Global Retirement Partners LLC Takes $826,000 Position in Nucor Corporation $NUE

Global Retirement Partners LLC acquired a new stake in Nucor Corporation (NYSE:NUE) in the 2nd quarter, Holdings Channel reports. The fund acquired 3,707 shares of the basic materials company’s stock, valued at approximately $826,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Strive Financial Group LLC purchased a new stake in Nucor during the 4th quarter worth approximately $27,000. Stance Capital LLC purchased a new position in shares of Nucor in the third quarter worth $25,000. Bartlett & CO. Wealth Management LLC raised its holdings in shares of Nucor by 49.2% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after buying an additional 63 shares during the last quarter. Mcguire Capital Advisors Inc. acquired a new stake in shares of Nucor during the fourth quarter worth $32,000. Finally, Motiv8 Investments LLC acquired a new stake in shares of Nucor during the fourth quarter worth $32,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on NUE shares. 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 report on Wednesday, June 10th. The Goldman Sachs Group lifted their price target on Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. BMO Capital Markets boosted their price target on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Citigroup reissued a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. Finally, Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.31.

Nucor Stock Performance

NYSE NUE opened at $264.74 on Wednesday. The firm has a market capitalization of $60.06 billion, a P/E ratio of 21.11, a PEG ratio of 0.60 and a beta of 1.89. The stock has a 50-day simple moving average of $247.76 and a two-hundred day simple moving average of $215.68. 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 Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11.

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

Nucor Dividend Announcement

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

Insiders Place Their Bets

In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of the company’s 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 sale, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the firm’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 sale, the executive vice president directly owned 16,138 shares in the company, valued at $4,212,340.76. The trade was a 19.86% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 18,528 shares of company stock worth $4,793,035. Corporate insiders own 0.62% of the company’s stock.

Nucor Company 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.