apricus wealth LLC Has $2.98 Million Stock Holdings in Nucor Corporation $NUE

apricus wealth LLC raised its stake in Nucor Corporation (NYSE:NUE) by 31.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 23,020 shares of the basic materials company’s stock after acquiring an additional 5,495 shares during the quarter. Nucor makes up 1.7% of apricus wealth LLC’s portfolio, making the stock its 22nd biggest position. apricus wealth LLC’s holdings in Nucor were worth $2,982,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Matrix Trust Co raised its stake in Nucor by 53.8% during the 2nd quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock worth $31,000 after buying an additional 84 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares in the last quarter. Meeder Asset Management Inc. raised its position in shares of Nucor by 209.6% during the first quarter. Meeder Asset Management Inc. now owns 418 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 283 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Nucor by 49.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 442 shares of the basic materials company’s stock worth $57,000 after purchasing an additional 147 shares in the last quarter. Finally, Proathlete Wealth Management LLC acquired a new stake in Nucor in the 2nd quarter valued at $58,000. Institutional investors own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of several research reports. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and upped their price objective for the stock from $135.00 to $170.00 in a report on Thursday, July 31st. Bank of America upped their target price on shares of Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, September 15th. JPMorgan Chase & Co. lifted their price target on Nucor from $165.00 to $172.00 and gave the company an “overweight” rating in a research note on Monday, October 13th. The Goldman Sachs Group decreased their price objective on Nucor from $182.00 to $173.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and an average price target of $157.60.

Insider Transactions at Nucor

In other news, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $144.90, for a total transaction of $1,449,000.00. Following the completion of the transaction, the executive vice president owned 84,080 shares in the company, valued at approximately $12,183,192. This represents a 10.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael D. Keller sold 6,088 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the sale, the insider owned 22,464 shares in the company, valued at $3,333,882.24. This represents a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,309 shares of company stock worth $4,553,771 over the last quarter. 0.46% of the stock is currently owned by corporate insiders.

Nucor Stock Performance

Shares of NUE stock opened at $136.65 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The firm has a market cap of $31.37 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 0.94 and a beta of 1.75. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The firm’s 50-day simple moving average is $140.90 and its two-hundred day simple moving average is $130.13.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.06. The company had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. Nucor’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.68 EPS. As a group, equities analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. Nucor’s payout ratio is presently 39.71%.

Nucor Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.