Deutsche Bank AG Acquires New Shares in Nucor Corporation $NUE

Deutsche Bank AG bought a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 988,444 shares of the basic materials company's stock, valued at approximately $220,176,000. Deutsche Bank AG owned 0.43% of Nucor at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Stance Capital LLC bought a new position in shares of Nucor in the third quarter worth $25,000. Strive Financial Group LLC purchased a new position in shares of Nucor in the fourth quarter valued at $27,000. Bell Investment Advisors Inc bought a new stake in shares of Nucor during the 2nd quarter valued at $28,000. Motiv8 Investments LLC bought a new stake in shares of Nucor during the 4th quarter valued at $32,000. Finally, Bartlett & CO. Wealth Management LLC lifted its holdings in 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 purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Insider Buying and Selling

In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares of the company's stock, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 18,528 shares of company stock worth $4,793,035. Insiders own 0.62% of the company's stock.

Nucor Price Performance

NYSE:NUE opened at $264.74 on Wednesday. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $280.11. The stock has a fifty day moving average of $247.76 and a 200 day moving average of $215.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The firm has a market capitalization of $60.06 billion, a price-to-earnings 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 announced its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping analysts' consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same period in the prior year, the company earned $2.60 EPS. The company's quarterly revenue was up 23.0% compared to the same quarter last year. On average, research analysts expect that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. Nucor's payout ratio is presently 17.86%.

Analyst Ratings Changes

A number of research firms have weighed in on NUE. Bank of America reduced their target price on Nucor from $290.00 to $280.00 and set a "buy" rating for the company in a report on Thursday, July 9th. 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 report on Wednesday, June 24th. Argus raised their price objective on shares of Nucor from $200.00 to $262.00 and gave the company a "buy" rating in a research report on Friday, May 15th. BMO Capital Markets boosted their price objective on shares of Nucor from $285.00 to $295.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $240.00 to $282.00 and gave the company an "overweight" rating in a research note on Wednesday, June 10th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $273.31.

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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