United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New $542,000 Investment in Nucor Corporation (NYSE:NUE)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of Nucor Corporation (NYSE:NUE) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,500 shares of the basic materials company’s stock, valued at approximately $542,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NUE. Wellington Management Group LLP lifted its stake in Nucor by 0.6% in the 4th quarter. Wellington Management Group LLP now owns 251,364 shares of the basic materials company’s stock worth $29,337,000 after purchasing an additional 1,380 shares in the last quarter. Trexquant Investment LP raised its position in shares of Nucor by 125.9% in the fourth quarter. Trexquant Investment LP now owns 67,952 shares of the basic materials company’s stock worth $7,931,000 after buying an additional 37,867 shares in the last quarter. Groupama Asset Managment bought a new stake in Nucor during the fourth quarter valued at $424,000. World Investment Advisors grew its position in Nucor by 4.1% during the fourth quarter. World Investment Advisors now owns 14,014 shares of the basic materials company’s stock worth $1,636,000 after buying an additional 548 shares in the last quarter. Finally, Unison Advisors LLC increased its stake in Nucor by 0.3% in the 4th quarter. Unison Advisors LLC now owns 42,252 shares of the basic materials company’s stock worth $4,954,000 after acquiring an additional 147 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NUE has been the subject of several research analyst reports. The Goldman Sachs Group dropped their target price on shares of Nucor from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Jefferies Financial Group upgraded shares of Nucor from a “hold” rating to a “buy” rating and upped their target price for the stock from $135.00 to $170.00 in a research report on Thursday. UBS Group lowered their price target on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Wall Street Zen lowered Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Finally, BMO Capital Markets upgraded Nucor from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Daniel R. Needham sold 7,088 shares of the business’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total value of $906,342.56. Following the transaction, the executive vice president owned 99,379 shares in the company, valued at approximately $12,707,592.73. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the sale, the executive vice president owned 94,080 shares of the company’s stock, valued at approximately $12,265,209.60. This represents a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Nucor Stock Down 3.1%

NUE opened at $138.67 on Friday. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The company has a current ratio of 2.83, a quick ratio of 1.48 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $130.63 and its 200-day moving average price is $125.73. The company has a market cap of $32.00 billion, a P/E ratio of 25.03, a P/E/G ratio of 0.91 and a beta of 1.70.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.47 billion. During the same period in the previous year, the firm earned $2.68 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, June 30th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.6%. Nucor’s dividend payout ratio is presently 39.71%.

Nucor Profile

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.