Korea Investment CORP purchased a new stake in Nucor Corporation (NYSE:NUE – Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 252,742 shares of the basic materials company’s stock, valued at approximately $56,298,000. Korea Investment CORP owned 0.11% of Nucor as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of NUE. RKL Wealth Management LLC raised its holdings in shares of Nucor by 0.9% in the first quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company’s stock valued at $899,000 after acquiring an additional 48 shares in the last quarter. Focus Financial Network Inc. lifted its stake in Nucor by 3.6% in the second quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company’s stock worth $316,000 after acquiring an additional 49 shares during the period. Empirical Asset Management LLC grew its holdings in Nucor by 2.6% during the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock worth $347,000 after acquiring an additional 54 shares in the last quarter. Krilogy Financial LLC grew its holdings in Nucor by 4.1% during the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock worth $272,000 after acquiring an additional 61 shares in the last quarter. Finally, Moody National Bank Trust Division increased its position in Nucor by 4.6% during the 2nd quarter. Moody National Bank Trust Division now owns 1,396 shares of the basic materials company’s stock valued at $311,000 after purchasing an additional 62 shares during the period. Institutional investors own 76.48% of the company’s stock.
Nucor Price Performance
Shares of NUE opened at $243.89 on Friday. The company has a 50 day moving average of $246.88 and a two-hundred day moving average of $216.80. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11. The company has a market cap of $55.33 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 0.89 and a beta of 1.89.
Nucor Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were paid a $0.56 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor’s dividend payout ratio (DPR) is 17.86%.
Insiders Place Their Bets
In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of the firm’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 completion of the sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value 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. The trade was a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 18,528 shares of company stock valued at $4,793,035. 0.62% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on NUE. Argus increased their price objective on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. Weiss Ratings restated a “hold (c+)” rating on shares of Nucor in a report on Tuesday, August 11th. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, Barclays upped their price objective on Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $273.31.
View Our Latest Stock Report 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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