Mirae Asset Global Investments Co. Ltd. Buys 2,888 Shares of Nucor Corporation $NUE

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Nucor Corporation (NYSE:NUE) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,274 shares of the basic materials company’s stock after purchasing an additional 2,888 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Nucor were worth $5,048,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of NUE. Hudson Capital Management LLC increased its position in Nucor by 6.6% during the second quarter. Hudson Capital Management LLC now owns 34,784 shares of the basic materials company’s stock worth $4,506,000 after acquiring an additional 2,154 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of Nucor by 138.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 121,543 shares of the basic materials company’s stock worth $15,745,000 after purchasing an additional 70,581 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Nucor in the second quarter valued at approximately $236,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Nucor in the second quarter valued at approximately $5,225,000. Finally, Allstate Corp acquired a new stake in Nucor during the third quarter worth approximately $1,085,000. 76.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NUE has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their target price on Nucor from $182.00 to $196.00 and gave the company a “buy” rating in a research report on Friday, January 16th. Morgan Stanley reaffirmed an “equal weight” rating and set a $180.00 price objective (up previously from $165.00) on shares of Nucor in a research report on Friday, January 9th. BNP Paribas Exane increased their price objective on shares of Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. Jefferies Financial Group raised their target price on shares of Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target for the company. in a report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $179.36.

Insider Buying and Selling at Nucor

In related news, EVP John J. Hollatz sold 7,000 shares of Nucor stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $149.88, for a total transaction of $1,049,160.00. Following the sale, the executive vice president directly owned 96,550 shares in the company, valued at $14,470,914. This trade represents a 6.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allen C. Behr sold 5,950 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $157.89, for a total transaction of $939,445.50. Following the completion of the transaction, the executive vice president owned 67,711 shares of the company’s stock, valued at approximately $10,690,889.79. This trade represents a 8.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 14,950 shares of company stock worth $2,319,166. 0.71% of the stock is currently owned by insiders.

Nucor Price Performance

NUE stock opened at $177.67 on Monday. The stock has a market cap of $40.66 billion, a price-to-earnings ratio of 23.56, a P/E/G ratio of 0.97 and a beta of 1.86. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The company has a 50 day simple moving average of $166.44 and a 200 day simple moving average of $150.79. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $183.32.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 EPS. Research analysts anticipate that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a boost from Nucor’s previous quarterly dividend of $0.55. Nucor’s payout ratio is currently 29.71%.

About Nucor

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.