Nucor Corporation $NUE Stock Position Boosted by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Nucor Corporation by 69.5%, now owning approximately 126,801 shares worth about $15 million.
• Nucor recently announced a dividend of $0.55 per share, which corresponds to an annualized yield of 1.5% and a payout ratio of approximately 39.71%.
• The company's latest earnings report showed a 4.7% increase in revenue year-over-year, reporting $2.60 EPS, exceeding expectations by $0.06.

Aberdeen Group plc boosted its stake in Nucor Corporation (NYSE:NUE - Free Report) by 69.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,801 shares of the basic materials company's stock after acquiring an additional 51,984 shares during the period. Aberdeen Group plc owned 0.06% of Nucor worth $15,027,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Nucor in the fourth quarter valued at $25,000. Putney Financial Group LLC acquired a new stake in Nucor in the fourth quarter valued at $29,000. MV Capital Management Inc. raised its holdings in Nucor by 73.5% in the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 119 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new stake in Nucor in the fourth quarter valued at $41,000. Finally, Spirit of America Management Corp NY acquired a new stake in Nucor in the first quarter valued at $48,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on NUE shares. Wall Street Zen cut shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Wells Fargo & Company upgraded shares of Nucor to a "hold" rating in a research note on Thursday, August 14th. UBS Group lowered their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. JPMorgan Chase & Co. boosted 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. Finally, Morgan Stanley boosted 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $155.78.

Nucor Stock Performance

Shares of Nucor stock traded up $4.5160 during trading on Friday, hitting $147.7660. 1,407,529 shares of the stock were exchanged, compared to its average volume of 1,620,562. The stock's fifty day moving average is $138.18 and its 200 day moving average is $127.38. The stock has a market cap of $33.92 billion, a PE ratio of 26.67, a P/E/G ratio of 0.94 and a beta of 1.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly 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. The business had revenue of $8.46 billion during the quarter, compared to analyst estimates of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The company's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.68 earnings per share. As a group, sell-side analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, June 30th were given a dividend of $0.55 per share. The ex-dividend date was Monday, June 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.5%. Nucor's dividend payout ratio is currently 39.71%.

Insider Transactions at Nucor

In related news, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the transaction, the executive vice president owned 82,703 shares in the company, valued at $11,857,956.14. This represents a 8.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Daniel R. Needham sold 7,200 shares of the stock in a transaction dated 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 owned 92,179 shares of the company's stock, valued at $13,458,134. This represents a 7.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,309 shares of company stock worth $5,860,294. Insiders own 0.71% of the company's stock.

About Nucor

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.