Wealthfront Advisers LLC Acquires New Position in Nucor Corporation $NUE

Wealthfront Advisers LLC acquired a new stake in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 38,553 shares of the basic materials company’s stock, valued at approximately $8,588,000.

Other large investors also recently bought and sold shares of the company. Stance Capital LLC bought a new stake in shares of Nucor in the 3rd quarter valued at approximately $25,000. Strive Financial Group LLC acquired a new stake in shares of Nucor during the 4th quarter valued at approximately $27,000. Bell Investment Advisors Inc bought a new position in Nucor during the second quarter worth $28,000. Motiv8 Investments LLC acquired a new position in Nucor in the fourth quarter worth $32,000. Finally, Bartlett & CO. Wealth Management LLC boosted its holdings in Nucor by 49.2% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 63 shares during the period. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 5.9%

Shares of NUE stock opened at $248.72 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11. The stock has a fifty day moving average of $247.72 and a two-hundred day moving average of $216.16. The firm has a market capitalization of $56.43 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 0.59 and a beta of 1.89.

Nucor (NYSE:NUE) last issued its quarterly 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 for the quarter, compared to analyst estimates of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period last year, the company earned $2.60 earnings per share. As a group, research analysts expect that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NUE shares. Citigroup restated a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. Argus raised their target price on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Jefferies Financial Group lifted their target price on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Zacks Research lowered Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Finally, BMO Capital Markets increased their price target on Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $273.31.

Insider Buying and Selling at Nucor

In other news, COO Stephen D. Laxton sold 3,968 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the transaction, the executive vice president owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 18,528 shares of company stock valued at $4,793,035. Company insiders own 0.62% of the company’s stock.

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.