IFM Investors Pty Ltd Has $5.96 Million Stock Holdings in Nucor Corporation (NYSE:NUE)

IFM Investors Pty Ltd boosted its position in shares of Nucor Corporation (NYSE:NUE - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 49,552 shares of the basic materials company's stock after purchasing an additional 3,256 shares during the period. IFM Investors Pty Ltd's holdings in Nucor were worth $5,963,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Nucor during the 4th quarter valued at $398,077,000. GAMMA Investing LLC boosted its stake in shares of Nucor by 17,785.0% during the 1st quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock valued at $60,867,000 after buying an additional 502,961 shares during the period. First Trust Advisors LP boosted its stake in shares of Nucor by 24.6% during the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after buying an additional 474,274 shares during the period. Voya Investment Management LLC boosted its stake in shares of Nucor by 528.6% during the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock valued at $59,235,000 after buying an additional 426,949 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Nucor by 18.7% during the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after buying an additional 384,205 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Price Performance

NYSE NUE traded up $2.93 on Tuesday, reaching $139.88. The company's stock had a trading volume of 1,974,937 shares, compared to its average volume of 2,243,236. The firm has a market cap of $32.28 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 0.88 and a beta of 1.70. The business has a 50-day moving average price of $120.99 and a 200 day moving average price of $122.69. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52. The company has a current ratio of 2.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.32.

Nucor (NYSE:NUE - Get Free Report) last posted its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a net margin of 4.40% and a return on equity of 6.82%. The business's revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.46 EPS. Sell-side analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.57%. Nucor's dividend payout ratio (DPR) is currently 39.15%.

Wall Street Analyst Weigh In

NUE has been the subject of several analyst reports. BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Morgan Stanley boosted their target price on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. JPMorgan Chase & Co. cut their target price on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group dropped their price objective on shares of Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Monday, April 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.00.

Insider Activity

In related news, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $130.37, for a total value of $1,303,700.00. Following the transaction, the executive vice president directly owned 94,080 shares in the company, valued at $12,265,209.60. This represents a 9.61% 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 Daniel R. Needham sold 7,088 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the transaction, the executive vice president owned 99,379 shares in the company, valued at $12,707,592.73. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,326 shares of company stock valued at $6,325,108 over the last three months. 0.71% of the stock is owned by insiders.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.