Fifth Third Bancorp raised its position in Nucor Corporation (NYSE:NUE – Free Report) by 343.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 46,827 shares of the basic materials company’s stock after buying an additional 36,269 shares during the quarter. Fifth Third Bancorp’s holdings in Nucor were worth $7,919,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of NUE. Strive Financial Group LLC purchased a new stake in shares of Nucor in the fourth quarter valued at about $27,000. Stance Capital LLC acquired a new position in shares of Nucor during the third quarter worth about $25,000. Mcguire Capital Advisors Inc. purchased a new position in Nucor during the fourth quarter worth about $32,000. Motiv8 Investments LLC purchased a new position in Nucor during the fourth quarter worth about $32,000. Finally, Reflection Asset Management acquired a new stake in Nucor in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.
Insider Transactions at Nucor
In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the firm’s 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 sale, the executive vice president directly owned 97,865 shares of the company’s stock, valued at $25,294,187.90. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Randy J. Spicer sold 2,500 shares of Nucor stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $225.00, for a total transaction of $562,500.00. Following the sale, the executive vice president owned 20,510 shares of the company’s stock, valued at approximately $4,614,750. This trade represents a 10.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,378 shares of company stock worth $18,963,930 in the last quarter. Insiders own 0.62% of the company’s stock.
Nucor Stock Performance
Nucor (NYSE:NUE – Get Free Report) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same period last year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. Sell-side analysts expect that Nucor Corporation will post 17.68 EPS for the current fiscal 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 given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Nucor’s payout ratio is currently 22.18%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on NUE shares. Barclays reaffirmed an “overweight” rating and issued a $272.00 price objective on shares of Nucor in a report on Wednesday. Seaport Research Partners raised their price target on Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Argus lifted their price target on Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, May 15th. BMO Capital Markets upped their price objective on Nucor from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Finally, Wells Fargo & Company cut their price objective on Nucor from $292.00 to $283.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and a consensus target price of $266.31.
Check Out Our Latest Stock Analysis on Nucor
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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