MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 226,343 Shares of Nucor Corporation $NUE

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Nucor Corporation by 16.3% during the first quarter, now holding approximately 1.6 million shares valued at about $193.86 million.
• Multiple institutional investors have also raised their positions in Nucor, with 76.48% of the stock owned by hedge funds and other institutions.
• Nucor reported an earnings per share of $2.60, slightly surpassing analyst expectations, and announced a quarterly dividend of $0.55 to be paid on November 10th.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 16.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,610,933 shares of the basic materials company's stock after buying an additional 226,343 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.70% of Nucor worth $193,863,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AXA S.A. grew its holdings in Nucor by 106.7% during the fourth quarter. AXA S.A. now owns 22,522 shares of the basic materials company's stock valued at $2,629,000 after purchasing an additional 11,628 shares during the period. Aptus Capital Advisors LLC lifted its position in shares of Nucor by 13.9% during the 4th quarter. Aptus Capital Advisors LLC now owns 4,057 shares of the basic materials company's stock valued at $474,000 after buying an additional 495 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Nucor during the 4th quarter valued at about $333,000. Centiva Capital LP grew its stake in shares of Nucor by 306.6% during the 4th quarter. Centiva Capital LP now owns 13,796 shares of the basic materials company's stock valued at $1,610,000 after acquiring an additional 10,403 shares during the period. Finally, Cetera Investment Advisers increased its holdings in Nucor by 12.2% in the 4th quarter. Cetera Investment Advisers now owns 114,610 shares of the basic materials company's stock worth $13,376,000 after acquiring an additional 12,426 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Price Performance

Shares of NUE stock traded down $2.87 during trading hours on Tuesday, hitting $141.15. The stock had a trading volume of 1,689,127 shares, compared to its average volume of 2,374,603. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. The stock has a market capitalization of $32.40 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 0.94 and a beta of 1.76. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52. The stock's 50-day moving average price is $142.74 and its two-hundred day moving average price is $128.18.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share 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 quarter in the previous year, the business posted $2.68 earnings per share. Nucor's quarterly revenue was up 4.7% on a year-over-year basis. Equities analysts forecast that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Investors of record on Tuesday, September 30th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. Nucor's dividend payout ratio (DPR) is presently 39.71%.

Analyst Ratings Changes

NUE has been the subject of a number of recent analyst reports. UBS Group dropped their price target on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Morgan Stanley upped their target price on shares of Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. JPMorgan Chase & Co. boosted their price objective on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Finally, Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and increased their target price for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $155.78.

Insider Buying and Selling

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was 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 legal filing with the SEC, which is available through this link. Also, insider Michael D. Keller sold 6,088 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the sale, the insider directly owned 22,464 shares of the company's stock, valued at $3,333,882.24. The trade was a 21.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,397 shares of company stock worth $6,763,814. Insiders own 0.71% of the company's stock.

Nucor Company 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.