HBK Sorce Advisory LLC Acquires New Shares in Nucor Corporation $NUE

HBK Sorce Advisory LLC bought a new stake in Nucor Corporation (NYSE:NUE) during the second quarter, HoldingsChannel.com reports. The firm bought 14,688 shares of the basic materials company’s stock, valued at approximately $4,035,000.

Several other institutional investors have also recently bought and sold shares of NUE. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Nucor by 745.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after acquiring an additional 73,588 shares during the last quarter. California Public Employees Retirement System boosted its holdings in shares of Nucor by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock valued at $86,297,000 after acquiring an additional 82,668 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Nucor by 21.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,371 shares of the basic materials company’s stock worth $7,400,000 after acquiring an additional 8,097 shares during the last quarter. Pacific Heights Asset Management LLC grew its position in Nucor by 12.9% during the 4th quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock worth $28,544,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Nucor by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock worth $306,054,000 after purchasing an additional 29,476 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. The trade was a 19.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,528 shares of company stock worth $4,793,035 over the last ninety days. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NUE shares. Citigroup reiterated a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price target on Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Barclays upped their price objective on Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Seaport Research Partners raised their price objective on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Finally, The Goldman Sachs Group lifted their target price on shares of Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Twelve investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.31.

Nucor Stock Down 0.3%

Shares of NUE opened at $268.11 on Monday. The company has a market capitalization of $60.83 billion, a PE ratio of 21.38, a PEG ratio of 0.60 and a beta of 1.89. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The stock’s 50-day moving average price is $247.15 and its two-hundred day moving average price is $214.33. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. The firm had revenue of $10.40 billion for 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 revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.60 EPS. On average, analysts anticipate that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were issued a $0.56 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.8%. Nucor’s dividend payout ratio is presently 17.86%.

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.