Royal Capital Wealth Management LLC Invests $766,000 in Nucor Corporation $NUE

Royal Capital Wealth Management LLC acquired a new stake in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,437 shares of the basic materials company’s stock, valued at approximately $766,000.

A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Nucor during the 2nd quarter worth $4,452,563,000. Norges Bank acquired a new stake in shares of Nucor during the fourth quarter worth $609,002,000. Bank of New York Mellon Corp purchased a new stake in shares of Nucor in the second quarter valued at $330,902,000. Legal & General Group Plc purchased a new stake in shares of Nucor in the second quarter valued at $324,154,000. Finally, Deutsche Bank AG acquired a new position in Nucor in the second quarter valued at $220,176,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity

In other news, COO Stephen D. Laxton sold 3,968 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the transaction, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. The trade was a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 Stock Up 0.3%

Shares of NYSE:NUE opened at $244.32 on Tuesday. 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 market capitalization of $55.43 billion, a P/E ratio of 19.48, a PEG ratio of 0.90 and a beta of 1.89. The stock has a 50-day simple moving average of $246.58 and a 200-day simple moving average of $217.46.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating the consensus estimate of $4.46 by $0.38. The firm had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. Nucor’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.60 earnings per share. Equities analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Announces Dividend

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

Analysts Set New Price Targets

Several research firms recently weighed in on NUE. Zacks Research downgraded Nucor from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Wells Fargo & Company lowered their price target on Nucor from $297.00 to $285.00 and set an “overweight” rating for the company in a report on Monday. Bank of America dropped their price objective on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. UBS Group increased their price objective on shares of Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Finally, 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 research report on Wednesday, June 24th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.