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

WCG Wealth Advisors LLC purchased a new position in Nucor Corporation (NYSE:NUE) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 13,349 shares of the basic materials company’s stock, valued at approximately $2,177,000.

Other hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC lifted its position 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 valued at $393,000 after acquiring an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Nucor in the 1st quarter valued at approximately $259,000. Geneos Wealth Management Inc. lifted its position in Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Nucor in the 2nd quarter valued at approximately $390,000. Finally, Cerity Partners LLC lifted its position in Nucor by 51.9% in the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after acquiring an additional 13,877 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Nucor Stock Performance

NUE stock opened at $254.14 on Friday. The company has a market cap of $57.88 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 0.69 and a beta of 1.88. Nucor Corporation has a 1 year low of $115.66 and a 1 year high of $264.67. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The stock’s fifty day moving average price is $213.65 and its 200-day moving average price is $184.90.

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

Nucor announced that its board has approved a stock repurchase program on Friday, February 20th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Seaport Research Partners reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Nucor in a research report on Thursday, April 30th. JPMorgan Chase & Co. upped their price objective on Nucor from $212.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. UBS Group cut Nucor from a “buy” rating to a “neutral” rating and upped their price objective for the company from $190.00 to $224.00 in a research report on Tuesday, April 28th. CICC Research assumed coverage on Nucor in a research report on Monday, May 25th. They issued an “outperform” rating on the stock. Finally, Argus upped their price objective on Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $255.67.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 12,888 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $226.00, for a total value of $2,912,688.00. Following the transaction, the executive vice president directly owned 89,724 shares in the company, valued at $20,277,624. This trade represents a 12.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP David A. Sumoski sold 33,068 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $225.67, for a total value of $7,462,455.56. Following the completion of the sale, the executive vice president owned 243,339 shares of the company’s stock, valued at $54,914,312.13. This trade represents a 11.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 82,378 shares of company stock worth $18,963,930. Company insiders own 0.62% of the company’s stock.

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.