OneAscent Financial Services LLC Acquires Shares of 3,857 Nucor Corporation $NUE

OneAscent Financial Services LLC bought a new position in Nucor Corporation (NYSE:NUE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,857 shares of the basic materials company’s stock, valued at approximately $859,000.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Nucor in the second quarter valued at approximately $4,452,563,000. Norges Bank purchased a new position in Nucor during the 4th quarter worth $609,002,000. Bank of New York Mellon Corp purchased a new position in Nucor during the 2nd quarter worth $330,902,000. Deutsche Bank AG bought a new stake in Nucor during the 2nd quarter valued at $220,176,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Nucor during the 2nd quarter valued at $126,848,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nucor

In other news, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 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 Down 3.2%

Nucor stock opened at $240.79 on Friday. 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 firm has a market cap of $54.63 billion, a P/E ratio of 19.20, a P/E/G ratio of 0.55 and a beta of 1.89. The business has a fifty day moving average of $247.32 and a two-hundred day moving average of $216.61. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11.

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, beating analysts’ consensus estimates of $4.46 by $0.38. The business 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 business’s revenue was up 23.0% compared to the same quarter last year. During the same period last year, the business posted $2.60 EPS. On average, analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s payout ratio is 17.86%.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of recent research reports. Wells Fargo & Company increased their price target on Nucor from $283.00 to $297.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Jefferies Financial Group lifted their price objective on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. increased their target price on shares of Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Finally, Zacks Research downgraded shares of Nucor from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Twelve analysts have rated the stock with a Buy rating and four have given 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 target price of $273.31.

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.