Natixis Advisors LLC Has $11.02 Million Holdings in Nucor Corporation (NYSE:NUE)

Key Points

• Natixis Advisors LLC increased its holdings in Nucor Corporation by 12.4%, now owning over 91,000 shares valued at approximately $11 million.
• Analysts have varying ratings on Nucor, with price targets ranging from $147 to $170, and a general rating of "Moderate Buy."
• Nucor announced a quarterly dividend of $0.55 per share, resulting in an annualized dividend yield of 1.6% for stockholders.

Natixis Advisors LLC raised its position in Nucor Corporation (NYSE:NUE - Free Report) by 12.4% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 91,532 shares of the basic materials company's stock after acquiring an additional 10,065 shares during the period. Natixis Advisors LLC's holdings in Nucor were worth $11,015,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of NUE. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Nucor by 17.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company's stock valued at $3,853,000 after buying an additional 4,763 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of Nucor by 528.6% in the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock valued at $59,235,000 after buying an additional 426,949 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Nucor by 21.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company's stock valued at $12,210,000 after buying an additional 17,861 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Nucor by 20.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company's stock valued at $3,476,000 after buying an additional 4,914 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Nucor by 12.4% in the 1st quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company's stock valued at $36,704,000 after buying an additional 33,700 shares during the last quarter. Institutional investors own 76.48% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on NUE. Morgan Stanley increased their price objective on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and increased their price target for the company from $135.00 to $170.00 in a research note on Thursday. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. JPMorgan Chase & Co. increased their price target on Nucor from $143.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, UBS Group dropped their price target on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $157.13.

Nucor Stock Performance

NUE stock traded down $1.57 during trading hours on Monday, hitting $137.10. 1,190,609 shares of the stock were exchanged, compared to its average volume of 1,879,863. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $31.64 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.88 and a beta of 1.74. The company has a 50-day simple moving average of $130.63 and a two-hundred day simple moving average of $125.76. 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 earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.06. The company had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%. Nucor's quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.68 EPS. On average, analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, June 30th. Nucor's dividend payout ratio is 39.71%.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the sale, the executive vice president directly owned 82,703 shares of the company's stock, valued at approximately $11,857,956.14. This represents a 8.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the sale, the executive vice president directly owned 94,080 shares in the company, valued at approximately $12,265,209.60. This trade represents a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,109 shares of company stock valued at $3,360,094. 0.46% of the stock is owned by corporate insiders.

Nucor 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.