FNY Investment Advisers LLC purchased a new position in shares of Nucor Corporation (NYSE:NUE – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,000 shares of the basic materials company’s stock, valued at approximately $445,000.
Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Nucor in the fourth quarter valued at $609,002,000. AQR Capital Management LLC increased its holdings in shares of Nucor by 580.9% in the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after acquiring an additional 557,819 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Nucor by 27.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock valued at $290,405,000 after acquiring an additional 383,952 shares during the last quarter. M&T Bank Corp raised its position in shares of Nucor by 494.5% during the 4th quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company’s stock worth $70,873,000 after acquiring an additional 361,417 shares in the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in Nucor during the fourth quarter worth approximately $51,135,000. 76.48% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have commented on NUE shares. JPMorgan Chase & Co. increased their price target on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. The Goldman Sachs Group increased their target price on shares of Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. KeyCorp upgraded shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price objective for the company in a research note on Wednesday, June 24th. Jefferies Financial Group lifted their target price on Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Morgan Stanley set a $270.00 target price on Nucor in a research report on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.31.
Insider Activity at Nucor
In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the transaction, the executive vice president directly owned 16,138 shares in the company, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,028 shares of company stock worth $5,355,535 in the last ninety days. Corporate insiders own 0.62% of the company’s stock.
Nucor Price Performance
Shares of NUE opened at $272.89 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average is $245.67 and its two-hundred day moving average is $210.80. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11. The firm has a market capitalization of $62.15 billion, a PE ratio of 21.76, a P/E/G ratio of 0.60 and a beta of 1.89.
Nucor (NYSE:NUE – Get Free Report) last posted its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating the consensus estimate of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same period last year, the firm earned $2.60 EPS. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. Research analysts anticipate that Nucor Corporation will post 18.02 earnings per share for the current year.
Nucor Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. Nucor’s payout ratio is currently 17.86%.
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.
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