Andra AP fonden Purchases Shares of 40,349 Nucor Corporation $NUE

Andra AP fonden bought a new position in Nucor Corporation (NYSE:NUE) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 40,349 shares of the basic materials company’s stock, valued at approximately $6,823,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NUE. RKL Wealth Management LLC grew its position in shares of Nucor by 0.9% during the first quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company’s stock worth $899,000 after purchasing an additional 48 shares in the last quarter. Empirical Asset Management LLC boosted its position in shares of Nucor by 2.6% during the fourth quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock worth $347,000 after acquiring an additional 54 shares during the last quarter. Krilogy Financial LLC boosted its position in shares of Nucor by 4.1% during the fourth quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock worth $272,000 after acquiring an additional 61 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its stake in Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 63 shares in the last quarter. Finally, IHT Wealth Management LLC increased its holdings in Nucor by 2.0% in the 4th quarter. IHT Wealth Management LLC now owns 3,306 shares of the basic materials company’s stock valued at $539,000 after acquiring an additional 64 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Up 1.3%

NUE stock opened at $236.20 on Thursday. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $270.90. The stock has a market capitalization of $53.79 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 0.54 and a beta of 1.91. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The firm’s fifty day simple moving average is $239.33 and its two-hundred day simple moving average is $203.37.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the previous year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, analysts anticipate that Nucor Corporation will post 17.53 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Nucor’s payout ratio is presently 22.18%.

Wall Street Analyst Weigh In

Several research analysts have commented on NUE shares. Jefferies Financial Group increased their price objective on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Morgan Stanley lifted their price objective on Nucor from $227.00 to $258.00 and gave the stock an “equal weight” rating in a research note on Monday, June 22nd. KeyCorp raised shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price target on the stock in a research note on Wednesday, June 24th. BNP Paribas Exane increased their price objective on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, Citigroup reissued a “positive” rating on shares of Nucor in a research note on Wednesday, July 15th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.31.

Insider Activity

In related news, EVP Daniel R. Needham sold 12,888 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.00, for a total value of $2,912,688.00. Following the completion of the transaction, the executive vice president owned 89,724 shares of the company’s stock, valued at $20,277,624. The trade was a 12.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Noah C. Hanners sold 6,472 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the completion of the transaction, the executive vice president owned 50,377 shares of the company’s stock, valued at $11,410,390.50. This represents a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 82,378 shares of company stock valued at $18,963,930. 0.62% of the stock is currently owned by corporate insiders.

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.