Kestra Advisory Services LLC Boosts Holdings in Nucor Corporation $NUE

Kestra Advisory Services LLC lifted its position in shares of Nucor Corporation (NYSE:NUE) by 46.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,209 shares of the basic materials company’s stock after purchasing an additional 9,277 shares during the period. Kestra Advisory Services LLC’s holdings in Nucor were worth $4,939,000 as of its most recent SEC filing.

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

Nucor Trading Up 1.1%

Nucor stock opened at $236.80 on Thursday. The firm’s 50-day moving average is $238.84 and its 200-day moving average is $200.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $270.90. The company has a market cap of $53.93 billion, a P/E ratio of 23.45, a PEG ratio of 0.53 and a beta of 1.91.

Nucor (NYSE:NUE) last posted its quarterly earnings results 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. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The business had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. During the same period in the previous year, the business posted $0.77 EPS. The company’s quarterly revenue was up 21.3% on a year-over-year basis. On average, equities analysts expect that Nucor Corporation will post 17.68 earnings per share for the current year.

Nucor Announces Dividend

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

Insider Activity at Nucor

In other news, EVP Allen C. Behr sold 10,096 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the sale, the executive vice president directly owned 62,871 shares in the company, valued at approximately $14,213,875.68. This represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value 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 trade represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 82,378 shares of company stock valued at $18,963,930. 0.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NUE shares. Morgan Stanley increased their price target on Nucor from $227.00 to $258.00 and gave the company an “equal weight” rating in a report on Monday, June 22nd. Argus lifted their price objective on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. 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 report on Tuesday, April 28th. BNP Paribas Exane increased their target price on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Finally, The Goldman Sachs Group lifted their price target on shares of Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $266.31.

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.