Focus Partners Advisor Solutions LLC Takes Position in Nucor Corporation $NUE

Focus Partners Advisor Solutions LLC acquired a new position in Nucor Corporation (NYSE:NUE) in the second quarter, HoldingsChannel.com reports. The firm acquired 3,014 shares of the basic materials company’s stock, valued at approximately $671,000.

Several other institutional investors have also added to or reduced their stakes in NUE. Integrated Wealth Concepts LLC raised its stake in shares of Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Nucor in the 1st quarter worth about $259,000. Geneos Wealth Management Inc. raised its position in Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after buying an additional 153 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Nucor during the 2nd quarter valued at about $390,000. Finally, Cerity Partners LLC boosted its holdings in shares of Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after acquiring an additional 13,877 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Up 1.4%

Shares of NUE stock opened at $272.73 on Tuesday. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The stock has a market cap of $61.88 billion, a P/E ratio of 21.75, a P/E/G ratio of 0.60 and a beta of 1.89. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The company has a 50 day simple moving average of $247.54 and a two-hundred day simple moving average of $215.03.

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

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis 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 at Nucor

In related news, COO Stephen D. Laxton sold 3,968 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was 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 approximately $20,008,704.32. The trade was a 4.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was 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. The trade was a 19.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 18,528 shares of company stock worth $4,793,035. Corporate insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Argus boosted their price objective on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a report on Friday, May 15th. Wells Fargo & Company lifted their target price on shares of Nucor from $283.00 to $297.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. CICC Research started coverage on Nucor in a report on Monday, May 25th. They set an “outperform” rating on the stock. Bank of America cut their price objective on Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Finally, BNP Paribas Exane upped their price objective on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $273.31.

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.