NEOS Investment Management LLC Increases Position in Nucor Corporation $NUE

Key Points

• NEOS Investment Management increased its Nucor stake by 12.5% in the second quarter, bringing its holdings to 36,952 shares valued at approximately $8.23 million. Institutional investors and hedge funds collectively own 76.48% of Nucor.
• Analysts remain broadly positive, with 13 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $272.38, above the reported opening price of $260.98.
• Nucor exceeded quarterly expectations, reporting $4.84 in EPS and $10.40 billion in revenue, while revenue grew 23% year over year. The company also declared a quarterly dividend of $0.56 per share, equivalent to a 0.9% annual yield.

NEOS Investment Management LLC raised its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 12.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,952 shares of the basic materials company's stock after acquiring an additional 4,101 shares during the period. NEOS Investment Management LLC's holdings in Nucor were worth $8,231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Nucor by 745.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company's stock valued at $13,614,000 after purchasing an additional 73,588 shares during the period. California Public Employees Retirement System raised its stake in Nucor by 19.3% during the first quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company's stock worth $86,297,000 after purchasing an additional 82,668 shares during the period. Pacific Heights Asset Management LLC raised its stake in Nucor by 12.9% during the fourth quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company's stock worth $28,544,000 after purchasing an additional 20,000 shares during the period. Bank of New York Mellon Corp boosted its holdings in Nucor by 1.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company's stock valued at $306,054,000 after purchasing an additional 29,476 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Nucor in the 4th quarter valued at approximately $23,804,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on NUE. Argus lifted their price target 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. BMO Capital Markets lifted their target price on Nucor from $285.00 to $295.00 and gave the company an "outperform" rating in a research report on Wednesday, July 29th. UBS Group upped their price target on Nucor from $224.00 to $256.00 and gave the company a "neutral" rating in a research note on Tuesday, July 28th. The Goldman Sachs Group increased their price target on Nucor from $260.00 to $284.00 and gave the stock a "buy" rating in a report on Tuesday, June 16th. Finally, Seaport Research Partners raised their price objective on Nucor from $245.00 to $285.00 and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $272.38.

Insider Transactions at Nucor

In other Nucor news, EVP Thomas Batterbee sold 4,000 shares of Nucor stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares of the company's stock, valued at $4,212,340.76. The trade was a 19.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Stephen Laxton sold 3,968 shares of Nucor stock in a transaction dated 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 transaction, the chief operating officer directly owned 77,867 shares of the company's stock, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.62% of the company's stock.

Nucor Stock Down 0.6%

Nucor stock opened at $260.98 on Friday. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The firm has a 50 day moving average price of $248.16 and a 200 day moving average price of $221.33. The company has a market capitalization of $59.21 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 0.97 and a beta of 1.87.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping analysts' consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company had revenue of $10.40 billion for the quarter, compared to analysts' expectations of $10.15 billion. During the same period in the prior year, the firm earned $2.60 earnings per share. The firm's revenue was up 23.0% compared to the same quarter last year. Research analysts expect that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.9%. Nucor's dividend payout ratio is presently 17.86%.

Nucor 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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