Nucor Corporation $NUE Stock Position Lifted by Swiss National Bank

Swiss National Bank lifted its stake in shares of Nucor Corporation (NYSE:NUE) by 6.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 671,700 shares of the basic materials company’s stock after acquiring an additional 42,900 shares during the quarter. Swiss National Bank’s holdings in Nucor were worth $113,584,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Nucor in the 4th quarter valued at $609,002,000. AQR Capital Management LLC raised its holdings in Nucor by 580.9% in the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after acquiring an additional 557,819 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Nucor by 169.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock valued at $127,216,000 after purchasing an additional 489,950 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Nucor by 27.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock worth $290,405,000 after acquiring an additional 383,952 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Nucor by 494.5% during the fourth quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company’s stock valued at $70,873,000 after purchasing an additional 361,417 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on NUE shares. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Citigroup restated a “positive” rating on shares of Nucor in a research note on Wednesday, July 15th. The Goldman Sachs Group increased their price target on shares of Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and upped their price objective for the company from $190.00 to $224.00 in a research note on Tuesday, April 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. Twelve research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $266.31.

Nucor Stock Down 2.4%

Shares of NUE stock opened at $230.86 on Tuesday. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $270.90. The stock has a market cap of $52.58 billion, a P/E ratio of 22.86, a P/E/G ratio of 0.54 and a beta of 1.91. The company has a 50 day simple moving average of $239.19 and a two-hundred day simple moving average of $202.36. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating 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 business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter in the previous year, the firm earned $0.77 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, research analysts expect that Nucor Corporation will post 17.68 earnings per share for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Nucor’s payout ratio is currently 22.18%.

Insider Buying and Selling

In related news, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares in the company, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Bradley Ford sold 2,240 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total value of $519,971.20. Following the completion of 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 have sold a total of 82,378 shares of company stock valued at $18,963,930 in the last three months. 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.