Corient Private Wealth LP Acquires New Position in Nucor Corporation $NUE

Corient Private Wealth LP acquired a new position in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 478,154 shares of the basic materials company’s stock, valued at approximately $17,825,000.

A number of other large investors have also recently bought and sold shares of NUE. BlackRock Inc. bought a new position in shares of Nucor during the second quarter valued at approximately $4,452,563,000. Morgan Stanley lifted its holdings in shares of Nucor by 1.1% in the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after purchasing an additional 41,728 shares during the last quarter. Norges Bank acquired a new position in Nucor during the 4th quarter valued at approximately $609,002,000. Dimensional Fund Advisors LP boosted its position in Nucor by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after purchasing an additional 22,718 shares during the period. Finally, Bank of America Corp DE bought a new position in Nucor during the 2nd quarter worth $462,886,000. Institutional investors own 76.48% of the company’s stock.

Insider Activity at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president directly owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 18,528 shares of company stock worth $4,793,035 over the last quarter. 0.62% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. CICC Research began coverage on Nucor in a research note on Monday, May 25th. They issued an “outperform” rating on the stock. Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. BNP Paribas Exane increased their price objective on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Finally, UBS Group boosted their target price on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $272.38.

Nucor Price Performance

Shares of NYSE NUE opened at $250.84 on Friday. The stock has a market cap of $56.91 billion, a P/E ratio of 20.00, a P/E/G ratio of 0.94 and a beta of 1.89. The firm’s 50-day simple moving average is $246.64 and its 200 day simple moving average is $218.97. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last released its 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. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter last year, the company earned $2.60 EPS. Nucor’s quarterly revenue was up 23.0% on a year-over-year basis. Equities analysts expect that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed 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. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

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.