Andra AP fonden Purchases Shares of 40,349 Nucor Corporation $NUE

Andra AP fonden bought a new position in Nucor Corporation (NYSE:NUE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 40,349 shares of the basic materials company's stock, valued at approximately $6,823,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NUE. RKL Wealth Management LLC grew its position in shares of Nucor by 0.9% during the first quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company's stock worth $899,000 after purchasing an additional 48 shares in the last quarter. Empirical Asset Management LLC boosted its position in shares of Nucor by 2.6% during the fourth 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 during the last quarter. Krilogy Financial LLC boosted its position in shares of Nucor by 4.1% during the fourth 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 during the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 63 shares in the last quarter. Finally, IHT Wealth Management LLC increased its holdings in Nucor by 2.0% in the 4th quarter. IHT Wealth Management LLC now owns 3,306 shares of the basic materials company's stock valued at $539,000 after acquiring an additional 64 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Up 1.3%

NUE stock opened at $236.20 on Thursday. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $270.90. The stock has a market capitalization of $53.79 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 0.54 and a beta of 1.91. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The firm's fifty day simple moving average is $239.33 and its two-hundred day simple moving average is $203.37.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $8.88 billion. During the same period in the previous year, the company earned $0.77 EPS. The firm's revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, analysts anticipate that Nucor Corporation will post 17.53 earnings per share for the current 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 dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Nucor's payout ratio is presently 22.18%.

Wall Street Analyst Weigh In

Several research analysts have commented on NUE shares. Jefferies Financial Group increased their price objective on shares of Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Morgan Stanley lifted their price objective on Nucor from $227.00 to $258.00 and gave the stock an "equal weight" rating in a research note on Monday, June 22nd. KeyCorp raised shares of Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 price target on the stock in a research note on Wednesday, June 24th. BNP Paribas Exane increased their price objective on shares of Nucor from $210.00 to $248.00 and gave the company an "outperform" rating in a research report on Monday, May 4th. Finally, Citigroup reissued a "positive" rating on shares of Nucor in a research note on Wednesday, July 15th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Nucor currently has a consensus rating of "Moderate Buy" and a consensus target price of $266.31.

Insider Activity

In related news, EVP Daniel R. Needham sold 12,888 shares of the business's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.00, for a total value of $2,912,688.00. Following the completion of the transaction, the executive vice president owned 89,724 shares of the company's stock, valued at $20,277,624. The trade was a 12.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Noah C. Hanners sold 6,472 shares of the business's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the completion of the transaction, the executive vice president owned 50,377 shares of the company's stock, valued at $11,410,390.50. This represents a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 82,378 shares of company stock valued at $18,963,930. 0.62% of the stock is currently owned by corporate insiders.

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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