Nucor Corporation (NYSE:NUE) Shares Bought by River Wealth Advisors LLC
River Wealth Advisors LLC increased its position in Nucor Corporation (NYSE:NUE) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,307 shares of the basic materials company’s stock after buying an additional 668 shares during the period. River Wealth Advisors LLC’s holdings in Nucor Corporation were worth $1,059,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Nucor Corporation by 17.3% in the first quarter. Vanguard Group Inc. now owns 25,254,158 shares of the basic materials company’s stock worth $1,508,179,000 after buying an additional 3,729,281 shares during the last quarter. BlackRock Inc. increased its stake in Nucor Corporation by 1,900.5% in the first quarter. BlackRock Inc. now owns 21,654,414 shares of the basic materials company’s stock worth $1,293,202,000 after buying an additional 20,571,970 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Nucor Corporation by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 4,118,653 shares of the basic materials company’s stock worth $245,972,000 after buying an additional 14,091 shares during the last quarter. Geode Capital Management LLC increased its stake in Nucor Corporation by 11.7% in the first quarter. Geode Capital Management LLC now owns 3,715,181 shares of the basic materials company’s stock worth $221,600,000 after buying an additional 389,241 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Nucor Corporation by 53.6% in the first quarter. AQR Capital Management LLC now owns 2,513,579 shares of the basic materials company’s stock worth $150,111,000 after buying an additional 877,194 shares during the last quarter. Institutional investors own 76.44% of the company’s stock.
Nucor Corporation (NUE) opened at 57.48 on Friday. Nucor Corporation has a 1-year low of $44.81 and a 1-year high of $68.00. The firm has a market capitalization of $18.42 billion, a price-to-earnings ratio of 16.14 and a beta of 1.51. The company has a 50-day moving average of $58.35 and a 200-day moving average of $59.71.
Nucor Corporation (NYSE:NUE) last issued its earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.06. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. Nucor Corporation’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 earnings per share. On average, equities analysts predict that Nucor Corporation will post $4.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, June 30th will be issued a dividend of $0.3775 per share. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.63%. Nucor Corporation’s payout ratio is 43.77%.
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A number of equities research analysts have issued reports on NUE shares. Jefferies Group LLC reiterated a “buy” rating on shares of Nucor Corporation in a research report on Friday, June 30th. BMO Capital Markets reiterated a “hold” rating on shares of Nucor Corporation in a research report on Friday, April 21st. ValuEngine lowered shares of Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 16th. Berenberg Bank restated a “buy” rating and set a $77.50 price target on shares of Nucor Corporation in a research note on Wednesday, July 19th. Finally, Cowen and Company restated a “market perform” rating and set a $63.00 price target (up previously from $62.00) on shares of Nucor Corporation in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. Nucor Corporation has an average rating of “Buy” and an average target price of $68.76.
In related news, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total transaction of $156,431.42. Following the transaction, the insider now directly owns 62,434 shares in the company, valued at $3,849,680.44. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman John J. Ferriola sold 14,941 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $60.17, for a total transaction of $898,999.97. Following the transaction, the chairman now owns 361,847 shares in the company, valued at $21,772,333.99. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,104 shares of company stock worth $1,213,595. 0.70% of the stock is owned by corporate insiders.
Nucor Corporation Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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