Nucor Corporation $NUE Shares Purchased by Penserra Capital Management LLC

Penserra Capital Management LLC grew its stake in shares of Nucor Corporation (NYSE:NUE) by 15,814.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,342 shares of the basic materials company’s stock after acquiring an additional 3,321 shares during the period. Penserra Capital Management LLC’s holdings in Nucor were worth $452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Nucor by 0.7% in the second quarter. Vanguard Group Inc. now owns 29,171,068 shares of the basic materials company’s stock worth $3,778,820,000 after purchasing an additional 211,741 shares during the period. State Street Corp lifted its position in shares of Nucor by 3.1% in the 2nd quarter. State Street Corp now owns 12,501,779 shares of the basic materials company’s stock worth $1,626,321,000 after buying an additional 371,911 shares during the last quarter. Berkshire Hathaway Inc acquired a new position in shares of Nucor in the 2nd quarter valued at about $856,792,000. Norges Bank bought a new stake in shares of Nucor during the 2nd quarter valued at about $479,858,000. Finally, Nordea Investment Management AB raised its stake in Nucor by 2.0% during the third quarter. Nordea Investment Management AB now owns 1,892,423 shares of the basic materials company’s stock worth $255,155,000 after acquiring an additional 36,323 shares during the period. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 3.4%

Shares of NUE stock opened at $192.91 on Monday. The firm has a market capitalization of $44.15 billion, a PE ratio of 25.58, a price-to-earnings-growth ratio of 0.70 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $193.09. The stock has a fifty day moving average of $169.44 and a two-hundred day moving average of $152.37.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.18). The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 EPS. As a group, research analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 1.2%. Nucor’s dividend payout ratio is presently 29.71%.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 3,881 shares of Nucor stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $178.00, for a total transaction of $690,818.00. Following the transaction, the executive vice president directly owned 88,298 shares of the company’s stock, valued at $15,717,044. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John J. Hollatz sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $149.88, for a total transaction of $1,049,160.00. Following the completion of the sale, the executive vice president owned 96,550 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 33,899 shares of company stock valued at $5,794,577. 0.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NUE shares. Jefferies Financial Group lifted their target price on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, January 12th. The Goldman Sachs Group increased their price target on Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. UBS Group lowered Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price objective for the company. in a research report on Wednesday, January 28th. Wall Street Zen raised Nucor from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, BNP Paribas Exane raised their target price on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $179.36.

Nucor 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.