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Retirement Guys Formula LLC Purchases 536 Shares of Nucor Co. (NYSE:NUE)

Financial News Live · Oct 3, 2022 12:04

Retirement Guys Formula LLC raised its position in shares of Nucor Co. (NYSE:NUE – Get Rating) by 15.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,056 shares of the basic materials company's stock after acquiring an additional 536 shares during the quarter. Retirement Guys Formula LLC's holdings in Nucor were worth $424,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of NUE. Rosenberg Matthew Hamilton raised its position in Nucor by 2.8% in the 1st quarter. Rosenberg Matthew Hamilton now owns 2,276 shares of the basic materials company's stock worth $338,000 after purchasing an additional 63 shares during the period. Mayflower Financial Advisors LLC raised its position in Nucor by 3.0% in the 1st quarter. Mayflower Financial Advisors LLC now owns 2,223 shares of the basic materials company's stock worth $330,000 after purchasing an additional 65 shares during the period. Grove Bank & Trust raised its position in Nucor by 1.2% in the 1st quarter. Grove Bank & Trust now owns 5,641 shares of the basic materials company's stock worth $839,000 after purchasing an additional 65 shares during the period. Advisor Partners LLC raised its position in Nucor by 0.7% in the 1st quarter. Advisor Partners LLC now owns 11,380 shares of the basic materials company's stock worth $1,692,000 after purchasing an additional 78 shares during the period. Finally, Woodard & Co. Asset Management Group Inc. ADV raised its position in Nucor by 3.5% in the 1st quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 2,385 shares of the basic materials company's stock worth $355,000 after purchasing an additional 80 shares during the period. Institutional investors own 79.07% of the company's stock.

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Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 3,407 shares of the business's stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $122.17, for a total transaction of $416,233.19. Following the transaction, the executive vice president now owns 64,087 shares in the company, valued at $7,829,508.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Allen C. Behr sold 3,407 shares of the business's stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $122.17, for a total transaction of $416,233.19. Following the sale, the executive vice president now owns 64,087 shares of the company's stock, valued at $7,829,508.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kenneth Rex Query sold 5,000 shares of the business's stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $141.64, for a total transaction of $708,200.00. Following the sale, the executive vice president now directly owns 76,100 shares in the company, valued at approximately $10,778,804. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.

Nucor Trading Up 6.4 %

Shares of NYSE NUE traded up $6.90 during midday trading on Monday, hitting $113.89. 34,921 shares of the company traded hands, compared to its average volume of 2,856,857. Nucor Co. has a 12-month low of $88.50 and a 12-month high of $187.90. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.62. The stock has a 50-day moving average price of $129.64 and a 200 day moving average price of $131.65. The firm has a market cap of $29.81 billion, a P/E ratio of 3.50 and a beta of 1.45.

Nucor (NYSE:NUE – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The basic materials company reported $9.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.91 by $0.76. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The company had revenue of $11.79 billion for the quarter, compared to analysts' expectations of $11.59 billion. During the same quarter in the previous year, the company earned $5.04 earnings per share. Nucor's quarterly revenue was up 34.2% on a year-over-year basis. As a group, analysts expect that Nucor Co. will post 29.84 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Thursday, September 29th. Nucor's dividend payout ratio is currently 6.14%.

Analyst Ratings Changes

NUE has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $146.00 to $125.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 14th. StockNews.com cut shares of Nucor from a "buy" rating to a "hold" rating in a research report on Tuesday, September 13th. Credit Suisse Group decreased their price objective on shares of Nucor from $165.00 to $140.00 and set an "outperform" rating on the stock in a research report on Friday, September 16th. Morgan Stanley decreased their price objective on shares of Nucor from $121.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Monday, July 25th. Finally, UBS Group set a $120.00 price objective on shares of Nucor in a research report on Monday, June 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Nucor currently has a consensus rating of "Hold" and an average target price of $132.78.

Nucor Company Profile

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Nucor Corporation manufactures and sells steel and steel products. The company's Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.