Elevation Point Wealth Partners LLC Purchases Shares of 2,714 Nucor Corporation $NUE

Elevation Point Wealth Partners LLC bought a new position in shares of Nucor Corporation (NYSE:NUE) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,714 shares of the basic materials company’s stock, valued at approximately $460,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its position in Nucor by 745.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after purchasing an additional 73,588 shares during the period. Nordea Investment Management AB raised its holdings in Nucor by 11.1% during the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock worth $342,642,000 after buying an additional 210,577 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in Nucor during the fourth quarter worth $1,989,000. Oak Harvest Investment Services bought a new position in shares of Nucor in the fourth quarter valued at $6,329,000. Finally, SG Americas Securities LLC lifted its stake in shares of Nucor by 123.5% in the fourth quarter. SG Americas Securities LLC now owns 85,474 shares of the basic materials company’s stock valued at $13,942,000 after buying an additional 47,235 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Activity

In other Nucor news, insider Michael D. Keller sold 4,554 shares of Nucor stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $225.86, for a total value of $1,028,566.44. Following the sale, the insider owned 16,834 shares of the company’s stock, valued at approximately $3,802,127.24. The trade was a 21.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the transaction, the executive vice president owned 97,865 shares in the company, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.

Nucor Price Performance

Shares of NYSE NUE opened at $226.84 on Thursday. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $270.90. The stock’s 50 day moving average price is $238.56 and its 200-day moving average price is $198.53. The company has a market capitalization of $51.66 billion, a PE ratio of 22.46, a PEG ratio of 0.52 and a beta of 1.91. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. The company had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.Nucor’s revenue was up 21.3% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. On average, equities analysts anticipate that Nucor Corporation will post 17.68 EPS for the current year.

Nucor Dividend Announcement

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 $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio is 22.18%.

Analysts Set New Price Targets

NUE has been the subject of several recent research reports. The Goldman Sachs Group boosted their target price on shares of Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. KeyCorp raised shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price target on the stock in a research report on Wednesday, June 24th. BNP Paribas Exane lifted their price target on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Argus boosted their price objective on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Barclays initiated coverage on Nucor in a research note on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.