Kingsview Wealth Management LLC Makes New Investment in Nucor Corporation $NUE

Kingsview Wealth Management LLC purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,377 shares of the basic materials company’s stock, valued at approximately $752,000.

A number of other hedge funds have also recently modified their holdings of NUE. Integrated Wealth Concepts LLC raised its holdings in Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 568 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Nucor during the first quarter valued at $259,000. Geneos Wealth Management Inc. grew its holdings in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 153 shares during the period. Sivia Capital Partners LLC bought a new stake in Nucor during the second quarter valued at about $390,000. Finally, Cerity Partners LLC increased its position in Nucor by 51.9% in the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after buying an additional 13,877 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. The Goldman Sachs Group raised their price objective on Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. UBS Group increased their target price on shares of Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Barclays raised their target price on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Finally, BNP Paribas Exane upped their price target on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.38.

Insider Activity

In other news, COO Stephen D. Laxton sold 3,968 shares of the business’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the transaction, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction 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 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 SEC filing for this sale provides additional information. Insiders have sold a total of 18,528 shares of company stock worth $4,793,035 over the last quarter. Insiders own 0.62% of the company’s stock.

Nucor Stock Performance

NYSE NUE opened at $250.84 on Monday. The firm has a market cap of $56.91 billion, a price-to-earnings ratio of 20.00, a price-to-earnings-growth ratio of 0.93 and a beta of 1.89. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $246.64 and a 200-day moving average price of $219.15. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.38. The firm 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 business posted $2.60 earnings per share. As a group, equities research analysts predict that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is 17.86%.

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.