Danske Bank A S Has $31.54 Million Position in Nucor Corporation $NUE

Key Points

• Danske Bank A/S raised its stake in Nucor by 7.8% to 193,357 shares, a position valued at about $31.54 million at the end of the quarter.
• Nucor beat quarterly expectations, reporting $3.23 EPS vs. $2.82 estimate and $9.50 billion in revenue (up 21.3% YoY), and its board approved a $4.0 billion buyback program to repurchase up to 9.7% of outstanding shares.
• Analysts have raised price targets and ratings (consensus is a Moderate Buy with an average target of $238), and the company also announced a $0.56 quarterly dividend (1.0% yield).

Danske Bank A S raised its position in shares of Nucor Corporation (NYSE:NUE - Free Report) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 193,357 shares of the basic materials company's stock after purchasing an additional 13,945 shares during the quarter. Danske Bank A S owned 0.08% of Nucor worth $31,538,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Stance Capital LLC acquired a new stake in Nucor during the 3rd quarter valued at $25,000. AXS Investments LLC acquired a new stake in Nucor during the 3rd quarter valued at $37,000. Vision Financial Markets LLC raised its stake in Nucor by 281.7% during the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 200 shares during the period. Caitlin John LLC acquired a new stake in Nucor during the 3rd quarter valued at $41,000. Finally, Geneos Wealth Management Inc. raised its stake in Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 153 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Up 0.3%

NYSE NUE opened at $225.93 on Friday. Nucor Corporation has a 1-year low of $106.21 and a 1-year high of $227.96. The company has a current ratio of 2.90, a quick ratio of 1.57 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $51.43 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 0.75 and a beta of 1.87. The firm's fifty day simple moving average is $180.91 and its 200-day simple moving average is $168.78.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share 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 business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. During the same period in the prior year, the business posted $0.77 earnings per share. Nucor's revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nucor Corporation will post 13.17 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor's dividend payout ratio is presently 22.18%.

Nucor declared that its board has approved a stock buyback program on Friday, February 20th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have issued reports on NUE shares. BMO Capital Markets boosted their target price on shares of Nucor from $196.00 to $235.00 and gave the company an "outperform" rating in a research note on Tuesday. Jefferies Financial Group boosted their target price on shares of Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday. Seaport Research Partners reaffirmed a "buy" rating and issued a $245.00 price target on shares of Nucor in a research note on Thursday. JPMorgan Chase & Co. upped their price target on shares of Nucor from $212.00 to $240.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Wells Fargo & Company upped their price target on shares of Nucor from $213.00 to $244.00 and gave the stock an "overweight" rating in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $238.00.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 7,452 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the transaction, the executive vice president directly owned 76,628 shares of the company's stock, valued at $15,020,620.56. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the transaction, the executive vice president directly owned 67,711 shares in the company, valued at $12,763,523.50. The trade was a 10.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,520 shares of company stock worth $4,245,334 over the last three months. Company insiders own 0.62% of the company's stock.

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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