Meeder Advisory Services Inc. Buys New Holdings in Nucor Corporation $NUE

Key Points

• Meeder Advisory Services purchased 7,484 Nucor shares worth approximately $1.67 million in the second quarter. Institutional investors collectively own 76.48% of the steelmaker.
• Analyst sentiment is positive overall, with 12 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $273.31.
• Nucor exceeded quarterly earnings and revenue expectations, reporting $4.84 in EPS and $10.40 billion in revenue, while maintaining a quarterly dividend of $0.56 per share.

Meeder Advisory Services Inc. purchased a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,484 shares of the basic materials company's stock, valued at approximately $1,667,000.

A number of other institutional investors have also recently bought and sold shares of NUE. BlackRock Inc. acquired a new stake in shares of Nucor in the second quarter valued at approximately $4,452,563,000. Norges Bank bought a new position in shares of Nucor during the 4th quarter worth approximately $609,002,000. Bank of New York Mellon Corp acquired a new position in shares of Nucor during the 2nd quarter worth approximately $330,902,000. Deutsche Bank AG bought a new stake in Nucor in the 2nd quarter valued at $220,176,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Nucor in the 2nd quarter valued at $126,848,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on NUE. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Nucor in a report on Tuesday, August 11th. Argus increased 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. CICC Research started coverage on shares of Nucor in a research note on Monday, May 25th. They set an "outperform" rating for the company. BNP Paribas Exane lifted their target price on shares of Nucor from $210.00 to $248.00 and gave the stock an "outperform" rating in a report on Monday, May 4th. Finally, Zacks Research lowered shares of Nucor from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 29th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Nucor presently has an average rating of "Moderate Buy" and an average price target of $273.31.

Nucor Stock Performance

Shares of NYSE NUE opened at $248.72 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The firm has a market cap of $56.43 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 0.59 and a beta of 1.89. The stock's fifty day moving average price is $247.72 and its two-hundred day moving average price is $216.16. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11.

Nucor (NYSE:NUE - Get Free Report) last posted 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. The company had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company's revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.60 earnings per share. On average, equities analysts forecast that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were issued a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor's payout ratio is currently 17.86%.

Insiders Place Their Bets

In other news, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stephen D. Laxton sold 3,968 shares of the business's stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer owned 77,867 shares of the company's stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,528 shares of company stock worth $4,793,035 in the last quarter. Corporate insiders own 0.62% of the company's stock.

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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