BI Asset Management Fondsmaeglerselskab A S Acquires 3,532 Shares of Nucor Corporation $NUE

BI Asset Management Fondsmaeglerselskab A S grew its holdings in Nucor Corporation (NYSE:NUE) by 28.8% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 15,812 shares of the basic materials company’s stock after acquiring an additional 3,532 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Nucor were worth $2,674,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Integrated Wealth Concepts LLC increased its stake 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 buying an additional 568 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Nucor in the first quarter worth $259,000. Geneos Wealth Management Inc. boosted its holdings 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 acquiring an additional 153 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Nucor in the second quarter valued at $390,000. Finally, Cerity Partners LLC increased its position in Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after purchasing an additional 13,877 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP John J. Hollatz sold 10,560 shares of the firm’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 transaction of $2,729,337.60. Following the completion of the transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at $25,294,187.90. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Noah C. Hanners sold 6,472 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.50, for a total value of $1,465,908.00. Following the transaction, the executive vice president directly owned 50,377 shares of the company’s stock, valued at approximately $11,410,390.50. This trade represents a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 82,378 shares of company stock valued at $18,963,930. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NUE has been the subject of several research analyst reports. Seaport Research Partners raised their target price on shares of Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Barclays began coverage on shares of Nucor in a research note on Thursday, May 21st. They set an “overweight” rating and a $270.00 target price on the stock. Citigroup increased their price target on shares of Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Bank of America raised their price objective on shares of Nucor from $265.00 to $290.00 in a report on Friday, June 12th. Finally, Argus lifted their price objective on Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.92.

Nucor Stock Down 2.3%

NYSE:NUE opened at $239.40 on Wednesday. The firm’s 50-day moving average price is $232.68 and its 200-day moving average price is $193.31. The company has a market capitalization of $54.52 billion, a PE ratio of 23.70, a P/E/G ratio of 0.63 and a beta of 1.88. 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 $126.50 and a 1-year high of $270.90.

Nucor (NYSE:NUE) last issued 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. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same period last year, the company posted $0.77 EPS. Nucor’s revenue was up 21.3% on a year-over-year basis. On average, equities analysts predict that Nucor Corporation will post 15.68 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is presently 22.18%.

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.