Clear Harbor Asset Management LLC Makes New $751,000 Investment in Nucor Corporation $NUE

Clear Harbor Asset Management LLC purchased a new position in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,372 shares of the basic materials company’s stock, valued at approximately $751,000.

A number of other large investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC raised its position in Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nucor in the first quarter valued at approximately $259,000. Geneos Wealth Management Inc. boosted its position in Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after buying an additional 153 shares during the period. Sivia Capital Partners LLC bought a new stake in Nucor during the 2nd quarter worth approximately $390,000. Finally, Cerity Partners LLC grew its holdings in Nucor by 51.9% during 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 during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Insider Transactions at Nucor

In related news, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the transaction, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,528 shares of company stock valued at $4,793,035 in the last 90 days. 0.62% of the stock is currently owned by corporate insiders.

Nucor Stock Up 0.1%

Shares of NYSE:NUE opened at $243.89 on Monday. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The business’s 50-day moving average is $246.88 and its 200-day moving average is $217.05. The company has a market capitalization of $55.33 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 0.90 and a beta of 1.89.

Nucor (NYSE:NUE) last released its earnings results 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 analysts’ expectations of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The firm’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.60 earnings per share. Equities research analysts predict that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were given 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 of this dividend was Tuesday, June 30th. Nucor’s dividend payout ratio is 17.86%.

Analyst Ratings Changes

Several research firms have recently issued reports on NUE. Argus raised their price target on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Wells Fargo & Company boosted their price objective on shares of Nucor from $283.00 to $297.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Barclays increased their price objective on Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Seaport Research Partners raised their target price on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, UBS Group lifted their target price on Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and a consensus price target of $273.31.

Nucor 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.