Nucor Corporation $NUE Shares Bought by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB grew its stake in shares of Nucor Corporation (NYSE:NUE) by 9.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,432 shares of the basic materials company’s stock after acquiring an additional 204 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Nucor were worth $315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NUE. Vanguard Group Inc. grew its holdings in shares of Nucor by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock worth $3,484,965,000 after purchasing an additional 745,671 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Nucor by 18.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock worth $277,920,000 after purchasing an additional 355,364 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Nucor by 5.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,772,831 shares of the basic materials company’s stock worth $213,342,000 after purchasing an additional 92,363 shares during the period. Diamond Hill Capital Management Inc. purchased a new stake in shares of Nucor during the 1st quarter worth about $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Nucor by 16.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,610,933 shares of the basic materials company’s stock worth $193,863,000 after purchasing an additional 226,343 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 $134.52 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. The stock has a market capitalization of $30.88 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 0.95 and a beta of 1.76. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The business’s fifty day moving average price is $143.13 and its 200 day moving average price is $128.60.

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

Nucor Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Jefferies Financial Group upgraded Nucor from a “hold” rating to a “buy” rating and boosted their target price for the stock from $135.00 to $170.00 in a report on Thursday, July 31st. BMO Capital Markets upgraded Nucor from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $140.00 to $145.00 in a report on Monday, June 2nd. UBS Group decreased their price target on Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 29th. Morgan Stanley upped their price target on Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. upped their price target on Nucor from $143.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.20.

Insider Buying and Selling

In other Nucor news, insider Michael D. Keller sold 6,088 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $148.41, for a total value of $903,520.08. Following the sale, the insider directly owned 22,464 shares in the company, valued at approximately $3,333,882.24. This trade represents a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kenneth Rex Query sold 10,000 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the sale, the executive vice president owned 84,080 shares in the company, valued at $12,183,192. The trade was a 10.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,397 shares of company stock valued at $6,763,814. 0.46% of the stock is owned by corporate insiders.

About Nucor

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.