Danske Bank A S Has $31.54 Million Stake in Nucor Corporation $NUE

Danske Bank A S boosted its holdings in shares of Nucor Corporation (NYSE:NUE) by 7.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 193,357 shares of the basic materials company’s stock after buying an additional 13,945 shares during the period. Danske Bank A S’s holdings in Nucor were worth $31,538,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Fox Run Management L.L.C. bought a new stake in Nucor in the third quarter valued at approximately $1,528,000. Penserra Capital Management LLC raised its stake in Nucor by 15,814.3% in the third quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock valued at $452,000 after buying an additional 3,321 shares during the period. Allstate Corp bought a new stake in Nucor in the third quarter valued at approximately $1,085,000. Peterson Wealth Services raised its stake in Nucor by 587,032.0% in the third quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock valued at $19,879,000 after buying an additional 146,758 shares during the period. Finally, Nordea Investment Management AB raised its stake in Nucor by 11.1% in the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock valued at $342,642,000 after buying an additional 210,577 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on NUE. Bank of America upped their price objective on Nucor from $190.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday. BMO Capital Markets upped their price objective on Nucor from $196.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday. BNP Paribas Exane upped their price objective on Nucor from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday, April 20th. Morgan Stanley upped their price objective on Nucor from $180.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, Seaport Research Partners restated a “buy” rating and issued a $245.00 price objective on shares of Nucor in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $238.00.

Insider Buying and Selling

In related news, EVP Kenneth Rex Query sold 7,452 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the sale, the executive vice president owned 76,628 shares of the company’s stock, valued at $15,020,620.56. This represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total value of $1,426,568.00. Following the sale, the executive vice president directly owned 67,711 shares in the company, valued at $12,763,523.50. This represents a 10.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,520 shares of company stock worth $4,245,334 in the last three months. 0.62% of the stock is currently owned by company insiders.

Nucor Stock Performance

NUE opened at $225.93 on Friday. The business has a fifty day simple moving average of $180.91 and a 200 day simple moving average of $168.78. The company has a market capitalization of $51.43 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 0.75 and a beta of 1.87. Nucor Corporation has a 1 year low of $106.21 and a 1 year high of $227.96. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.57.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.77 earnings per share. Research analysts expect that Nucor Corporation will post 13.17 EPS for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Nucor’s dividend payout ratio is currently 22.18%.

Nucor announced that its Board of Directors has authorized a share buyback plan on Friday, February 20th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

About Nucor

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.