Nucor Corporation (NYSE:NUE) Shares Purchased by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its holdings in Nucor Corporation by 27.1% during the first quarter, acquiring an additional 65,775 shares and now owns 308,906 shares valued at approximately $37.19 million.
• Nucor recently reported an earnings per share (EPS) of $2.60, surpassing analysts' expectations of $2.54, with revenue of $8.46 billion for the quarter.
• The company announced a quarterly dividend of $0.55 per share, resulting in an annualized dividend yield of 1.5%, with a payout ratio of 39.71%.

Russell Investments Group Ltd. increased its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 27.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,906 shares of the basic materials company's stock after purchasing an additional 65,775 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of Nucor worth $37,194,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Nucor during the 4th quarter worth $25,000. Putney Financial Group LLC acquired a new position in Nucor during the 4th quarter worth $29,000. MV Capital Management Inc. grew its stake in Nucor by 73.5% during the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock worth $34,000 after purchasing an additional 119 shares in the last quarter. Fourth Dimension Wealth LLC acquired a new position in Nucor during the 4th quarter worth $41,000. Finally, Park Square Financial Group LLC acquired a new position in Nucor during the 4th quarter worth $48,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 7,088 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $127.87, for a total transaction of $906,342.56. Following the transaction, the executive vice president owned 99,379 shares of the company's stock, valued at $12,707,592.73. This represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kenneth Rex Query sold 10,000 shares of the company's 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 transaction, the executive vice president directly owned 94,080 shares in the company, valued at $12,265,209.60. This represents a 9.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,109 shares of company stock valued at $3,360,094 over the last three months. 0.46% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Jefferies Financial Group raised Nucor from a "hold" rating to a "buy" rating and upped their price objective for the stock from $135.00 to $170.00 in a research report on Thursday, July 31st. UBS Group lowered their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Wells Fargo & Company raised Nucor to a "hold" rating in a research report on Thursday. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $140.00 to $145.00 in a research report on Monday, June 2nd. Finally, Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $155.78.

Nucor Stock Performance

Shares of NYSE NUE traded up $1.14 during trading hours on Friday, reaching $145.49. The stock had a trading volume of 2,177,819 shares, compared to its average volume of 1,710,382. The firm has a market cap of $33.40 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 0.92 and a beta of 1.74. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The firm has a 50-day moving average of $135.77 and a 200-day moving average of $126.92.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.54 by $0.06. The firm had revenue of $8.46 billion during the quarter, compared to analysts' expectations of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%. The business's revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.68 EPS. Equities research analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

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

Nucor Company 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.