Nucor Corporation $NUE Shares Acquired by Liberty One Investment Management LLC

Liberty One Investment Management LLC increased its holdings in Nucor Corporation (NYSE:NUE) by 35.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,466 shares of the basic materials company’s stock after acquiring an additional 1,171 shares during the quarter. Liberty One Investment Management LLC’s holdings in Nucor were worth $578,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of NUE. Diamond Hill Capital Management Inc. acquired a new position in shares of Nucor in the 1st quarter valued at $194,804,000. Nuveen LLC acquired a new position in Nucor in the 1st quarter valued at $141,216,000. Vanguard Group Inc. increased its stake in Nucor by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock valued at $3,484,965,000 after buying an additional 745,671 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Nucor by 355.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 539,310 shares of the basic materials company’s stock valued at $72,327,000 after buying an additional 420,970 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Nucor by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock valued at $277,920,000 after buying an additional 355,364 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NUE. JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $165.00 to $172.00 and gave the company an “overweight” rating in a research note on Monday, October 13th. Jefferies Financial Group raised shares of Nucor from a “hold” rating to a “buy” rating and boosted their price objective for the company from $135.00 to $170.00 in a research note on Thursday, July 31st. Bank of America boosted their price objective on shares of Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, September 15th. The Goldman Sachs Group dropped their price objective on shares of Nucor from $182.00 to $173.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Nucor from $146.00 to $140.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 18th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.60.

Insider Activity at Nucor

In other news, insider Michael D. Keller sold 6,088 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total transaction of $903,520.08. Following the transaction, the insider directly owned 22,464 shares of the company’s stock, valued at $3,333,882.24. This represents a 21.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allen C. Behr sold 8,021 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the transaction, the executive vice president directly owned 82,703 shares in the company, valued at approximately $11,857,956.14. This trade represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,309 shares of company stock valued at $4,553,771. Company insiders own 0.71% of the company’s stock.

Nucor Stock Performance

NYSE:NUE opened at $140.66 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.83 and a debt-to-equity ratio of 0.31. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $170.52. The stock has a market cap of $32.29 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 0.97 and a beta of 1.75. The firm’s fifty day simple moving average is $140.89 and its 200-day simple moving average is $130.21.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The business had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.47 billion. During the same period in the prior year, the company posted $2.68 EPS. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. Analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.6%. Nucor’s dividend payout ratio is 39.71%.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.