Janus Henderson Group PLC lessened its holdings in shares of Nucor Corporation (NYSE:NUE – Free Report) by 8.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,235 shares of the basic materials company’s stock after selling 2,468 shares during the quarter. Janus Henderson Group PLC’s holdings in Nucor were worth $4,437,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. increased its holdings in 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 grew its stake in shares of Nucor by 19.3% in the first quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock valued at $86,297,000 after buying an additional 82,668 shares in the last quarter. Oak Harvest Investment Services purchased a new stake in shares of Nucor during the 4th quarter valued at about $6,329,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Nucor by 21.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,371 shares of the basic materials company’s stock worth $7,400,000 after acquiring an additional 8,097 shares in the last quarter. Finally, Pacific Heights Asset Management LLC boosted its holdings in Nucor by 12.9% in 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 acquiring an additional 20,000 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have issued reports on NUE. Morgan Stanley set a $270.00 price objective on shares of Nucor in a research report on Wednesday, July 29th. UBS Group upped their target price on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Citigroup reaffirmed a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $273.31.
Insider Transactions at Nucor
In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the 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 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 position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 21,028 shares of company stock worth $5,355,535. 0.62% of the stock is owned by corporate insiders.
Nucor Trading Down 0.9%
NUE opened at $272.16 on Friday. The stock has a market capitalization of $61.98 billion, a PE ratio of 21.70, a P/E/G ratio of 0.61 and a beta of 1.89. The firm’s fifty day moving average price is $245.21 and its 200 day moving average price is $210.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11.
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 for the quarter, topping the consensus estimate of $4.46 by $0.38. The company had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the business earned $2.60 EPS. As a group, research analysts expect that Nucor Corporation will post 18.02 EPS for the current fiscal year.
Nucor Dividend Announcement
The company 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 $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. 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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