B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,537 shares of the basic materials company's stock, valued at approximately $1,679,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Stance Capital LLC acquired a new position in Nucor during the third quarter worth approximately $25,000. Strive Financial Group LLC acquired a new position in shares of Nucor in the 4th quarter valued at $27,000. Bell Investment Advisors Inc purchased a new stake in shares of Nucor during the 2nd quarter valued at $28,000. Motiv8 Investments LLC purchased a new stake in shares of Nucor during the 4th quarter valued at $32,000. Finally, Bartlett & CO. Wealth Management LLC increased its holdings in shares of Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock worth $32,000 after buying an additional 63 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other 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 completion of the transaction, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The shares were 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 $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,528 shares of company stock valued at $4,793,035 in the last quarter. Insiders own 0.62% of the company's stock.
Nucor Price Performance
Shares of NYSE NUE opened at $243.89 on Monday. The business has a 50-day moving average of $246.88 and a 200-day moving average of $217.05. The company has a market capitalization of $55.33 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 0.90 and a beta of 1.89. 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 1-year low of $131.32 and a 1-year high of $280.11.
Nucor (NYSE:NUE - Get Free Report) last announced its 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. The business had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business's quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.60 earnings per share. On average, equities analysts anticipate that Nucor Corporation will post 17.95 EPS for the current fiscal year.
Nucor Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.56 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.9%. Nucor's dividend payout ratio is presently 17.86%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the company. Citigroup reiterated a "buy" rating on shares of Nucor in a report on Wednesday, July 29th. Morgan Stanley set a $270.00 price target on Nucor in a research note on Wednesday, July 29th. Argus raised their price objective on Nucor from $200.00 to $262.00 and gave the stock a "buy" rating in a report on Friday, May 15th. BMO Capital Markets boosted their target price on Nucor from $285.00 to $295.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Finally, Bank of America dropped their target price on shares of Nucor from $290.00 to $280.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Twelve 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 stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $273.31.
View Our Latest Report on NUE
Nucor Profile
(
Free Report)
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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