WCG Wealth Advisors LLC Invests $2.18 Million in Nucor Corporation $NUE

WCG Wealth Advisors LLC acquired a new position in Nucor Corporation (NYSE:NUE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 13,349 shares of the basic materials company’s stock, valued at approximately $2,177,000.

Several other large investors have also recently modified their holdings of NUE. Norges Bank purchased a new position in Nucor during the 4th quarter valued at about $609,002,000. AQR Capital Management LLC increased its holdings in Nucor by 580.9% during the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after purchasing an additional 557,819 shares during the period. Capital World Investors increased its holdings in Nucor by 20.1% during the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock valued at $412,081,000 after purchasing an additional 509,019 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in Nucor by 169.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock valued at $127,216,000 after purchasing an additional 489,950 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Nucor by 27.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock valued at $290,405,000 after purchasing an additional 383,952 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Nucor stock opened at $254.14 on Friday. The stock’s 50 day simple moving average is $213.65 and its two-hundred day simple moving average is $184.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The stock has a market cap of $57.88 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 0.69 and a beta of 1.88. Nucor Corporation has a fifty-two week low of $115.66 and a fifty-two week high of $264.67.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The business’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. As a group, analysts expect that Nucor Corporation will post 14.84 earnings per share for the current fiscal year.

Nucor announced that its Board of Directors has approved a share repurchase program on Friday, February 20th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Bradley Ford sold 2,240 shares of Nucor stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total transaction of $519,971.20. Following the sale, the executive vice president directly owned 43,649 shares of the company’s stock, valued at approximately $10,132,242.37. The trade was a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Randy J. Spicer sold 2,500 shares of Nucor stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $225.00, for a total value of $562,500.00. Following the sale, the executive vice president directly owned 20,510 shares in the company, valued at approximately $4,614,750. The trade was a 10.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 82,378 shares of company stock worth $18,963,930. Insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Seaport Research Partners restated a “buy” rating and set a $245.00 price target on shares of Nucor in a report on Thursday, April 30th. BMO Capital Markets boosted their price target on Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Barclays assumed coverage on Nucor in a report on Thursday, May 21st. They set an “overweight” rating and a $270.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Nucor from $212.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and a consensus price target of $255.67.

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.