Beacon Financial Advisory LLC Takes Position in Nucor Corporation $NUE

Beacon Financial Advisory LLC bought a new stake in shares of Nucor Corporation (NYSE:NUE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,987 shares of the basic materials company’s stock, valued at approximately $1,182,000.

Several other hedge funds also recently bought and sold shares of NUE. RKL Wealth Management LLC raised its holdings in Nucor by 0.9% during the first quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company’s stock valued at $899,000 after acquiring an additional 48 shares during the period. Empirical Asset Management LLC grew its position in shares of 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 purchasing an additional 54 shares in the last quarter. Krilogy Financial LLC grew its position in shares of Nucor by 4.1% during the fourth quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock worth $272,000 after purchasing an additional 61 shares in the last quarter. IHT Wealth Management LLC raised its stake in Nucor by 2.0% during 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 during the period. Finally, Rosenberg Matthew Hamilton lifted 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 worth $328,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

NYSE NUE opened at $220.61 on Friday. 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 1-year low of $131.32 and a 1-year high of $270.90. The business has a 50 day simple moving average of $237.84 and a two-hundred day simple moving average of $196.89. The stock has a market capitalization of $50.24 billion, a PE ratio of 21.84, a P/E/G ratio of 0.50 and a beta of 1.91.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $0.77 EPS. On average, research analysts predict that Nucor Corporation will post 17.68 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors 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 dividend on an annualized basis and a yield of 1.0%. Nucor’s dividend payout ratio is presently 22.18%.

Insider Activity at Nucor

In other news, EVP Randy J. Spicer sold 2,500 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $225.00, for a total value of $562,500.00. Following the sale, the executive vice president directly owned 20,510 shares in the company, valued at $4,614,750. The trade was a 10.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Bradley Ford sold 2,240 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total transaction of $519,971.20. Following the sale, the executive vice president owned 43,649 shares in the company, valued at $10,132,242.37. This represents a 4.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 82,378 shares of company stock valued at $18,963,930 over the last quarter. 0.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NUE has been the subject of several recent analyst reports. Citigroup upped their price target on Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Jefferies Financial Group lifted their price objective on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and upped their target price for the stock from $190.00 to $224.00 in a research report on Tuesday, April 28th. Finally, BMO Capital Markets raised their target price on shares of Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.92.

Nucor 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.