Nykredit A S Invests $14.55 Million in Nucor Corporation $NUE

Key Points

• Nykredit A/S acquired 65,300 shares of Nucor in the second quarter, valued at approximately $14.55 million. Institutional investors collectively own 76.48% of the company.
• Nucor reported quarterly earnings of $4.84 per share and revenue of $10.40 billion, exceeding analyst estimates, while revenue increased 23% year over year.
• The company pays a quarterly dividend of $0.56, equivalent to $2.24 annually and a 0.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $272.38.

Nykredit A S acquired a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 65,300 shares of the basic materials company's stock, valued at approximately $14,546,000.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Nucor by 745.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company's stock worth $13,614,000 after buying an additional 73,588 shares during the period. California Public Employees Retirement System lifted its position in shares of Nucor by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company's stock valued at $86,297,000 after acquiring an additional 82,668 shares during the period. Pacific Heights Asset Management LLC boosted 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 acquiring an additional 20,000 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in Nucor in the fourth quarter worth $23,804,000. Finally, Bank of New York Mellon Corp grew its holdings in Nucor by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company's stock worth $306,054,000 after purchasing an additional 29,476 shares during the period. Institutional investors own 76.48% of the company's stock.

Nucor Stock Down 0.6%

Shares of NYSE NUE opened at $260.98 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The company has a 50-day moving average price of $248.16 and a 200-day moving average price of $221.33. The stock has a market capitalization of $59.21 billion, a P/E ratio of 20.81, a P/E/G ratio of 0.97 and a beta of 1.87. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11.

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

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor's dividend payout ratio (DPR) is currently 17.86%.

Insider Buying and Selling

In related news, EVP Thomas Batterbee sold 4,000 shares of Nucor stock in a transaction that occurred 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 transaction, the executive vice president owned 16,138 shares of the company's stock, valued at $4,212,340.76. The trade was a 19.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Stephen Laxton sold 3,968 shares of the company's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares of the company's stock, valued at $20,008,704.32. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. 0.62% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NUE. The Goldman Sachs Group upped their price objective on shares of Nucor from $260.00 to $284.00 and gave the company a "buy" rating in a report on Tuesday, June 16th. Zacks Research lowered Nucor from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. UBS Group upped their price target on Nucor from $224.00 to $256.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 28th. Wells Fargo & Company cut their price target on Nucor from $297.00 to $285.00 and set an "overweight" rating on the stock in a report on Monday, August 24th. Finally, KeyCorp raised Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 price objective for the company in a research note on Wednesday, June 24th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Nucor has a consensus rating of "Moderate Buy" and an average target price of $272.38.

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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