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the sale, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the transaction, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BNP Paribas Exane boosted their target price on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Barclays raised their price target on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. KeyCorp upgraded shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price objective for the company in a research note on Wednesday, June 24th. Argus lifted their price objective on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, CICC Research started coverage on shares of Nucor in a report on Monday, May 25th. They issued an “outperform” rating for the company. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $273.31.

Nucor Company 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.