Posted by admin on Jun 28th, 2022
Creative Financial Designs Inc. ADV lifted its position in shares of Nucor Co. (NYSE:NUE – Get Rating) by 41.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,247 shares of the basic materials company’s stock after buying an additional 956 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in Nucor were worth $483,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of NUE. Norges Bank bought a new position in shares of Nucor during the 4th quarter worth $683,804,000. Pacer Advisors Inc. boosted its position in Nucor by 243.5% during the first quarter. Pacer Advisors Inc. now owns 578,910 shares of the basic materials company’s stock valued at $86,055,000 after purchasing an additional 410,371 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Nucor by 18.9% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,831,049 shares of the basic materials company’s stock valued at $209,014,000 after purchasing an additional 290,534 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Nucor during the fourth quarter valued at about $30,594,000. Finally, Todd Asset Management LLC bought a new stake in Nucor during the fourth quarter valued at about $23,240,000. 77.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:NUE opened at $110.06 on Tuesday. Nucor Co. has a 52-week low of $87.71 and a 52-week high of $187.90. The stock has a market cap of $29.28 billion, a price-to-earnings ratio of 3.94 and a beta of 1.23. 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 business has a 50-day moving average price of $132.38 and a 200-day moving average price of $128.03.
Nucor (NYSE:NUE – Get Rating) last announced its quarterly earnings results on Thursday, April 21st. The basic materials company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $7.35 by $0.32. The company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.72 billion. Nucor had a return on equity of 55.61% and a net margin of 19.97%. Nucor’s quarterly revenue was up 49.5% on a year-over-year basis. During the same period last year, the business earned $3.10 earnings per share. As a group, equities analysts anticipate that Nucor Co. will post 29.75 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Thursday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.82%. The ex-dividend date is Wednesday, June 29th. Nucor’s dividend payout ratio is currently 7.15%.
In other Nucor news, EVP Daniel R. Needham sold 4,000 shares of the firm’s 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 sale, the executive vice president now directly owns 46,994 shares of the company’s stock, valued at $7,519,040. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Leon J. Topalian sold 48,768 shares of the firm’s stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $112.61, for a total value of $5,491,764.48. Following the completion of the sale, the chief executive officer now directly owns 135,809 shares in the company, valued at $15,293,451.49. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.
A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price objective on Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 14th. BMO Capital Markets decreased their price target on Nucor from $168.00 to $128.00 in a research note on Tuesday, May 17th. StockNews.com assumed coverage on Nucor in a research note on Thursday, March 31st. They issued a “buy” rating for the company. UBS Group set a $120.00 price target on Nucor in a research note on Monday, June 20th. Finally, Argus increased their price target on Nucor from $140.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $132.55.
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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