Cibc World Market Inc. Invests $3.94 Million in Nucor Corporation $NUE

Cibc World Market Inc. bought a new position in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, Holdings Channel reports. The firm bought 17,700 shares of the basic materials company’s stock, valued at approximately $3,943,000.

Several other large investors also recently bought and sold shares of NUE. Stance Capital LLC acquired a new stake in Nucor in the 3rd quarter valued at about $25,000. Strive Financial Group LLC acquired a new stake in shares of Nucor in the fourth quarter worth approximately $27,000. Bell Investment Advisors Inc acquired a new position in shares of Nucor in the 2nd quarter valued at $28,000. Motiv8 Investments LLC acquired a new stake in Nucor during the fourth quarter worth about $32,000. Finally, Bartlett & CO. Wealth Management LLC raised its stake in shares of Nucor by 49.2% in the 1st 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 during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the sale, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,528 shares of company stock worth $4,793,035 in the last ninety days. 0.62% of the stock is owned by insiders.

Nucor Trading Up 2.1%

Shares of NYSE NUE opened at $252.69 on Thursday. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11. The company has a market cap of $57.33 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $246.35 and its 200 day simple moving average is $218.33.

Nucor (NYSE:NUE) last posted its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same period last year, the business posted $2.60 earnings per share. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. Equities research analysts expect that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a $0.56 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.9%. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NUE shares. Bank of America decreased their price target on Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Barclays upped their target price on shares of Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Argus increased their price target on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. CICC Research initiated coverage on Nucor in a research report on Monday, May 25th. They issued an “outperform” rating for the company. Finally, Zacks Research lowered shares of Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $272.38.

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.