Posted by admin on Jun 30th, 2022
AdvisorNet Financial Inc boosted its stake in shares of Nucor Co. (NYSE:NUE – Get Rating) by 308.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,484 shares of the basic materials company’s stock after acquiring an additional 1,121 shares during the period. AdvisorNet Financial Inc’s holdings in Nucor were worth $221,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of NUE. Norges Bank purchased a new stake in Nucor during the 4th quarter worth about $683,804,000. Pacer Advisors Inc. boosted its position in shares of Nucor by 243.5% during the 1st quarter. Pacer Advisors Inc. now owns 578,910 shares of the basic materials company’s stock worth $86,055,000 after acquiring an additional 410,371 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Nucor by 18.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,831,049 shares of the basic materials company’s stock worth $209,014,000 after acquiring an additional 290,534 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Nucor during the 4th quarter worth about $30,594,000. Finally, Todd Asset Management LLC acquired a new position in shares of Nucor during the 4th quarter worth about $23,240,000. Institutional investors own 77.70% of the company’s stock.
Several research analysts have recently issued reports on NUE shares. UBS Group set a $120.00 price objective on Nucor in a research report on Monday, June 20th. The Goldman Sachs Group lowered their price objective on Nucor from $148.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, May 31st. JPMorgan Chase & Co. lowered their price objective on Nucor from $146.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday, June 14th. Credit Suisse Group upped their target price on Nucor from $142.00 to $175.00 and gave the company an “outperform” rating in a research report on Friday, April 22nd. Finally, StockNews.com started coverage on Nucor in a research report on Thursday, March 31st. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $132.55.
In other news, CEO Leon J. Topalian sold 48,768 shares of the stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $112.61, for a total transaction of $5,491,764.48. Following the completion of the transaction, the chief executive officer now directly owns 135,809 shares of the company’s stock, valued at approximately $15,293,451.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Daniel R. Needham sold 4,000 shares of the stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $160.00, for a total value of $640,000.00. Following the transaction, the executive vice president now directly owns 46,994 shares of the company’s stock, valued at $7,519,040. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.
NUE opened at $106.25 on Thursday. The business has a 50 day moving average price of $129.84 and a two-hundred day moving average price of $127.74. The company has a quick ratio of 1.66, a current ratio of 2.88 and a debt-to-equity ratio of 0.38. The company has a market cap of $28.27 billion, a PE ratio of 3.80 and a beta of 1.23. Nucor Co. has a 52 week low of $87.71 and a 52 week high of $187.90.
Nucor (NYSE:NUE – Get Rating) last posted its quarterly earnings data on Thursday, April 21st. The basic materials company reported $7.67 EPS for the quarter, beating the consensus estimate of $7.35 by $0.32. The firm had revenue of $10.49 billion during the quarter, compared to the consensus estimate of $10.72 billion. Nucor had a return on equity of 55.61% and a net margin of 19.97%. The firm’s revenue was up 49.5% compared to the same quarter last year. During the same period in the prior year, the business earned $3.10 EPS. As a group, sell-side analysts expect that Nucor Co. will post 29.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Shareholders of record on Thursday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.88%. The ex-dividend date is Wednesday, June 29th. Nucor’s dividend payout ratio is presently 7.15%.
Nucor Corporation manufactures and sells steel and steel products. The company's 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 products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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