Wealthcare Advisory Partners LLC Buys Shares of 1,840 Nucor Corporation $NUE

Wealthcare Advisory Partners LLC bought a new stake in shares of Nucor Corporation (NYSE:NUE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,840 shares of the basic materials company’s stock, valued at approximately $238,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NUE. Park Avenue Securities LLC raised its position in Nucor by 5.8% during the 1st quarter. Park Avenue Securities LLC now owns 7,501 shares of the basic materials company’s stock valued at $903,000 after purchasing an additional 413 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Nucor by 25.1% in the 1st quarter. Farther Finance Advisors LLC now owns 2,344 shares of the basic materials company’s stock worth $280,000 after acquiring an additional 470 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Nucor in the 1st quarter worth $717,000. GAMMA Investing LLC raised its position in shares of Nucor by 48.6% in the 1st quarter. GAMMA Investing LLC now owns 4,203 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 1,375 shares in the last quarter. Finally, Integrated Advisors Network LLC raised its position in shares of Nucor by 99.8% in the 1st quarter. Integrated Advisors Network LLC now owns 5,054 shares of the basic materials company’s stock worth $608,000 after acquiring an additional 2,525 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NUE. Bank of America boosted their price target on Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. boosted their price target on Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Jefferies Financial Group raised Nucor from a “hold” rating to a “buy” rating and boosted their price target for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Morgan Stanley boosted their price target on Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. Finally, The Goldman Sachs Group dropped their target price on Nucor from $182.00 to $173.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $156.60.

Nucor Stock Down 3.2%

Nucor stock opened at $133.68 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The business’s 50-day simple moving average is $141.25 and its two-hundred day simple moving average is $129.31. The company has a market cap of $30.68 billion, a PE ratio of 24.13, a PEG ratio of 0.95 and a beta of 1.75. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.06. The business had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.68 EPS. Equities analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor’s payout ratio is 39.71%.

Insider Buying and Selling

In other news, insider Michael D. Keller sold 6,088 shares of the business’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the transaction, the insider owned 22,464 shares of the company’s stock, valued at $3,333,882.24. The trade was a 21.32% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Daniel R. Needham sold 7,200 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $146.00, for a total value of $1,051,200.00. Following the completion of the transaction, the executive vice president directly owned 92,179 shares of the company’s stock, valued at approximately $13,458,134. This trade represents a 7.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,309 shares of company stock worth $4,553,771. Corporate insiders own 0.46% of the company’s stock.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.