Centaurus Financial Inc. Acquires New Position in Nucor Corporation $NUE

Centaurus Financial Inc. bought a new position in shares of Nucor Corporation (NYSE:NUE) during the second quarter, HoldingsChannel.com reports. The firm bought 6,659 shares of the basic materials company’s stock, valued at approximately $1,483,000.

Several other institutional investors have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Nucor by 745.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after purchasing an additional 73,588 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Nucor by 19.3% during the first quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock worth $86,297,000 after purchasing an additional 82,668 shares in the last quarter. Pacific Heights Asset Management LLC grew its stake in shares of Nucor by 12.9% during the fourth quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock worth $28,544,000 after purchasing an additional 20,000 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Nucor by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock valued at $306,054,000 after buying an additional 29,476 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Nucor in the fourth quarter valued at $23,804,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the company’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 value of $1,044,080.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 18,528 shares of company stock valued at $4,793,035. 0.62% of the stock is owned by company insiders.

Nucor Trading Down 0.2%

Shares of Nucor stock opened at $252.19 on Friday. 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 company has a market capitalization of $57.21 billion, a P/E ratio of 20.11, a PEG ratio of 0.94 and a beta of 1.89. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11. The company’s fifty day moving average is $246.51 and its two-hundred day moving average is $218.75.

Nucor (NYSE:NUE) last announced 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. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The business’s revenue was up 23.0% compared to the same quarter last year. Analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. KeyCorp raised Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price target for the company in a report on Wednesday, June 24th. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. BMO Capital Markets upped their price target on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. BNP Paribas Exane increased their price target on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, Weiss Ratings raised shares of Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $272.38.

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.