Andra AP fonden Invests $6.82 Million in Nucor Corporation $NUE

Andra AP fonden bought a new position in shares of Nucor Corporation (NYSE:NUE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 40,349 shares of the basic materials company’s stock, valued at approximately $6,823,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings 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 worth $4,633,554,000 after buying an additional 144,038 shares in the last quarter. Morgan Stanley raised its holdings in 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 purchasing an additional 41,728 shares during the period. Norges Bank purchased a new position in Nucor during the fourth quarter worth approximately $609,002,000. Dimensional Fund Advisors LP grew its holdings in Nucor by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after purchasing an additional 22,718 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Nucor by 3.0% in the fourth 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 purchasing an additional 56,565 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Up 1.3%

Shares of NYSE NUE opened at $236.20 on Thursday. The company has a 50 day simple moving average of $239.33 and a 200-day simple moving average of $203.37. The company has a market capitalization of $53.79 billion, a P/E ratio of 23.39, a P/E/G ratio of 0.54 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. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $270.90.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. The firm had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.77 earnings per share. On average, equities research analysts predict that Nucor Corporation will post 17.53 earnings per share for the current year.

Nucor Announces Dividend

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

Insider Activity at Nucor

In other news, EVP Allen C. Behr sold 10,096 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $226.08, for a total value of $2,282,503.68. Following the transaction, the executive vice president directly owned 62,871 shares in the company, valued at approximately $14,213,875.68. This represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel R. Needham sold 12,888 shares of Nucor stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $226.00, for a total value of $2,912,688.00. Following the completion of the transaction, the executive vice president directly owned 89,724 shares of the company’s stock, valued at approximately $20,277,624. This represents a 12.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 82,378 shares of company stock valued at $18,963,930 over the last quarter. 0.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NUE has been the topic of a number of research analyst reports. Zacks Research cut shares of Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Jefferies Financial Group upped their price target on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Argus upped their target price on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. CICC Research began coverage on shares of Nucor in a research report on Monday, May 25th. They set an “outperform” rating on the stock. Finally, Citigroup reaffirmed a “positive” rating on shares of Nucor in a research note on Wednesday, July 15th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $266.31.

Nucor Company 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.