USA Financial Formulas Has $555,000 Holdings in Nucor Corporation $NUE

USA Financial Formulas grew its position in Nucor Corporation (NYSE:NUE) by 292.0% in the first quarter, Holdings Channel reports. The fund owned 3,285 shares of the basic materials company’s stock after acquiring an additional 2,447 shares during the quarter. USA Financial Formulas’ holdings in Nucor were worth $555,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Strive Financial Group LLC acquired a new position in Nucor in the 4th quarter worth about $27,000. Stance Capital LLC acquired a new stake in shares of Nucor during the third quarter valued at about $25,000. Bartlett & CO. Wealth Management LLC boosted its stake in shares of Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 63 shares in the last quarter. Mcguire Capital Advisors Inc. bought a new stake in shares of Nucor during the fourth quarter worth about $32,000. Finally, Motiv8 Investments LLC bought a new stake in shares of Nucor during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of Nucor 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 completion of the sale, the chief operating officer directly owned 77,867 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. 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 transaction, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. This represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 21,028 shares of company stock valued at $5,355,535 in the last ninety days. Insiders own 0.62% of the company’s stock.

Nucor Trading Down 1.5%

Shares of NUE stock opened at $268.11 on Friday. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The stock has a 50 day simple moving average of $247.15 and a two-hundred day simple moving average of $214.08. The company has a market cap of $60.83 billion, a P/E ratio of 21.38, a PEG ratio of 0.60 and a beta of 1.89.

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

Nucor Dividend Announcement

The business 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 is currently 17.86%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NUE shares. Zacks Research lowered shares of Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. UBS Group upped their price target on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. KeyCorp raised shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price target for the company in a research note on Wednesday, June 24th. Finally, Barclays lifted their price target on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.31.

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.