Journey Advisory Group LLC Reduces Position in Nucor Corporation $NUE

Journey Advisory Group LLC lessened its holdings in shares of Nucor Corporation (NYSE:NUE) by 88.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,694 shares of the basic materials company’s stock after selling 28,741 shares during the quarter. Journey Advisory Group LLC’s holdings in Nucor were worth $625,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its stake in Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after buying an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nucor during the first quarter worth $259,000. Geneos Wealth Management Inc. boosted its holdings in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 153 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Nucor in the second quarter valued at $390,000. Finally, Cerity Partners LLC grew its position in shares of Nucor by 51.9% in the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after purchasing an additional 13,877 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings raised Nucor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. Morgan Stanley lifted their target price on Nucor from $227.00 to $258.00 and gave the company an “equal weight” rating in a report on Monday, June 22nd. Zacks Research cut Nucor from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. CICC Research started coverage on shares of Nucor in a report on Monday, May 25th. They issued an “outperform” rating on the stock. Finally, Argus raised their price objective on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $266.31.

Nucor Stock Down 0.5%

NUE opened at $235.73 on Friday. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $270.90. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $239.02 and its 200-day moving average price is $201.40. The company has a market cap of $53.68 billion, a P/E ratio of 23.34, a P/E/G ratio of 0.54 and a beta of 1.91.

Nucor (NYSE:NUE) last issued its earnings results 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 company had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the prior year, the business posted $0.77 EPS. Nucor’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, equities analysts expect that Nucor Corporation will post 17.68 EPS for the current year.

Nucor Announces Dividend

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

Insider Activity

In related news, insider Michael D. Keller sold 4,554 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $225.86, for a total transaction of $1,028,566.44. Following the completion of the sale, the insider directly owned 16,834 shares in the company, valued at $3,802,127.24. This represents a 21.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Allen C. Behr sold 10,096 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the sale, the executive vice president directly owned 62,871 shares of the company’s stock, valued at $14,213,875.68. The trade was a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 82,378 shares of company stock valued at $18,963,930. Corporate insiders own 0.62% of the company’s stock.

About Nucor

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.