LFG Wealth Partners LLC Purchases New Position in Nucor Corporation $NUE

LFG Wealth Partners LLC purchased a new stake in shares of Nucor Corporation (NYSE:NUE) in the fourth quarter, Holdings Channel.com reports. The firm purchased 10,072 shares of the basic materials company’s stock, valued at approximately $1,643,000. Nucor accounts for about 1.0% of LFG Wealth Partners LLC’s holdings, making the stock its 27th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC grew its holdings in Nucor by 11.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 40,113 shares of the basic materials company’s stock worth $6,543,000 after buying an additional 3,963 shares in the last quarter. Panagora Asset Management Inc. grew its stake in shares of Nucor by 1,130.2% in the 4th quarter. Panagora Asset Management Inc. now owns 23,312 shares of the basic materials company’s stock worth $3,802,000 after acquiring an additional 21,417 shares in the last quarter. Sargent Investment Group LLC purchased a new stake in shares of Nucor in the fourth quarter valued at about $252,000. MML Investors Services LLC lifted its position in shares of Nucor by 15.8% during the fourth quarter. MML Investors Services LLC now owns 30,813 shares of the basic materials company’s stock valued at $5,026,000 after purchasing an additional 4,195 shares in the last quarter. Finally, Motiv8 Investments LLC purchased a new position in Nucor during the fourth quarter worth about $32,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Price Performance

Shares of NYSE:NUE opened at $259.31 on Tuesday. The company has a 50-day moving average price of $224.34 and a two-hundred day moving average price of $189.65. Nucor Corporation has a twelve month low of $120.40 and a twelve month high of $270.90. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $59.06 billion, a PE ratio of 25.67, a P/E/G ratio of 0.67 and a beta of 1.88.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. The company had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. Nucor’s revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS. Equities analysts forecast that Nucor Corporation will post 15.71 EPS for the current year.

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

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be given a $0.56 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor’s payout ratio is 22.18%.

Insider Buying and Selling

In related news, EVP David A. Sumoski sold 33,068 shares of the stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $225.67, for a total transaction of $7,462,455.56. Following the sale, the executive vice president owned 243,339 shares of the company’s stock, valued at approximately $54,914,312.13. This represents a 11.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel R. Needham sold 12,888 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $226.00, for a total value of $2,912,688.00. Following the completion of the transaction, the executive vice president owned 89,724 shares of the company’s stock, valued at approximately $20,277,624. This represents a 12.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 82,378 shares of company stock valued at $18,963,930 in the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. BMO Capital Markets increased their price target on Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. The Goldman Sachs Group lifted their price target on Nucor from $240.00 to $260.00 in a report on Friday, May 1st. Weiss Ratings upgraded Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 14th. Finally, Barclays began coverage on Nucor in a research report on Thursday, May 21st. They set an “overweight” rating and a $270.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $261.54.

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.