Empirical Asset Management LLC Takes $471,000 Position in Nucor Corporation $NUE

Empirical Asset Management LLC purchased a new position in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,116 shares of the basic materials company’s stock, valued at approximately $471,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Stance Capital LLC bought a new position in Nucor in the third quarter valued at approximately $25,000. Strive Financial Group LLC bought a new stake in shares of Nucor during the 4th quarter valued at $27,000. Bell Investment Advisors Inc acquired a new position in shares of Nucor in the 2nd quarter valued at $28,000. Motiv8 Investments LLC acquired a new position in shares of Nucor in the 4th quarter valued at $32,000. Finally, Bartlett & CO. Wealth Management LLC boosted its position in shares of Nucor by 49.2% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 63 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Nucor Stock Performance

NUE stock opened at $264.74 on Wednesday. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The firm has a market cap of $60.06 billion, a PE ratio of 21.11, a P/E/G ratio of 0.60 and a beta of 1.89. The business’s 50-day moving average price is $247.76 and its two-hundred day moving average price is $215.68.

Nucor (NYSE:NUE) last announced its quarterly 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. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, research analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is 17.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NUE shares. Jefferies Financial Group lifted their price objective on Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Barclays raised their target price on Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. BMO Capital Markets increased their price target on shares of Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group lifted their price objective 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 analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $273.31.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value 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. The trade was a 19.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the sale, the executive vice president directly owned 97,865 shares of the company’s stock, valued at $25,294,187.90. This represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 18,528 shares of company stock valued at $4,793,035. 0.62% of the stock is currently owned by corporate insiders.

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.