Maridea Wealth Management LLC Acquires New Holdings in Nucor Corporation $NUE

Maridea Wealth Management LLC bought a new position in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,613 shares of the basic materials company’s stock, valued at approximately $582,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Strive Financial Group LLC acquired a new stake in Nucor in the fourth quarter valued at $27,000. Stance Capital LLC bought a new position in Nucor during the 3rd quarter worth $25,000. Bartlett & CO. Wealth Management LLC lifted its holdings in Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after buying an additional 63 shares during the period. Mcguire Capital Advisors Inc. acquired a new position in Nucor during the 4th quarter worth about $32,000. Finally, Motiv8 Investments LLC bought a new stake in shares of Nucor in the 4th quarter valued at about $32,000. 76.48% of the stock is owned by institutional investors.

Nucor Stock Performance

Shares of NUE opened at $268.11 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The firm’s fifty day simple moving average is $247.15 and its two-hundred day simple moving average is $214.08. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The stock has a market capitalization of $60.83 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 0.60 and a beta of 1.89.

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

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.8%. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Seaport Research Partners increased their price target on Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Argus lifted their price objective on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Morgan Stanley set a $270.00 target price on shares of Nucor in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group raised their price target on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $273.31.

Insiders Place Their Bets

In other Nucor news, EVP Randy J. Spicer sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the transaction, the executive vice president directly owned 20,510 shares of the company’s stock, valued at approximately $4,614,750. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 21,028 shares of company stock valued at $5,355,535. Company insiders own 0.62% of the company’s stock.

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.