Posted by admin on Jun 24th, 2022

Veriti Management LLC cut its holdings in shares of Nucor Co. (NYSE:NUE – Get Rating) by 5.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,347 shares of the basic materials company’s stock after selling 305 shares during the quarter. Veriti Management LLC’s holdings in Nucor were worth $795,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Nucor during the 4th quarter valued at $683,804,000. Pacer Advisors Inc. lifted its holdings in shares of Nucor by 243.5% in the first quarter. Pacer Advisors Inc. now owns 578,910 shares of the basic materials company’s stock worth $86,055,000 after buying an additional 410,371 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Nucor by 18.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,831,049 shares of the basic materials company’s stock valued at $209,014,000 after acquiring an additional 290,534 shares during the period. Allspring Global Investments Holdings LLC bought a new position in shares of Nucor in the fourth quarter valued at approximately $30,594,000. Finally, Todd Asset Management LLC purchased a new position in Nucor during the fourth quarter valued at approximately $23,240,000. Hedge funds and other institutional investors own 77.70% of the company’s stock.

In related news, CEO Leon J. Topalian sold 48,768 shares of the business’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $112.61, for a total transaction of $5,491,764.48. Following the transaction, the chief executive officer now owns 135,809 shares in the company, valued at approximately $15,293,451.49. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Daniel R. Needham sold 4,000 shares of the stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $160.00, for a total value of $640,000.00. Following the completion of the sale, the executive vice president now owns 46,994 shares of the company’s stock, valued at approximately $7,519,040. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.

Nucor stock opened at $106.04 on Friday. The firm has a fifty day simple moving average of $134.67 and a two-hundred day simple moving average of $127.86. The company has a quick ratio of 1.66, a current ratio of 2.88 and a debt-to-equity ratio of 0.38. Nucor Co. has a twelve month low of $87.71 and a twelve month high of $187.90. The company has a market capitalization of $28.21 billion, a PE ratio of 3.79 and a beta of 1.23.

Nucor (NYSE:NUE – Get Rating) last issued its earnings results on Thursday, April 21st. The basic materials company reported $7.67 earnings per share for the quarter, beating the consensus estimate of $7.35 by $0.32. The company had revenue of $10.49 billion during the quarter, compared to analysts’ expectations of $10.72 billion. Nucor had a return on equity of 55.61% and a net margin of 19.97%. Nucor’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same period in the prior year, the business posted $3.10 EPS. As a group, equities analysts expect that Nucor Co. will post 29.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Thursday, June 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Wednesday, June 29th. Nucor’s dividend payout ratio is 7.15%.

A number of research analysts have recently commented on NUE shares. Argus boosted their price target on shares of Nucor from $140.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, April 25th. JPMorgan Chase & Co. decreased their target price on Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 14th. UBS Group set a $120.00 price target on Nucor in a research report on Monday. BMO Capital Markets lowered their target price on shares of Nucor from $168.00 to $128.00 in a research note on Tuesday, May 17th. Finally, Credit Suisse Group boosted their price target on shares of Nucor from $142.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, April 22nd. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $132.55.

Nucor Corporation manufactures and sells steel and steel products. The company's Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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