MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stake in Nucor Co. (NYSE:NUE)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Nucor Co. (NYSE:NUE - Free Report) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,384,590 shares of the basic materials company's stock after buying an additional 96,375 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.59% of Nucor worth $161,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of NUE. Canal Capital Management LLC boosted its position in shares of Nucor by 2.5% during the fourth quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company's stock valued at $359,000 after buying an additional 75 shares during the period. Horrell Capital Management Inc. boosted its position in shares of Nucor by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock valued at $3,111,000 after buying an additional 76 shares during the period. TCI Wealth Advisors Inc. boosted its position in shares of Nucor by 4.4% during the fourth quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company's stock valued at $252,000 after buying an additional 91 shares during the period. Jessup Wealth Management Inc boosted its position in shares of Nucor by 0.9% during the fourth quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company's stock valued at $1,229,000 after buying an additional 93 shares during the period. Finally, Beacon Capital Management LLC increased its stake in Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after purchasing an additional 94 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In other news, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the sale, the chief executive officer now owns 162,993 shares in the company, valued at approximately $19,590,128.67. This represents a 17.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on NUE. StockNews.com lowered Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Jefferies Financial Group boosted their price objective on shares of Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research report on Wednesday, January 29th. UBS Group raised shares of Nucor from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $156.00 to $160.00 in a research report on Monday, March 24th. Argus set a $155.00 price objective on Nucor in a report on Wednesday, March 5th. Finally, Morgan Stanley set a $164.00 price objective on Nucor in a report on Monday, March 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $160.33.

Nucor Stock Performance

Shares of NUE stock opened at $115.30 on Monday. The firm has a market cap of $26.58 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 0.96 and a beta of 1.73. The company's 50 day moving average is $119.05 and its 200 day moving average is $129.33. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Co. has a 52-week low of $97.59 and a 52-week high of $176.59.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). Nucor had a return on equity of 9.85% and a net margin of 6.60%. The company had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.25 billion. During the same quarter last year, the company earned $3.46 earnings per share. The company's revenue for the quarter was down 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Stockholders of record on Monday, March 31st will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Monday, March 31st. Nucor's payout ratio is currently 39.15%.

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.

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