Corient Private Wealth LLC Boosts Stock Position in Nucor Corporation $NUE

Corient Private Wealth LLC boosted its position in Nucor Corporation (NYSE:NUE) by 17.5% in the 4th quarter, HoldingsChannel reports. The firm owned 63,832 shares of the basic materials company’s stock after purchasing an additional 9,512 shares during the period. Corient Private Wealth LLC’s holdings in Nucor were worth $10,417,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stance Capital LLC acquired a new stake in shares of Nucor during the 3rd quarter worth about $25,000. Strive Financial Group LLC acquired a new position in shares of Nucor in the fourth quarter valued at approximately $27,000. Motiv8 Investments LLC acquired a new position in shares of Nucor in the fourth quarter valued at approximately $32,000. Mcguire Capital Advisors Inc. purchased a new position in shares of Nucor during the fourth quarter valued at approximately $32,000. Finally, Reflection Asset Management purchased a new position in shares of Nucor during the fourth quarter valued at approximately $36,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on NUE. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Barclays began coverage on Nucor in a research note on Thursday, May 21st. They set an “overweight” rating and a $270.00 price target on the stock. BMO Capital Markets raised their price objective on Nucor from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Seaport Research Partners lifted their price objective on Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Finally, Jefferies Financial Group upped their target price on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $266.92.

Insider Buying and Selling at Nucor

In other Nucor news, insider Michael D. Keller sold 4,554 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $225.86, for a total value of $1,028,566.44. Following the completion of the sale, the insider owned 16,834 shares of the company’s stock, valued at $3,802,127.24. This trade represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Randy J. Spicer sold 2,500 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $225.00, for a total transaction of $562,500.00. Following the completion of the sale, the executive vice president directly owned 20,510 shares of the company’s stock, valued at $4,614,750. This trade represents a 10.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 82,378 shares of company stock worth $18,963,930. Insiders own 0.62% of the company’s stock.

Nucor Stock Up 0.2%

Shares of Nucor stock opened at $240.13 on Thursday. Nucor Corporation has a twelve month low of $127.75 and a twelve month high of $270.90. The stock has a market cap of $54.69 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 0.59 and a beta of 1.88. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average price of $233.69 and a 200 day moving average price of $193.86.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.82 by $0.41. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. Equities research analysts forecast that Nucor Corporation will post 16.34 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is presently 22.18%.

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.