AdvisorShares Investments LLC Makes New Investment in Nucor Corporation $NUE

AdvisorShares Investments LLC bought a new stake in shares of Nucor Corporation (NYSE:NUE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,600 shares of the basic materials company’s stock, valued at approximately $488,000.

A number of other hedge funds also recently made changes to their positions in NUE. IMA Advisory Services Inc. increased its holdings in Nucor by 51.4% during the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after buying an additional 75 shares during the last quarter. AXS Investments LLC purchased a new position in Nucor in the third quarter valued at about $37,000. Elevation Point Wealth Partners LLC bought a new position in shares of Nucor during the 2nd quarter valued at approximately $39,000. Salomon & Ludwin LLC increased its stake in shares of Nucor by 45.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 320 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 100 shares during the last quarter. Finally, Root Financial Partners LLC purchased a new stake in shares of Nucor during the 3rd quarter worth approximately $44,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Performance

Shares of NUE opened at $192.91 on Monday. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $193.09. The stock’s 50-day simple moving average is $169.44 and its 200 day simple moving average is $152.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. The stock has a market capitalization of $44.15 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 0.70 and a beta of 1.86.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the company earned $1.22 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.55. Nucor’s payout ratio is 29.71%.

Analysts Set New Price Targets

Several equities analysts have weighed in on NUE shares. JPMorgan Chase & Co. increased their price objective on Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. Wells Fargo & Company increased their price target on Nucor from $176.00 to $184.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Wall Street Zen upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price objective on the stock. in a report on Wednesday, January 28th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.36.

Insider Activity

In other news, EVP Thomas J. Batterbee sold 2,000 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total value of $330,560.00. Following the transaction, the executive vice president owned 17,952 shares of the company’s stock, valued at approximately $2,967,106.56. This represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Daniel R. Needham sold 3,881 shares of Nucor stock in a transaction on Friday, January 30th. The shares were sold at an average price of $178.00, for a total value of $690,818.00. Following the sale, the executive vice president directly owned 88,298 shares of the company’s stock, valued at $15,717,044. This represents a 4.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,899 shares of company stock valued at $5,794,577 over the last 90 days. Company insiders own 0.71% of the company’s stock.

Nucor Company 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.