6,960 Shares in Nucor Corporation $NUE Acquired by Equitable Holdings Inc.

Equitable Holdings Inc. bought a new position in shares of Nucor Corporation (NYSE:NUE) during the second quarter, Holdings Channel reports. The fund bought 6,960 shares of the basic materials company’s stock, valued at approximately $1,550,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Nucor in the second quarter worth $4,452,563,000. Morgan Stanley raised its position in Nucor by 1.1% during the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after purchasing an additional 41,728 shares during the last quarter. Norges Bank bought a new position in Nucor during the 4th quarter worth $609,002,000. Dimensional Fund Advisors LP lifted its holdings in Nucor by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock worth $429,298,000 after buying an additional 22,718 shares during the period. Finally, Bank of America Corp DE acquired a new position in Nucor during the 2nd quarter worth about $462,886,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, the executive vice president directly owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares in the company, valued at $4,212,340.76. This represents a 19.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,528 shares of company stock worth $4,793,035 in the last quarter. Company insiders own 0.62% of the company’s stock.

Nucor Stock Down 0.6%

Shares of NYSE:NUE opened at $250.84 on Friday. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The business’s 50-day moving average is $246.64 and its 200-day moving average is $218.97. The company has a market capitalization of $56.91 billion, a price-to-earnings ratio of 20.00, a P/E/G ratio of 0.94 and a beta of 1.89.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter last year, the firm posted $2.60 earnings per share. The firm’s revenue was up 23.0% on a year-over-year basis. Equities research analysts predict that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were paid a $0.56 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor’s payout ratio is currently 17.86%.

Analysts Set New Price Targets

NUE has been the subject of several recent research reports. Bank of America decreased their price target on Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Wells Fargo & Company cut their price objective on Nucor from $297.00 to $285.00 and set an “overweight” rating on the stock in a research note on Monday, August 24th. JPMorgan Chase & Co. upped their target price on Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. BNP Paribas Exane increased their target price on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, UBS Group raised their price target on shares of Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $272.38.

Nucor Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value?added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.