Vise Technologies Inc. acquired a new stake in Nucor Corporation (NYSE:NUE – Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 11,014 shares of the basic materials company’s stock, valued at approximately $2,453,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Nucor by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock worth $4,633,554,000 after purchasing an additional 144,038 shares in the last quarter. BlackRock Inc. bought a new position in Nucor during the second quarter valued at approximately $4,452,563,000. Morgan Stanley lifted its stake in Nucor by 1.1% in the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock valued at $628,497,000 after acquiring an additional 41,728 shares during the last quarter. Norges Bank bought a new stake in Nucor in the fourth quarter worth approximately $609,002,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Nucor by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after purchasing an additional 22,718 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.
Insider Buying and Selling
In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction on 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 completion of the sale, the executive vice president owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. The trade was a 19.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the transaction, the chief operating officer owned 77,867 shares of the company’s stock, valued at $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,528 shares of company stock worth $4,793,035 in the last 90 days. Corporate insiders own 0.62% of the company’s stock.
Nucor Stock Performance
Nucor (NYSE:NUE – Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter in the prior year, the company posted $2.60 EPS. The business’s revenue was up 23.0% on a year-over-year basis. Sell-side analysts forecast that Nucor Corporation will post 17.95 EPS for the current year.
Nucor Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a dividend of $0.56 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.9%. Nucor’s dividend payout ratio is 17.86%.
Analysts Set New Price Targets
NUE has been the topic of a number of analyst reports. CICC Research started coverage on Nucor in a report on Monday, May 25th. They set an “outperform” rating on the stock. The Goldman Sachs Group upped their target price on Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Citigroup reiterated a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. BNP Paribas Exane lifted their price target on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, Wells Fargo & Company boosted their price objective on shares of Nucor from $283.00 to $297.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $273.31.
Nucor 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.
See Also
- Five stocks we like better than Nucor
- Blueprint for a Boom: SEC Clears the Crypto Runway
- Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss
- Advance Auto Parts Plunged, But Its Turnaround Is Still Working
- Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Corporation (NYSE:NUE – Free Report).
Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.
