Nwam LLC Has $962,000 Stock Position in Nucor Corporation $NUE

Nwam LLC grew its position in Nucor Corporation (NYSE:NUE) by 173.1% in the second quarter, Holdings Channel.com reports. The fund owned 4,320 shares of the basic materials company’s stock after buying an additional 2,738 shares during the period. Nwam LLC’s holdings in Nucor were worth $962,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC increased its holdings 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 during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Nucor during the 1st quarter worth about $259,000. Geneos Wealth Management Inc. lifted its holdings in shares of Nucor by 81.8% during the 1st 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 acquired a new stake in shares of Nucor during the 2nd quarter valued at about $390,000. Finally, Cerity Partners LLC boosted its position 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 valued at $5,263,000 after acquiring an additional 13,877 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Up 4.7%

Shares of NUE stock opened at $263.80 on Thursday. The company has a market capitalization of $59.85 billion, a P/E ratio of 21.04, a P/E/G ratio of 0.93 and a beta of 1.87. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $247.46 and a 200 day moving average price of $220.49.

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 the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the prior year, the firm earned $2.60 earnings per share. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. Research analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

Wall Street Analysts Forecast Growth

NUE has been the subject of several recent research reports. KeyCorp raised shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price target for the company in a research report on Wednesday, June 24th. Zacks Research downgraded Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Weiss Ratings upgraded Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 25th. UBS Group increased their target price on Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Finally, Morgan Stanley set a $270.00 target price on Nucor in a research report on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $272.38.

Insiders Place Their Bets

In other news, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the sale, the executive vice president owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company 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.