IFM Investors Pty Ltd Has $5.34 Million Stock Holdings in Nucor Corporation $NUE

Key Points

• IFM Investors Pty Ltd has reduced its holdings in Nucor Corporation by 4.1%, now owning approximately $5.34 million worth of shares.
• Multiple large investors such as Diamond Hill Capital Management and Vanguard Group have made significant changes to their positions in Nucor, reflecting strong institutional interest with 76.48% of stock held by institutional investors.
• Analysts are optimistic about Nucor's stock, with a consensus rating of "Moderate Buy" and an average target price of $155.78, following increased price targets from various investment firms.

IFM Investors Pty Ltd trimmed its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,402 shares of the basic materials company's stock after selling 1,894 shares during the period. IFM Investors Pty Ltd's holdings in Nucor were worth $5,343,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NUE. Diamond Hill Capital Management Inc. acquired a new position in shares of Nucor during the 1st quarter worth about $194,804,000. Nuveen LLC acquired a new stake in Nucor in the 1st quarter valued at about $141,216,000. Vanguard Group Inc. lifted its stake in Nucor by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company's stock valued at $3,484,965,000 after purchasing an additional 745,671 shares during the last quarter. GAMMA Investing LLC lifted its stake in Nucor by 17,785.0% in the 1st quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock valued at $60,867,000 after purchasing an additional 502,961 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Nucor by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company's stock valued at $277,920,000 after purchasing an additional 355,364 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NUE shares. Morgan Stanley raised their target price on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. raised their target price on shares of Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Wells Fargo & Company upgraded shares of Nucor to a "hold" rating in a research note on Thursday, August 14th. Jefferies Financial Group upgraded shares of Nucor from a "hold" rating to a "buy" rating and raised their target price for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Finally, BMO Capital Markets upgraded shares of Nucor from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $155.78.

Nucor Stock Up 1.4%

Shares of NUE opened at $143.82 on Friday. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The firm's 50 day moving average is $143.05 and its 200-day moving average is $128.42. The stock has a market capitalization of $33.01 billion, a PE ratio of 25.96, a P/E/G ratio of 0.90 and a beta of 1.76. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The company had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.47 billion. During the same period last year, the firm earned $2.68 earnings per share. The business's revenue for the quarter was up 4.7% on a year-over-year basis. Equities research analysts forecast that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.20 annualized dividend and a yield of 1.5%. Nucor's dividend payout ratio is currently 39.71%.

Insider Activity

In related news, insider Michael D. Keller sold 6,088 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $148.41, for a total transaction of $903,520.08. Following the completion of the sale, the insider owned 22,464 shares of the company's stock, valued at $3,333,882.24. This represents a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Daniel R. Needham sold 7,200 shares of Nucor stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the completion of the transaction, the executive vice president directly owned 92,179 shares in the company, valued at $13,458,134. This trade represents a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,397 shares of company stock worth $6,763,814. 0.46% of the stock is owned by company insiders.

Nucor Profile

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.

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