Pacific Heights Asset Management LLC Purchases New Shares in Nucor Corporation $NUE

Pacific Heights Asset Management LLC acquired a new stake in Nucor Corporation (NYSE:NUE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 175,000 shares of the basic materials company’s stock, valued at approximately $38,981,000. Nucor makes up approximately 1.2% of Pacific Heights Asset Management LLC’s holdings, making the stock its 21st largest position.

Other large investors have also modified their holdings of the company. RKL Wealth Management LLC grew its position in shares of Nucor by 0.9% during the 1st quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company’s stock valued at $899,000 after acquiring an additional 48 shares during the period. Focus Financial Network Inc. increased its stake in shares of Nucor by 3.6% in the 2nd quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company’s stock valued at $316,000 after purchasing an additional 49 shares in the last quarter. Empirical Asset Management LLC raised its holdings in Nucor by 2.6% in the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock worth $347,000 after purchasing an additional 54 shares during the period. Moody National Bank Trust Division raised its holdings in Nucor by 4.6% in the 2nd quarter. Moody National Bank Trust Division now owns 1,396 shares of the basic materials company’s stock worth $311,000 after purchasing an additional 62 shares during the period. Finally, Bartlett & CO. Wealth Management LLC boosted its position in Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 63 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NYSE:NUE opened at $252.19 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The business’s 50 day moving average price is $246.51 and its 200-day moving average price is $218.75. The firm has a market capitalization of $57.21 billion, a PE ratio of 20.11, a P/E/G 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.

Nucor (NYSE:NUE) last posted its quarterly earnings data 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. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The firm had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the prior year, the company earned $2.60 EPS. The firm’s revenue was up 23.0% compared to the same quarter last year. As a group, equities research analysts expect that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Announces Dividend

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

Insider Activity

In related news, COO Stephen D. Laxton sold 3,968 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction dated 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 sale, the executive vice president directly owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,528 shares of company stock worth $4,793,035 over the last three months. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on NUE shares. Wall Street Zen raised Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Seaport Research Partners increased their target price on Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. The Goldman Sachs Group lifted their price target on shares of Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Weiss Ratings raised shares of Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Morgan Stanley set a $270.00 price objective on shares of Nucor in a research report on Wednesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $272.38.

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.