Thrivent Financial for Lutherans Boosts Holdings in Nucor Corporation $NUE

Thrivent Financial for Lutherans increased its stake in Nucor Corporation (NYSE:NUE) by 8.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,030,273 shares of the basic materials company’s stock after buying an additional 83,970 shares during the period. Thrivent Financial for Lutherans owned 0.45% of Nucor worth $139,530,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. IMA Advisory Services Inc. raised its position in shares of Nucor by 51.4% in the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 75 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Nucor in the second quarter worth $39,000. Salomon & Ludwin LLC lifted its position in Nucor by 45.5% during the third quarter. Salomon & Ludwin LLC now owns 320 shares of the basic materials company’s stock valued at $44,000 after buying an additional 100 shares during the period. Root Financial Partners LLC purchased a new position in Nucor during the third quarter valued at $44,000. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after buying an additional 153 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Seaport Research Partners lifted their price target on shares of Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday. BMO Capital Markets reiterated an “outperform” rating on shares of Nucor in a report on Wednesday, October 29th. JPMorgan Chase & Co. upped their price target on Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Citigroup lifted their price objective on Nucor from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group increased their target price on Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $179.36.

Insider Transactions at Nucor

In other Nucor news, EVP Allen C. Behr sold 5,950 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $157.89, for a total value of $939,445.50. Following the completion of the sale, the executive vice president owned 67,711 shares in the company, valued at approximately $10,690,889.79. This represents a 8.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John J. Hollatz sold 7,000 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $149.88, for a total value of $1,049,160.00. Following the sale, the executive vice president owned 96,550 shares of the company’s stock, valued at $14,470,914. This represents a 6.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 14,950 shares of company stock valued at $2,319,166 over the last three months. Corporate insiders own 0.46% of the company’s stock.

Nucor Stock Down 1.2%

Nucor stock opened at $177.67 on Friday. Nucor Corporation has a one year low of $97.59 and a one year high of $183.32. The stock has a fifty day moving average of $166.44 and a 200 day moving average of $150.70. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.94. The stock has a market cap of $40.66 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 0.98 and a beta of 1.87.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. As a group, sell-side analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be given a $0.56 dividend. The ex-dividend date is Wednesday, December 31st. This is an increase from Nucor’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.3%. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

About Nucor

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.