Nucor Corporation (NYSE:NUE) Shares Purchased by IFM Investors Pty Ltd

IFM Investors Pty Ltd boosted its position in Nucor Corporation (NYSE:NUE - Free Report) by 7.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (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 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Nucor by 17.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company's stock worth $3,853,000 after acquiring an additional 4,763 shares during the last quarter. Voya Investment Management LLC lifted its position 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 acquiring an additional 426,949 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Nucor by 21.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company's stock valued at $12,210,000 after purchasing an additional 17,861 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Nucor by 20.5% in the first quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company's stock worth $3,476,000 after acquiring an additional 4,914 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Nucor by 48.6% in the first quarter. GAMMA Investing LLC now owns 4,203 shares of the basic materials company's stock worth $506,000 after purchasing an additional 1,375 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Price Performance

Nucor stock traded up $0.33 on Wednesday, reaching $140.06. The company's stock had a trading volume of 900,580 shares, compared to its average volume of 2,238,404. The company has a market cap of $32.32 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 0.88 and a beta of 1.70. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $170.52. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.48 and a current ratio of 2.52. The business's fifty day moving average price is $121.41 and its 200 day moving average price is $122.81.

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

Nucor Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective 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. Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Morgan Stanley increased their target price on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. UBS Group cut their price target on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday, May 29th. Finally, BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $150.00.

Insider Buying and Selling at Nucor

In other news, EVP Kenneth Rex Query sold 10,000 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the sale, the executive vice president directly owned 94,080 shares of the company's stock, valued at $12,265,209.60. The trade was a 9.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Daniel R. Needham sold 7,088 shares of the stock in a transaction dated 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 sale, the executive vice president owned 99,379 shares of the company's stock, valued at approximately $12,707,592.73. The trade was a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,326 shares of company stock valued at $6,325,108 in the last 90 days. Insiders own 0.71% of the company's stock.

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.