Nucor Corporation $NUE Shares Sold by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC lowered its stake in shares of Nucor Corporation (NYSE:NUE) by 64.7% during the first quarter, Holdings Channel reports. The fund owned 3,095 shares of the basic materials company’s stock after selling 5,682 shares during the period. Premier Path Wealth Partners LLC’s holdings in Nucor were worth $523,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empirical Asset Management LLC grew its stake in Nucor by 2.6% during the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock worth $347,000 after purchasing an additional 54 shares in the last quarter. Krilogy Financial LLC raised its position in Nucor by 4.1% in the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock valued at $272,000 after purchasing an additional 61 shares in the last quarter. IHT Wealth Management LLC raised its position in Nucor by 2.0% in the 4th quarter. IHT Wealth Management LLC now owns 3,306 shares of the basic materials company’s stock valued at $539,000 after purchasing an additional 64 shares in the last quarter. Rosenberg Matthew Hamilton raised its position in Nucor by 3.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company’s stock valued at $328,000 after purchasing an additional 69 shares in the last quarter. Finally, HUB Investment Partners LLC boosted its stake in shares of Nucor by 1.9% in the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company’s stock valued at $531,000 after buying an additional 75 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NUE has been the subject of a number of analyst reports. UBS Group downgraded Nucor from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $190.00 to $224.00 in a research report on Tuesday, April 28th. Bank of America boosted their price target on shares of Nucor from $265.00 to $290.00 in a report on Friday, June 12th. Citigroup raised their price objective on shares of Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wells Fargo & Company decreased their price objective on shares of Nucor from $292.00 to $283.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. Finally, The Goldman Sachs Group boosted their target price 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. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $266.92.

Nucor Price Performance

NUE stock opened at $220.61 on Friday. The business has a 50 day moving average price of $237.71 and a 200 day moving average price of $196.72. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The stock has a market cap of $50.24 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 0.50 and a beta of 1.91. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $270.90.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same period in the prior year, the firm posted $0.77 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis. Equities research analysts anticipate that Nucor Corporation will post 17.68 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is 22.18%.

Insider Activity

In other Nucor news, insider Michael D. Keller sold 4,554 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $225.86, for a total transaction of $1,028,566.44. Following the transaction, the insider owned 16,834 shares of the company’s stock, valued at approximately $3,802,127.24. This trade represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $226.08, for a total value of $2,282,503.68. Following the sale, the executive vice president owned 62,871 shares in the company, valued at $14,213,875.68. This trade represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,378 shares of company stock worth $18,963,930 over the last three months. Company insiders own 0.62% of the company’s stock.

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.