Keybank National Association OH Boosts Stake in Nucor Corporation $NUE

Keybank National Association OH lifted its holdings in shares of Nucor Corporation (NYSE:NUE) by 29.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,917 shares of the basic materials company’s stock after purchasing an additional 3,815 shares during the quarter. Keybank National Association OH’s holdings in Nucor were worth $2,861,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NUE. Integrated Wealth Concepts LLC increased its position in shares of Nucor by 21.1% during the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Nucor in the first quarter valued at approximately $259,000. Geneos Wealth Management Inc. raised its position in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 153 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Nucor during the second quarter worth $390,000. Finally, Cerity Partners LLC grew its stake in shares of Nucor by 51.9% in the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after buying an additional 13,877 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Nucor

In related news, EVP Bradley Ford sold 2,240 shares of Nucor stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total value of $519,971.20. Following the completion of the transaction, the executive vice president owned 43,649 shares in the company, valued at $10,132,242.37. The trade was a 4.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael D. Keller sold 4,554 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $225.86, for a total transaction of $1,028,566.44. Following the transaction, the insider owned 16,834 shares of the company’s stock, valued at $3,802,127.24. This trade represents a 21.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 82,378 shares of company stock valued at $18,963,930 over the last quarter. Insiders own 0.62% of the company’s stock.

Nucor Trading Down 0.1%

NUE opened at $220.61 on Monday. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $270.90. The stock has a market capitalization of $50.24 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 0.50 and a beta of 1.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The business has a fifty day moving average price of $237.84 and a 200 day moving average price of $197.13.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.Nucor’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 EPS. Sell-side analysts expect that Nucor Corporation will post 17.68 earnings per share for the current fiscal year.

Nucor Dividend Announcement

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

Wall Street Analysts Forecast Growth

NUE has been the topic of several research reports. Seaport Research Partners increased their target price on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. The Goldman Sachs Group boosted their price target on shares of Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. 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. Jefferies Financial Group raised their price objective on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, BNP Paribas Exane lifted their price objective on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $266.92.

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.