Nucor Corporation $NUE Shares Acquired by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. increased its position in Nucor Corporation (NYSE:NUE) by 745.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 83,463 shares of the basic materials company’s stock after acquiring an additional 73,588 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Nucor were worth $13,614,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of NUE. AQR Capital Management LLC increased its holdings in shares of Nucor by 580.9% in the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock worth $84,699,000 after acquiring an additional 557,819 shares during the period. Capital World Investors increased its holdings in shares of Nucor by 20.1% in the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after acquiring an additional 509,019 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Nucor by 169.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock worth $127,216,000 after acquiring an additional 489,950 shares during the period. M&T Bank Corp increased its holdings in shares of Nucor by 494.5% in the 4th quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company’s stock worth $70,873,000 after acquiring an additional 361,417 shares during the period. Finally, Holocene Advisors LP increased its holdings in shares of Nucor by 146.9% in the 3rd quarter. Holocene Advisors LP now owns 548,911 shares of the basic materials company’s stock worth $74,339,000 after acquiring an additional 326,572 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE opened at $225.56 on Thursday. Nucor Corporation has a one year low of $106.21 and a one year high of $235.45. The company has a 50-day moving average of $193.75 and a two-hundred day moving average of $176.66. The stock has a market cap of $51.37 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 0.60 and a beta of 1.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same period last year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities research analysts expect that Nucor Corporation will post 14.58 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Tuesday, March 31st were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, March 31st. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

Nucor announced that its board has approved a stock repurchase program on Friday, February 20th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group cut shares of Nucor from a “buy” rating to a “neutral” rating and raised their target price for the company from $190.00 to $224.00 in a research note on Tuesday, April 28th. BNP Paribas Exane raised their target price on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. BMO Capital Markets raised their target price on shares of Nucor from $196.00 to $235.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Zacks Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Morgan Stanley raised their target price on shares of Nucor from $180.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $245.45.

Insider Buying and Selling at Nucor

In related news, EVP Allen C. Behr sold 10,096 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the completion of the sale, the executive vice president directly owned 62,871 shares in the company, valued at approximately $14,213,875.68. This trade represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Bradley Ford sold 2,240 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total transaction of $519,971.20. Following the sale, the executive vice president owned 43,649 shares of the company’s stock, valued at approximately $10,132,242.37. This represents a 4.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 71,818 shares of company stock valued at $16,234,593 in the last 90 days. 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.