Evolve Private Wealth LLC Acquires New Stake in Nucor Corporation $NUE

Evolve Private Wealth LLC acquired a new stake in Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,205 shares of the basic materials company’s stock, valued at approximately $939,000.

Other large investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 buying an additional 73,588 shares during the period. California Public Employees Retirement System grew its holdings in Nucor by 19.3% during the first quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock worth $86,297,000 after acquiring an additional 82,668 shares during the period. Pacific Heights Asset Management LLC raised its position in Nucor by 12.9% in the fourth quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock worth $28,544,000 after acquiring an additional 20,000 shares in the last quarter. Bank of New York Mellon Corp raised its position in Nucor by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock worth $306,054,000 after acquiring an additional 29,476 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Nucor in the fourth quarter valued at $23,804,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Transactions at Nucor

In other news, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 18,528 shares of company stock valued at $4,793,035 over the last three months. 0.62% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NUE has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. CICC Research began coverage on shares of Nucor in a report on Monday, May 25th. They set an “outperform” rating on the stock. Citigroup reaffirmed a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. BNP Paribas Exane lifted their price target on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, Argus boosted their price target on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus target price of $273.31.

Nucor Stock Up 0.1%

Shares of NYSE NUE opened at $243.89 on Monday. The firm’s 50-day moving average is $246.88 and its two-hundred day moving average is $217.05. The company has a market capitalization of $55.33 billion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same period last year, the company posted $2.60 EPS. The company’s revenue was up 23.0% on a year-over-year basis. Equities analysts anticipate that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Dividend Announcement

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

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.