Legal & General Group Plc Buys New Holdings in Nucor Corporation $NUE

Legal & General Group Plc purchased a new position in Nucor Corporation (NYSE:NUE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,455,238 shares of the basic materials company’s stock, valued at approximately $324,154,000. Legal & General Group Plc owned about 0.64% of Nucor as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NUE. BlackRock Inc. acquired a new stake in shares of Nucor during the 2nd quarter worth about $4,452,563,000. Norges Bank purchased a new stake in Nucor during the fourth quarter worth approximately $609,002,000. Bank of New York Mellon Corp acquired a new position in Nucor in the second quarter valued at approximately $330,902,000. Deutsche Bank AG acquired a new position in Nucor in the second quarter valued at approximately $220,176,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Nucor in the second quarter valued at approximately $126,848,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Transactions at Nucor

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the sale, the executive vice president owned 16,138 shares in the company, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,528 shares of company stock worth $4,793,035 over the last 90 days. 0.62% of the stock is currently owned by insiders.

Nucor Stock Performance

NYSE NUE opened at $247.78 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $280.11. The business’s 50-day moving average price is $246.35 and its 200 day moving average price is $217.86. The firm has a market cap of $56.22 billion, a P/E ratio of 19.76, a P/E/G ratio of 0.91 and a beta of 1.89.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The firm had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter in the previous year, the firm posted $2.60 EPS. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. On average, equities research analysts expect that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were issued a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor’s payout ratio is presently 17.86%.

Key Headlines Impacting Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Wolfe Research maintained its Buy rating on Nucor, reinforcing the bullish analyst view of the steelmaker. Wolfe Research Sticks to Its Buy Rating for Nucor
• Positive Sentiment: Nucor was highlighted as a beneficiary of a broad metals-sector rally. Investors are also emphasizing its electric-arc-furnace operations, which are primarily U.S.-based and less exposed to tariff-burdened imports, as well as infrastructure-driven steel demand and its 52-year record of dividend increases. Nucor On The Radar As A Broad Metals Rally Lifts The Sector
• Positive Sentiment: The breakdown in U.S.-Canada trade discussions put steel tariffs back in focus, prompting gains across U.S. steel producers, including Nucor. The market is interpreting higher trade barriers as potential support for domestic steel prices, demand, and margins. Steel Stocks Jump as U.S.-Canada Tariff Fight Escalates
• Neutral Sentiment: Wells Fargo lowered its Nucor price target from $297 to $285 but retained an Overweight rating. The reduced target tempers the bullish outlook, while still indicating expected upside from the referenced share price.
• Neutral Sentiment: Recent coverage characterized Nucor’s rebound as a recovery from tariff-related volatility. While protectionist policy may improve its competitive position, changing trade policy and retaliation risks could produce sharp price swings. Nucor Shares Rebound After Tariff-Driven Volatility

Wall Street Analyst Weigh In

NUE has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price objective 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. BMO Capital Markets lifted their price target on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Wells Fargo & Company reduced their price target on shares of Nucor from $297.00 to $285.00 and set an “overweight” rating for the company in a research report on Monday. CICC Research started coverage on Nucor in a report on Monday, May 25th. They set an “outperform” rating on the stock. Finally, Zacks Research downgraded Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $272.38.

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.