Perigon Wealth Management LLC Acquires Shares of 2,258 Nucor Corporation $NUE

Perigon Wealth Management LLC bought a new position in Nucor Corporation (NYSE:NUE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,258 shares of the basic materials company’s stock, valued at approximately $503,000.

A number of other institutional investors have also made changes to their positions in NUE. Integrated Wealth Concepts LLC increased its stake in Nucor by 21.1% during the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Nucor in the 1st quarter worth about $259,000. Geneos Wealth Management Inc. boosted its holdings in shares of 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 buying an additional 153 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Nucor in the 2nd quarter valued at about $390,000. Finally, Cerity Partners LLC grew its position in shares of Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after buying an additional 13,877 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

Shares of NYSE NUE opened at $248.72 on Thursday. The stock has a fifty day moving average price of $247.72 and a two-hundred day moving average price of $216.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The firm has a market cap of $56.43 billion, a P/E ratio of 19.83, a PEG ratio of 0.59 and a beta of 1.89. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. The company 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 company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.60 EPS. Research analysts forecast that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have commented on NUE shares. BMO Capital Markets lifted their target price on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Argus increased their price target on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. UBS Group raised their price target on Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Jefferies Financial Group boosted their price objective on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Morgan Stanley set a $270.00 price objective on Nucor in a research note on Wednesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $273.31.

Insiders Place Their Bets

In other news, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction that occurred on 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 transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at $25,294,187.90. The trade was a 9.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the transaction, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. This represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is owned by corporate insiders.

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.