Van Hulzen Asset Management LLC acquired a new stake in Nucor Corporation (NYSE:NUE – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,006 shares of the basic materials company’s stock, valued at approximately $670,000.
Other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Nucor by 745.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after purchasing an additional 73,588 shares in the last quarter. California Public Employees Retirement System increased its position in shares of Nucor by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock worth $86,297,000 after purchasing an additional 82,668 shares in the last quarter. Pacific Heights Asset Management LLC increased its position in shares of Nucor by 12.9% during the 4th quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock worth $28,544,000 after purchasing an additional 20,000 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Nucor by 1.7% during the 1st quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock valued at $306,054,000 after purchasing an additional 29,476 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. bought a new position in Nucor during the 4th quarter valued at about $23,804,000. 76.48% of the stock is currently owned by institutional investors.
Nucor Stock Up 0.3%
Shares of NYSE:NUE opened at $244.32 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The firm has a market cap of $55.43 billion, a P/E ratio of 19.48, a P/E/G ratio of 0.90 and a beta of 1.89. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The company’s 50-day moving average price is $246.58 and its two-hundred day moving average price is $217.46.
Nucor Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s payout ratio is 17.86%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on NUE. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nucor in a research note on Tuesday, August 11th. Barclays lifted their target price on shares of Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Bank of America reduced their target price on Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Wells Fargo & Company decreased their price target on Nucor from $297.00 to $285.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, BMO Capital Markets raised their price target on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $272.38.
View Our Latest Stock Analysis on Nucor
Insider Buying and Selling
In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the transaction, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,528 shares of company stock worth $4,793,035 in the last quarter. Insiders own 0.62% of the company’s stock.
About Nucor
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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