Nucor Corporation $NUE Shares Bought by Andra AP fonden

Key Points

• Andra AP fonden increased its Nucor stake by 39.2% in the second quarter, purchasing 15,833 additional shares for a total holding of 56,182 shares valued at approximately $12.5 million. Institutional investors collectively own 76.48% of Nucor.
• Nucor reported quarterly EPS of $4.84, exceeding the $4.46 analyst consensus, while revenue rose 23% year over year to $10.40 billion. The company also declared a quarterly dividend of $0.56 per share, representing a 0.9% yield.
• Analyst sentiment remains favorable, with 13 Buy ratings and four Hold ratings producing a “Moderate Buy” consensus and an average price target of $274.79, above the reported share price of $245.47.

Andra AP fonden increased its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 39.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,182 shares of the basic materials company's stock after buying an additional 15,833 shares during the period. Andra AP fonden's holdings in Nucor were worth $12,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Nucor in the 2nd quarter valued at about $4,452,563,000. Norges Bank purchased a new stake in Nucor during the fourth quarter worth about $609,002,000. Bank of America Corp DE acquired a new stake in Nucor during the 2nd quarter worth approximately $462,886,000. Dimensional Fund Advisors LP boosted its holdings in Nucor by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company's stock valued at $429,298,000 after purchasing an additional 22,718 shares during the period. Finally, Berkshire Hathaway Inc acquired a new position in shares of Nucor during the second quarter worth about $413,814,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nucor

In other news, COO Stephen D. Laxton sold 3,968 shares of the business's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer directly owned 77,867 shares of the company's stock, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business's stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president owned 16,138 shares in the company, valued at $4,212,340.76. This represents a 19.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is currently owned by corporate insiders.

Nucor Stock Performance

NYSE NUE opened at $245.47 on Wednesday. The company has a market capitalization of $55.69 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 0.88 and a beta of 1.87. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The business's 50-day moving average price is $255.37 and its 200 day moving average price is $228.10.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.46 by $0.38. The firm had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. Nucor's revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.60 earnings per share. On average, research analysts predict that Nucor Corporation will post 18.42 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, September 30th will be given a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor's dividend payout ratio is presently 17.86%.

Analyst Ratings Changes

NUE has been the topic of several recent analyst reports. Citigroup reissued a "buy" rating on shares of Nucor in a report on Wednesday, July 29th. Barclays raised their price objective on shares of Nucor from $272.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. upped their price target on Nucor from $294.00 to $308.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 9th. Seaport Research Partners lifted their price objective on Nucor from $245.00 to $285.00 and gave the company a "buy" rating in a report on Wednesday, June 10th. Finally, KeyCorp raised shares of Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 price target on the stock in a research note on Wednesday, June 24th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $274.79.

Nucor Company Profile

Nucor Corporation is a Charlotte, North Carolina-based steel and steel products company. It manufactures carbon, alloy and stainless steel products, including sheet, plate, bar, structural steel, rail, wire rod, rebar and merchant bar. The company also produces steel joists, deck, beams, piling, wire products, fasteners, grating, metal building systems and other fabricated steel products.

Nucor operates an integrated network of electric arc furnace steel mills, recycling facilities and downstream manufacturing operations.

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