Swiss National Bank Acquires 42,900 Shares of Nucor Corporation $NUE

Key Points

• Swiss National Bank increased its Nucor stake by 6.8% in the first quarter, buying 42,900 more shares and bringing its holding to 671,700 shares valued at about $113.6 million.
• Nucor reported strong quarterly results, with EPS of $3.23 beating estimates by $0.41 and revenue of $9.50 billion topping expectations; revenue also rose 21.3% year over year.
• The company announced a quarterly dividend of $0.56 per share, while analysts remain generally bullish with a consensus rating of “Moderate Buy” and a price target of $266.31.

Swiss National Bank boosted its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 6.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 671,700 shares of the basic materials company's stock after buying an additional 42,900 shares during the quarter. Swiss National Bank owned 0.30% of Nucor worth $113,584,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stance Capital LLC purchased a new position in shares of Nucor during the 3rd quarter valued at $25,000. Strive Financial Group LLC bought a new position in shares of Nucor during the 4th quarter valued at approximately $27,000. Motiv8 Investments LLC bought a new stake in shares of Nucor in the 4th quarter worth about $32,000. Bartlett & CO. Wealth Management LLC grew its stake in shares of Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company's stock valued at $32,000 after buying an additional 63 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Nucor in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Insider Buying and Selling

In other news, EVP John J. Hollatz sold 10,560 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares of the company's stock, valued at $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Noah C. Hanners sold 6,472 shares of the business's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the sale, the executive vice president directly owned 50,377 shares of the company's stock, valued at $11,410,390.50. This represents a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is currently owned by insiders.

Nucor Price Performance

NUE stock opened at $230.86 on Tuesday. The business's fifty day moving average price is $239.19 and its 200 day moving average price is $202.36. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $270.90. The company has a market capitalization of $52.58 billion, a PE ratio of 22.86, a P/E/G ratio of 0.54 and a beta of 1.91.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The business had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company's quarterly revenue was up 21.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Nucor Corporation will post 17.68 EPS for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor's payout ratio is presently 22.18%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NUE shares. Citigroup restated a "positive" rating on shares of Nucor in a report on Wednesday, July 15th. Zacks Research downgraded Nucor from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Jefferies Financial Group increased their price target on Nucor from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. CICC Research began coverage on shares of Nucor in a report on Monday, May 25th. They set an "outperform" rating on the stock. Finally, KeyCorp upgraded Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 price objective for the company in a research report on Wednesday, June 24th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $266.31.

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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