Nucor Corporation $NUE Shares Bought by Kestra Advisory Services LLC

Kestra Advisory Services LLC grew its holdings in shares of Nucor Corporation (NYSE:NUE) by 46.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 29,209 shares of the basic materials company’s stock after purchasing an additional 9,277 shares during the quarter. Kestra Advisory Services LLC’s holdings in Nucor were worth $4,939,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Nucor in the 4th quarter valued at approximately $609,002,000. AQR Capital Management LLC increased its holdings in shares of Nucor by 580.9% during the second quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after purchasing an additional 557,819 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in shares of Nucor by 169.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock valued at $127,216,000 after purchasing an additional 489,950 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Nucor by 27.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock worth $290,405,000 after purchasing an additional 383,952 shares during the period. Finally, M&T Bank Corp lifted its holdings in Nucor by 494.5% in the fourth quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company’s stock worth $70,873,000 after purchasing an additional 361,417 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Nucor

In other news, EVP Bradley Ford sold 2,240 shares of the company’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total transaction of $519,971.20. Following the completion of the sale, the executive vice president directly owned 43,649 shares of the company’s stock, valued at $10,132,242.37. This represents a 4.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Randy J. Spicer sold 2,500 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $225.00, for a total value of $562,500.00. Following the completion of the transaction, the executive vice president owned 20,510 shares of the company’s stock, valued at $4,614,750. This trade represents a 10.86% decrease in their position. 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. 0.62% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on NUE. Wells Fargo & Company lowered their target price on shares of Nucor from $292.00 to $283.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and upped their price target for the stock from $190.00 to $224.00 in a research note on Tuesday, April 28th. JPMorgan Chase & Co. increased their price objective on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. The Goldman Sachs Group raised their price objective on shares of Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Finally, Argus boosted their target price on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $266.31.

Nucor Stock Up 1.1%

NYSE NUE opened at $236.80 on Thursday. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $270.90. The company has a market capitalization of $53.93 billion, a P/E ratio of 23.45, a PEG ratio of 0.53 and a beta of 1.91. The company’s 50 day simple moving average is $238.84 and its 200 day simple moving average is $200.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.

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

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

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.