Patriot Financial Group Insurance Agency LLC Purchases 5,684 Shares of Nucor Corporation $NUE

Patriot Financial Group Insurance Agency LLC lifted its position in shares of Nucor Corporation (NYSE:NUE) by 190.9% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,662 shares of the basic materials company’s stock after buying an additional 5,684 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Nucor were worth $1,465,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NUE. Adams Diversified Equity Fund Inc. purchased a new stake in Nucor in the 1st quarter worth $14,069,000. Cornerstone Wealth Group LLC boosted its stake in shares of Nucor by 4.0% in the first quarter. Cornerstone Wealth Group LLC now owns 2,298 shares of the basic materials company’s stock worth $389,000 after acquiring an additional 89 shares during the period. Union Bancaire Privee UBP SA boosted its stake in shares of Nucor by 84.9% in the first quarter. Union Bancaire Privee UBP SA now owns 13,140 shares of the basic materials company’s stock worth $2,222,000 after acquiring an additional 6,032 shares during the period. Cambient Family Office LLC grew its position in shares of Nucor by 9.5% during the first quarter. Cambient Family Office LLC now owns 2,234 shares of the basic materials company’s stock worth $379,000 after purchasing an additional 193 shares in the last quarter. Finally, TigerOak Management L.L.C. purchased a new stake in shares of Nucor during the first quarter worth about $230,000. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In related news, EVP Daniel R. Needham sold 12,888 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the sale, the executive vice president owned 89,724 shares in the company, valued at approximately $20,277,624. This represents a 12.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Noah C. Hanners sold 6,472 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $226.50, for a total value of $1,465,908.00. Following the completion of the sale, the executive vice president owned 50,377 shares of the company’s stock, valued at approximately $11,410,390.50. This represents a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 82,378 shares of company stock worth $18,963,930. Company insiders own 0.62% of the company’s stock.

Nucor Stock Down 4.6%

Shares of NYSE:NUE opened at $228.79 on Tuesday. The company has a market cap of $52.11 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 0.57 and a beta of 1.88. Nucor Corporation has a 12 month low of $128.46 and a 12 month high of $270.90. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $236.59 and a 200 day moving average price of $195.55.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, equities research analysts predict that Nucor Corporation will post 17 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. Nucor’s payout ratio is currently 22.18%.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of research analyst reports. Seaport Research Partners boosted their price target on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. KeyCorp raised shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 target price on the stock in a report on Wednesday, June 24th. BNP Paribas Exane upped their target price on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Finally, BMO Capital Markets raised their target price on shares of Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $266.92.

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.