Assenagon Asset Management S.A. Has $4.92 Million Stock Holdings in Nucor Corporation $NUE

Assenagon Asset Management S.A. lifted its position in shares of Nucor Corporation (NYSE:NUE) by 255.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 29,074 shares of the basic materials company’s stock after buying an additional 20,902 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Nucor were worth $4,916,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stance Capital LLC bought a new position in Nucor in the 3rd quarter valued at approximately $25,000. Strive Financial Group LLC bought a new stake in Nucor during the 4th quarter worth approximately $27,000. Motiv8 Investments LLC bought a new stake in Nucor during the 4th quarter worth approximately $32,000. Mcguire Capital Advisors Inc. acquired a new position in Nucor in the 4th quarter valued at approximately $32,000. Finally, Reflection Asset Management bought a new position in shares of Nucor during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NUE shares. Citigroup lifted their price target on shares of Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. CICC Research began coverage on Nucor in a report on Monday, May 25th. They issued an “outperform” rating for the company. KeyCorp raised Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 target price for the company in a research report on Wednesday, June 24th. JPMorgan Chase & Co. lifted their target price on Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Finally, Jefferies Financial Group upped their price target on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus target price of $266.92.

Nucor Price Performance

Nucor stock opened at $228.79 on Tuesday. The stock has a market capitalization of $52.11 billion, a price-to-earnings ratio of 22.65, a PEG ratio of 0.57 and a beta of 1.88. Nucor Corporation has a 52-week low of $128.46 and a 52-week high of $270.90. The stock’s 50 day moving average price is $236.59 and its two-hundred day moving average price is $195.55. 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 (NYSE:NUE) last announced its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.82 by $0.41. The company had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company’s quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. On average, equities analysts predict that Nucor Corporation will post 17 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is presently 22.18%.

Insider Transactions at Nucor

In other news, EVP Randy J. Spicer sold 2,500 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $225.00, for a total transaction of $562,500.00. Following the transaction, the executive vice president owned 20,510 shares of the company’s stock, valued at $4,614,750. This represents a 10.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 82,378 shares of company stock valued at $18,963,930. 0.62% of the stock is owned by insiders.

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.