United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Makes New Investment in Nucor Corporation (NYSE:NUE)

Key Points

• United Super Pty Ltd has invested approximately $542,000 in Nucor Corporation by acquiring 4,500 shares during the first quarter of the year.
• Multiple institutional investors, including Wellington Management and Trexquant Investment, have increased their holdings in Nucor, reflecting a growing institutional interest, with 76.48% of the stock owned by hedge funds and other investors.
• Nucor recently announced a quarterly dividend of $0.55 per share, which will be paid on August 11th, representing an annualized yield of 1.6%.

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,500 shares of the basic materials company's stock, valued at approximately $542,000.

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

Analyst Ratings Changes

NUE has been the topic of several research reports. Morgan Stanley lifted their price target on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. The Goldman Sachs Group dropped their price target on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group upgraded Nucor from a "hold" rating to a "buy" rating and lifted their price target for the company from $135.00 to $170.00 in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Nucor currently has an average rating of "Moderate Buy" and an average price target of $157.13.

Insider Transactions at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the completion of the sale, the executive vice president directly owned 94,080 shares in the company, valued at $12,265,209.60. The trade was a 9.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daniel R. Needham sold 7,088 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total value of $906,342.56. Following the sale, the executive vice president owned 99,379 shares of the company's stock, valued at approximately $12,707,592.73. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.71% of the stock is currently owned by corporate insiders.

Nucor Stock Down 3.1%

Shares of NUE stock traded down $4.40 during mid-day trading on Friday, hitting $138.67. The company's stock had a trading volume of 1,721,015 shares, compared to its average volume of 1,879,863. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $170.52. The business has a 50-day moving average price of $130.63 and a 200 day moving average price of $125.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The stock has a market cap of $32.00 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 0.88 and a beta of 1.74.

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

Nucor Announces Dividend

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

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.