FourThought Financial Partners LLC Acquires New Holdings in Nucor Corporation $NUE

FourThought Financial Partners LLC bought a new stake in Nucor Corporation (NYSE:NUE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,108 shares of the basic materials company’s stock, valued at approximately $421,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Integrated Wealth Concepts LLC increased its holdings 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 worth $393,000 after buying an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nucor during the 1st quarter valued at $259,000. Geneos Wealth Management Inc. boosted its holdings in shares of Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Nucor during the 2nd quarter worth $390,000. Finally, Savant Capital LLC grew its position in Nucor by 35.0% during the 2nd quarter. Savant Capital LLC now owns 15,925 shares of the basic materials company’s stock worth $2,063,000 after acquiring an additional 4,126 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $178.00, for a total transaction of $690,818.00. Following the completion of the sale, the executive vice president owned 88,298 shares of the company’s stock, valued at approximately $15,717,044. This represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 76,628 shares of the company’s stock, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 34,351 shares of company stock valued at $6,206,158. Insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

NUE has been the subject of several research reports. Morgan Stanley reiterated an “equal weight” rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. BMO Capital Markets boosted their price target on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. The Goldman Sachs Group upped their price objective on Nucor from $182.00 to $196.00 and gave the company a “buy” rating in a research note on Friday, January 16th. BNP Paribas Exane raised their price objective on shares of Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Finally, Wall Street Zen downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research report on Saturday. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $187.90.

Nucor Stock Up 0.7%

Shares of NYSE:NUE opened at $170.70 on Wednesday. The firm has a market cap of $38.88 billion, a P/E ratio of 22.64, a P/E/G ratio of 0.61 and a beta of 1.83. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $196.90. The business has a fifty day simple moving average of $177.09 and a 200 day simple moving average of $158.21. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 EPS. Analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

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

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be issued a $0.56 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 annualized dividend and a yield of 1.3%. Nucor’s dividend payout ratio is presently 29.71%.

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.