Norges Bank Purchases Shares of 3,704,320 Nucor Corporation $NUE

Norges Bank acquired a new position in Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,704,320 shares of the basic materials company’s stock, valued at approximately $479,858,000. Norges Bank owned 1.61% of Nucor as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. RFG Advisory LLC raised its stake in Nucor by 2.9% during the 2nd quarter. RFG Advisory LLC now owns 2,462 shares of the basic materials company’s stock worth $319,000 after acquiring an additional 69 shares during the period. IMA Advisory Services Inc. increased its stake in shares of Nucor by 51.4% in the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 75 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of Nucor by 1.9% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 4,326 shares of the basic materials company’s stock valued at $560,000 after purchasing an additional 79 shares during the period. Matrix Trust Co raised its position in shares of Nucor by 53.8% during the 2nd quarter. Matrix Trust Co now owns 240 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 84 shares during the period. Finally, Applied Finance Capital Management LLC lifted its stake in shares of Nucor by 1.8% during the 2nd quarter. Applied Finance Capital Management LLC now owns 5,908 shares of the basic materials company’s stock valued at $765,000 after buying an additional 103 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nucor

In other news, EVP Allen C. Behr sold 9,042 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $151.28, for a total value of $1,367,873.76. Following the sale, the executive vice president directly owned 73,661 shares in the company, valued at $11,143,436.08. The trade was a 10.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stephen D. Laxton sold 2,003 shares of the stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $151.57, for a total transaction of $303,594.71. Following the completion of the transaction, the chief financial officer directly owned 88,174 shares of the company’s stock, valued at approximately $13,364,533.18. The trade was a 2.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 18,045 shares of company stock valued at $2,720,628 over the last 90 days. 0.46% of the stock is owned by corporate insiders.

Nucor Price Performance

NYSE:NUE opened at $159.49 on Friday. The business’s 50-day moving average is $142.97 and its 200 day moving average is $137.12. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $159.95. The company has a market capitalization of $36.50 billion, a P/E ratio of 22.40, a P/E/G ratio of 1.14 and a beta of 1.80. The company has a current ratio of 2.77, a quick ratio of 1.51 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, October 27th. The basic materials company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.33. The business had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.27 billion. Nucor had a return on equity of 7.80% and a net margin of 5.18%.The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 EPS. Nucor has set its Q4 2025 guidance at -2.630 EPS. On average, equities research analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 10th. Investors of record on Tuesday, September 30th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.20 dividend on an annualized basis and a yield of 1.4%. Nucor’s dividend payout ratio is presently 30.90%.

Analysts Set New Price Targets

NUE has been the subject of a number of analyst reports. Wall Street Zen upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. Wells Fargo & Company upgraded Nucor from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $147.00 to $167.00 in a research report on Friday, November 14th. JPMorgan Chase & Co. lifted their target price on Nucor from $172.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Citigroup upped their price target on Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Finally, Bank of America increased their price objective on shares of Nucor from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, September 15th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Nucor currently has an average rating of “Moderate Buy” and an average target price of $167.20.

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.