Focused Wealth Management Inc Acquires Shares of 8,413 Nucor Corporation $NUE

Focused Wealth Management Inc acquired a new position in shares of Nucor Corporation (NYSE:NUE) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,413 shares of the basic materials company’s stock, valued at approximately $1,874,000.

Several other hedge funds also recently made changes to their positions in the business. Integrated Wealth Concepts LLC increased its position in shares of Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 568 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Nucor during the 1st quarter worth approximately $259,000. Geneos Wealth Management Inc. increased its holdings in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 153 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Nucor during the second quarter worth about $390,000. Finally, Cerity Partners LLC raised its position in shares of Nucor by 51.9% in the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after acquiring an additional 13,877 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on Nucor from $283.00 to $297.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Bank of America cut their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Barclays increased their target price on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Seaport Research Partners boosted their price objective on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Finally, Zacks Research lowered shares of Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.31.

Nucor Price Performance

NUE opened at $272.73 on Tuesday. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $280.11. The stock has a market capitalization of $61.88 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 0.60 and a beta of 1.89. The stock’s 50 day moving average price is $247.54 and its 200-day moving average price is $215.03. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51.

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

Nucor Announces Dividend

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

Insider Buying and Selling at Nucor

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the transaction, the executive vice president owned 16,138 shares in the company, valued at $4,212,340.76. The trade was a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen D. Laxton sold 3,968 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. This represents a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is owned by corporate insiders.

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.