Integrated Advisors Network LLC Boosts Stock Position in Nucor Corporation $NUE

Integrated Advisors Network LLC boosted its position in Nucor Corporation (NYSE:NUE) by 254.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,488 shares of the basic materials company’s stock after purchasing an additional 12,556 shares during the quarter. Integrated Advisors Network LLC’s holdings in Nucor were worth $2,957,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RKL Wealth Management LLC raised its position in shares of Nucor by 0.9% in the first quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company’s stock valued at $899,000 after buying an additional 48 shares during the last quarter. Empirical Asset Management LLC boosted its position in Nucor by 2.6% during the fourth quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock worth $347,000 after acquiring an additional 54 shares during the last quarter. Krilogy Financial LLC grew its stake in Nucor by 4.1% in the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock worth $272,000 after acquiring an additional 61 shares during the period. IHT Wealth Management LLC grew its stake 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 worth $539,000 after acquiring an additional 64 shares during the period. Finally, Rosenberg Matthew Hamilton raised its holdings 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 acquiring an additional 69 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Nucor from $227.00 to $258.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. BMO Capital Markets upped their target price on Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Barclays initiated coverage on Nucor in a research note on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target on the stock. Finally, Wells Fargo & Company lowered their price target on Nucor from $292.00 to $283.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average price target of $266.92.

Nucor Stock Performance

Shares of NYSE:NUE opened at $227.53 on Wednesday. The business has a 50-day moving average of $238.32 and a two-hundred day moving average of $198.04. The firm has a market capitalization of $51.82 billion, a PE ratio of 22.53, a P/E/G ratio of 0.51 and a beta of 1.91. 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 Corporation has a 12 month low of $131.32 and a 12 month high of $270.90.

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

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Nucor’s payout ratio is currently 22.18%.

Insider Activity at Nucor

In other Nucor news, EVP Allen C. Behr sold 10,096 shares of the firm’s 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 transaction, the executive vice president directly owned 62,871 shares of the company’s stock, valued at $14,213,875.68. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Randy J. Spicer sold 2,500 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the transaction, the executive vice president owned 20,510 shares in the company, valued at approximately $4,614,750. This represents a 10.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,378 shares of company stock valued at $18,963,930 over the last quarter. 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.