Citizens Financial Group Inc. RI Takes Position in Nucor Corporation $NUE

Key Points

• Citizens Financial Group acquired 5,000 Nucor shares worth approximately $1.1 million in the second quarter. Institutional investors collectively own 76.48% of Nucor’s stock.
• Nucor reported strong quarterly results, with EPS of $4.84 exceeding estimates of $4.46 and revenue rising 23% year over year to $10.4 billion.
• Analysts maintain a generally positive outlook, with 12 Buy and four Hold ratings and an average price target of $273.31. Nucor also pays a quarterly dividend of $0.56, representing a 0.8% yield.

Citizens Financial Group Inc. RI acquired a new position in Nucor Corporation (NYSE:NUE - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 5,000 shares of the basic materials company's stock, valued at approximately $1,114,000.

Several other hedge funds also recently bought and sold shares of NUE. Northwestern Mutual Wealth Management Co. increased its stake in shares of Nucor by 745.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company's stock worth $13,614,000 after buying an additional 73,588 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Nucor by 19.3% in the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company's stock worth $86,297,000 after purchasing an additional 82,668 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Nucor by 21.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,371 shares of the basic materials company's stock worth $7,400,000 after purchasing an additional 8,097 shares during the last quarter. Pacific Heights Asset Management LLC grew its stake in Nucor by 12.9% in the fourth quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company's stock worth $28,544,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Nucor by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company's stock valued at $306,054,000 after buying an additional 29,476 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Insider Buying and Selling at Nucor

In other news, COO Stephen D. Laxton sold 3,968 shares of the firm's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer directly 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 97,865 shares of the company's stock, valued at $25,294,187.90. The trade was a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 18,528 shares of company stock valued at $4,793,035 in the last quarter. Corporate insiders own 0.62% of the company's stock.

Nucor Stock Down 2.9%

Nucor stock opened at $264.74 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11. The company has a 50-day simple moving average of $247.76 and a 200-day simple moving average of $215.68. The firm has a market capitalization of $60.06 billion, a P/E ratio of 21.11, a P/E/G ratio of 0.60 and a beta of 1.89.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion during the quarter, compared to analysts' expectations of $10.15 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. Nucor's quarterly revenue was up 23.0% on a year-over-year basis. As a group, equities analysts expect that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Nucor's dividend payout ratio (DPR) is currently 17.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group boosted their price target on Nucor from $260.00 to $284.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. Barclays boosted their target price on shares of Nucor from $272.00 to $295.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Nucor in a research report on Tuesday, August 11th. Wells Fargo & Company increased their price objective on shares of Nucor from $283.00 to $297.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Finally, UBS Group raised their target price on shares of Nucor from $224.00 to $256.00 and gave the stock a "neutral" rating in a report on Tuesday, July 28th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $273.31.

Nucor 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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