National Pension Service Buys 4,901 Shares of Nucor Corporation $NUE

National Pension Service raised its stake in shares of Nucor Corporation (NYSE:NUE) by 1.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 338,960 shares of the basic materials company’s stock after purchasing an additional 4,901 shares during the period. National Pension Service owned 0.15% of Nucor worth $45,905,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Berkshire Hathaway Inc purchased a new stake in Nucor during the 2nd quarter valued at approximately $856,792,000. Norges Bank purchased a new position in Nucor during the second quarter valued at $479,858,000. Greenwich Wealth Management LLC bought a new stake in Nucor in the 2nd quarter valued at $123,145,000. Massachusetts Financial Services Co. MA purchased a new position in Nucor during the 2nd quarter valued at approximately $105,435,000. Finally, AQR Capital Management LLC grew its holdings in Nucor by 580.9% during the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after buying an additional 557,819 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the subject of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating on shares of Nucor in a report on Wednesday, October 29th. Seaport Research Partners raised their target price on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group raised their price target on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. Finally, BNP Paribas Exane increased their target price on Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.36.

Nucor Trading Up 1.9%

Shares of NYSE NUE opened at $181.03 on Tuesday. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $183.32. The firm has a market cap of $41.43 billion, a PE ratio of 24.01, a price-to-earnings-growth ratio of 0.97 and a beta of 1.86. The business has a fifty day simple moving average of $166.99 and a two-hundred day simple moving average of $151.07. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.22 EPS. Analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.56 per share. This is an increase from Nucor’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, December 31st. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

Insider Buying and Selling at Nucor

In other news, EVP Allen C. Behr sold 5,950 shares of Nucor stock in a transaction on Friday, December 19th. The stock was sold at an average price of $157.89, for a total value of $939,445.50. Following the transaction, the executive vice president directly owned 67,711 shares in the company, valued at approximately $10,690,889.79. This trade represents a 8.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP John J. Hollatz sold 7,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $149.88, for a total value of $1,049,160.00. Following the sale, the executive vice president owned 96,550 shares of the company’s stock, valued at $14,470,914. This trade represents a 6.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 14,950 shares of company stock valued at $2,319,166. 0.71% of the stock is currently owned by corporate insiders.

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.