4,052 Shares in Nucor Corporation $NUE Bought by NewEdge Wealth LLC

NewEdge Wealth LLC acquired a new position in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,052 shares of the basic materials company’s stock, valued at approximately $903,000.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Nucor by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock worth $4,633,554,000 after buying an additional 144,038 shares during the last quarter. BlackRock Inc. purchased a new stake in Nucor during the 2nd quarter valued at approximately $4,452,563,000. Morgan Stanley lifted its position in Nucor by 1.1% during the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after acquiring an additional 41,728 shares during the period. Norges Bank acquired a new stake in Nucor during the 4th quarter worth approximately $609,002,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Nucor by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after purchasing an additional 22,718 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,528 shares of company stock worth $4,793,035 over the last 90 days. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NUE shares. CICC Research initiated coverage on Nucor in a report on Monday, May 25th. They issued an “outperform” rating on the stock. Barclays boosted their price objective on shares of Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Zacks Research downgraded shares of Nucor from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Seaport Research Partners raised their target price on shares of Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, Citigroup reiterated a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.31.

Nucor Trading Up 1.4%

Shares of NUE stock opened at $243.89 on Friday. The business’s fifty day moving average price is $246.88 and its 200 day moving average price is $216.80. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11. The firm has a market capitalization of $55.33 billion, a PE ratio of 19.45, a P/E/G ratio of 0.89 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36.

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

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

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.