RWA Wealth Partners LLC Makes New Investment in Nucor Co. (NYSE:NUE)

RWA Wealth Partners LLC bought a new position in Nucor Co. (NYSE:NUE) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,303 shares of the basic materials company’s stock, valued at approximately $227,000.

Other large investors have also bought and sold shares of the company. Keybank National Association OH raised its holdings in shares of Nucor by 3.4% during the third quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock valued at $3,009,000 after purchasing an additional 639 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Nucor during the fourth quarter valued at approximately $3,481,000. AIA Group Ltd raised its holdings in shares of Nucor by 53.2% during the fourth quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after purchasing an additional 4,592 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of Nucor during the fourth quarter valued at approximately $1,230,000. Finally, abrdn plc raised its holdings in shares of Nucor by 41.7% during the fourth quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock valued at $26,932,000 after purchasing an additional 45,521 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NUE shares. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday. UBS Group began coverage on shares of Nucor in a research report on Tuesday, January 16th. They set a “buy” rating and a $210.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a research report on Wednesday. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Finally, BMO Capital Markets cut their target price on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $193.14.

Nucor Stock Performance

NUE opened at $175.36 on Friday. The firm has a market cap of $42.08 billion, a P/E ratio of 10.32 and a beta of 1.61. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00. The company has a 50 day simple moving average of $190.62 and a two-hundred day simple moving average of $174.32. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.35.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The firm had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.45 earnings per share. Equities analysts forecast that Nucor Co. will post 12.82 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.23%. Nucor’s dividend payout ratio is 12.71%.

Insider Buying and Selling

In related news, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the completion of the transaction, the executive vice president now owns 85,326 shares in the company, valued at $15,902,206.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Douglas J. Jellison sold 19,506 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares in the company, valued at $23,351,936.58. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 5,500 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $186.37, for a total transaction of $1,025,035.00. Following the transaction, the executive vice president now owns 85,326 shares of the company’s stock, valued at approximately $15,902,206.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,151 shares of company stock worth $7,308,683. 0.46% of the stock is owned by insiders.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.