PointState Capital LP 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 SEC. The fund purchased 249,432 shares of the basic materials company’s stock, valued at approximately $55,561,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. BlackRock Inc. bought a new position in Nucor in the second quarter valued at approximately $4,452,563,000. Norges Bank acquired a new stake in Nucor during the 4th quarter worth $609,002,000. Bank of America Corp DE bought a new stake in shares of Nucor during the 2nd quarter valued at $462,886,000. Berkshire Hathaway Inc bought a new stake in shares of Nucor during the 2nd quarter valued at $413,814,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Nucor in the 2nd quarter valued at $330,902,000. 76.48% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the sale, the executive vice president owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. The trade was a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Read Our Latest Stock Analysis on Nucor
Nucor Stock Performance
Shares of NUE stock opened at $252.69 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11. The company’s 50 day moving average price is $246.35 and its two-hundred day moving average price is $218.33. The company has a market capitalization of $57.33 billion, a P/E ratio of 20.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89.
Nucor (NYSE:NUE – Get Free Report) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating the consensus estimate 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 earned $2.60 earnings per share. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, analysts expect that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.
Nucor Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio is 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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