SEB Asset Management AB Purchases New Shares in Nucor Corporation $NUE

SEB Asset Management AB bought a new stake in shares of Nucor Corporation (NYSE:NUE) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 51,301 shares of the basic materials company’s stock, valued at approximately $8,675,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Stance Capital LLC purchased a new stake in shares of Nucor during the third quarter worth about $25,000. Strive Financial Group LLC acquired a new stake in shares of Nucor in the fourth quarter worth approximately $27,000. Motiv8 Investments LLC acquired a new stake in shares of Nucor in the fourth quarter worth approximately $32,000. Bartlett & CO. Wealth Management LLC increased its position in shares of Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in shares of Nucor during the fourth quarter worth approximately $32,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of Nucor stock opened at $233.26 on Wednesday. The business’s 50 day moving average price is $239.26 and its 200 day moving average price is $202.86. The company has a market cap of $53.12 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 0.53 and a beta of 1.91. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. Nucor Corporation has a one year low of $131.32 and a one year high of $270.90.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The business had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same period last year, the company earned $0.77 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, research analysts predict that Nucor Corporation will post 17.68 EPS for the current year.

Nucor Dividend Announcement

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

Wall Street Analyst Weigh In

NUE has been the topic of a number of research reports. The Goldman Sachs Group raised their price objective on Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Argus upped their target price on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Zacks Research cut shares of Nucor from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Barclays raised their price target on shares of Nucor from $270.00 to $272.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 15th. Finally, Morgan Stanley boosted their price target on shares of Nucor from $227.00 to $258.00 and gave the stock an “equal weight” rating in a research report on Monday, June 22nd. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $266.31.

Insider Activity at Nucor

In other news, EVP Daniel R. Needham sold 12,888 shares of the firm’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 transaction of $2,912,688.00. Following the completion of the sale, the executive vice president owned 89,724 shares in the company, valued at $20,277,624. This trade represents a 12.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the sale, the executive vice president directly owned 62,871 shares in the company, valued at approximately $14,213,875.68. The trade was a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 82,378 shares of company stock valued at $18,963,930 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

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.