LMG Wealth Partners LLC Takes Position in Nucor Corporation $NUE

LMG Wealth Partners LLC acquired a new position in Nucor Corporation (NYSE:NUE) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 11,537 shares of the basic materials company’s stock, valued at approximately $1,951,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Nucor by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock worth $4,633,554,000 after buying an additional 144,038 shares in the last quarter. Morgan Stanley grew its stake in Nucor by 1.1% during the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock valued at $628,497,000 after acquiring an additional 41,728 shares in the last quarter. Norges Bank purchased a new position in Nucor during the fourth quarter valued at $609,002,000. Capital World Investors increased its holdings in Nucor by 20.1% in the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock valued at $412,081,000 after acquiring an additional 509,019 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in Nucor by 11.1% in the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock valued at $342,642,000 after acquiring an additional 210,577 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NUE stock opened at $244.70 on Tuesday. Nucor Corporation has a 52 week low of $122.82 and a 52 week high of $270.90. The firm has a market capitalization of $55.73 billion, a P/E ratio of 24.23, a price-to-earnings-growth ratio of 0.63 and a beta of 1.88. The company has a fifty day simple moving average of $231.61 and a two-hundred day simple moving average of $192.79. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The firm had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The business’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. Analysts anticipate that Nucor Corporation will post 15.68 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors 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 yield of 0.9%. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Seaport Research Partners increased their price objective on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Barclays initiated coverage on Nucor in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 target price on the stock. BNP Paribas Exane boosted their target price on Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Wall Street Zen raised Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Finally, Argus raised their price target on Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $266.33.

Insider Activity at Nucor

In other Nucor news, EVP Bradley Ford sold 2,240 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total transaction of $519,971.20. Following the sale, the executive vice president directly owned 43,649 shares in the company, valued at $10,132,242.37. This represents a 4.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael D. Keller sold 4,554 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $225.86, for a total value of $1,028,566.44. Following the completion of the sale, the insider directly owned 16,834 shares of the company’s stock, valued at $3,802,127.24. The trade was a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 82,378 shares of company stock valued at $18,963,930 over the last ninety days. 0.62% of the stock is currently owned by company insiders.

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.