Posted by admin on Jun 28th, 2022
IFM Investors Pty Ltd lifted its holdings in Nucor Co. (NYSE:NUE – Get Rating) by 15.3% in the first quarter, HoldingsChannel.com reports. The fund owned 43,770 shares of the basic materials company’s stock after buying an additional 5,820 shares during the quarter. IFM Investors Pty Ltd’s holdings in Nucor were worth $6,506,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. bought a new position in Nucor during the fourth quarter valued at approximately $25,000. Rational Advisors LLC purchased a new position in shares of Nucor in the 4th quarter worth approximately $28,000. Nvwm LLC boosted its holdings in shares of Nucor by 312.7% in the 4th quarter. Nvwm LLC now owns 260 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 197 shares during the period. PrairieView Partners LLC purchased a new position in shares of Nucor in the 4th quarter worth approximately $34,000. Finally, Capital Analysts LLC purchased a new position in shares of Nucor in the 4th quarter worth approximately $34,000. 77.70% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Leon J. Topalian sold 48,768 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 135,809 shares in the company, valued at approximately $15,293,451.49. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Daniel R. Needham sold 4,000 shares of the business’s stock in a transaction 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 owns 46,994 shares in the company, valued at $7,519,040. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.
Shares of NYSE NUE opened at $110.06 on Tuesday. The firm has a market cap of $29.28 billion, a PE 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. Nucor Co. has a twelve month low of $87.71 and a twelve month high of $187.90. The business has a fifty day simple moving average of $132.38 and a two-hundred day simple moving average of $128.03.
Nucor (NYSE:NUE – Get Rating) last released its quarterly earnings results on Thursday, April 21st. The basic materials company reported $7.67 EPS for the quarter, topping the consensus estimate of $7.35 by $0.32. The firm had revenue of $10.49 billion during the quarter, compared to analyst estimates of $10.72 billion. Nucor had a return on equity of 55.61% and a net margin of 19.97%. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.10 EPS. On average, research analysts expect that Nucor Co. will post 29.75 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, June 30th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, June 29th. Nucor’s payout ratio is 7.15%.
NUE has been the subject of a number of research analyst reports. Credit Suisse Group raised their price target on Nucor from $142.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, April 22nd. The Goldman Sachs Group decreased their price target on Nucor from $148.00 to $130.00 and set a “neutral” rating for the company in a research note on Tuesday, May 31st. 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 initiated coverage on Nucor in a research note on Thursday, March 31st. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. decreased their price target on Nucor from $146.00 to $125.00 and set a “neutral” rating for the company in a research note on Tuesday, June 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Nucor presently has an average rating of “Hold” and an average price target 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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