Nucor Corporation $NUE Stock Holdings Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its stake in Nucor Corporation (NYSE:NUE) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,062 shares of the basic materials company’s stock after purchasing an additional 3,321 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nucor were worth $11,171,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in Nucor by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock valued at $4,633,554,000 after buying an additional 144,038 shares in the last quarter. Morgan Stanley grew its position in shares of Nucor by 1.1% in the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after acquiring an additional 41,728 shares in the last quarter. Norges Bank acquired a new position in shares of Nucor in the 4th quarter worth approximately $609,002,000. Dimensional Fund Advisors LP increased its holdings in shares of Nucor by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after acquiring an additional 22,718 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Nucor by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,919,883 shares of the basic materials company’s stock valued at $313,152,000 after acquiring an additional 56,565 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NUE. Morgan Stanley raised 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. Bank of America dropped their target price on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and raised their price target for the stock from $190.00 to $224.00 in a research report on Tuesday, April 28th. Barclays lifted their price target on shares of Nucor from $270.00 to $272.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Wells Fargo & Company lowered their price objective on shares of Nucor from $292.00 to $283.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $266.31.

Insider Buying and Selling

In related news, EVP Noah C. Hanners sold 6,472 shares of Nucor stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the sale, the executive vice president directly owned 50,377 shares in the company, valued at $11,410,390.50. The trade was a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen C. Behr sold 10,096 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the completion of the sale, the executive vice president directly owned 62,871 shares of the company’s stock, valued at $14,213,875.68. The trade was a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 82,378 shares of company stock valued at $18,963,930. Company insiders own 0.62% of the company’s stock.

Nucor Price Performance

Shares of NYSE:NUE opened at $247.81 on Friday. The firm’s 50 day moving average is $239.91 and its two-hundred day moving average is $204.18. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $270.90. The firm has a market capitalization of $56.44 billion, a P/E ratio of 24.54, a PEG ratio of 0.57 and a beta of 1.91. 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 released its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating 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 company had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. Analysts anticipate that Nucor Corporation will post 17.53 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Nucor’s payout ratio is 22.18%.

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.