Ascentis Independent Advisors Increases Holdings in Nucor Corporation $NUE

Ascentis Independent Advisors boosted its stake in shares of Nucor Corporation (NYSE:NUE) by 599.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,743 shares of the basic materials company’s stock after buying an additional 9,208 shares during the period. Ascentis Independent Advisors’ holdings in Nucor were worth $1,817,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its position 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 worth $393,000 after purchasing an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nucor in the 1st quarter valued at approximately $259,000. Geneos Wealth Management Inc. grew its stake 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 stake in shares of Nucor during the 2nd quarter worth approximately $390,000. Finally, Cerity Partners LLC increased its holdings 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 worth $5,263,000 after buying an additional 13,877 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Up 1.5%

Shares of NYSE NUE opened at $223.99 on Tuesday. 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 business’s 50 day moving average is $238.06 and its two-hundred day moving average is $197.57. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $270.90. The firm has a market cap of $51.01 billion, a price-to-earnings ratio of 22.18, a PEG 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 for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. Research analysts predict that Nucor Corporation will post 17.68 EPS for the current year.

Nucor Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms recently commented on NUE. Wells Fargo & Company decreased their price objective on Nucor from $292.00 to $283.00 and set an “overweight” rating on the stock in a report on Thursday, June 18th. Jefferies Financial Group raised their target price on Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. lifted their target price on Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Wall Street Zen raised Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Finally, Argus increased their price target on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $266.92.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 12,888 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.00, for a total value of $2,912,688.00. Following the completion of the transaction, the executive vice president owned 89,724 shares of the company’s stock, valued at $20,277,624. This trade represents a 12.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president directly owned 97,865 shares in the company, valued at $25,294,187.90. This represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 82,378 shares of company stock valued at $18,963,930. 0.62% of the stock is owned by company insiders.

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.