36,924 Shares in Nucor Corporation $NUE Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new position in shares of Nucor Corporation (NYSE:NUE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 36,924 shares of the basic materials company’s stock, valued at approximately $8,440,000.

Other large investors have also made changes to their positions in the company. Integrated Wealth Concepts LLC boosted its holdings in Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nucor in the 1st quarter valued at about $259,000. Geneos Wealth Management Inc. grew its holdings in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 153 shares during the period. Sivia Capital Partners LLC purchased a new position in Nucor during the second quarter valued at approximately $390,000. Finally, Cerity Partners LLC lifted its holdings in Nucor by 51.9% in the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after acquiring an additional 13,877 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Performance

NYSE:NUE opened at $250.84 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The stock has a market capitalization of $56.91 billion, a PE ratio of 20.00, a P/E/G ratio of 0.93 and a beta of 1.89. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The company has a fifty day moving average of $246.64 and a two-hundred day moving average of $218.97.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business had revenue of $10.40 billion for the quarter, compared to analyst estimates of $10.15 billion. During the same quarter last year, the business earned $2.60 earnings per share. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, research analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. CICC Research assumed coverage on shares of Nucor in a research note on Monday, May 25th. They set an “outperform” rating on the stock. Seaport Research Partners raised their price target on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. JPMorgan Chase & Co. upped their price objective on shares of Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a research 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 stock an “outperform” rating in a research note on Monday, May 4th. Finally, UBS Group lifted their price target on Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research note on Tuesday, July 28th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average price target of $272.38.

Insiders Place Their Bets

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 97,865 shares in the company, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,528 shares of company stock worth $4,793,035. Corporate insiders own 0.62% of the company’s stock.

Nucor Company 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.