Nucor Corporation $NUE Stock Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. raised its position in Nucor Corporation (NYSE:NUE) by 9.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,407 shares of the basic materials company’s stock after purchasing an additional 3,483 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Nucor were worth $9,546,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NUE. Transamerica Financial Advisors LLC purchased a new stake in shares of Nucor during the 2nd quarter worth about $25,000. GK Wealth Management LLC acquired a new stake in shares of Nucor during the 3rd quarter valued at about $28,000. Next Level Wealth Planning LLC acquired a new stake in shares of Nucor during the 3rd quarter valued at about $28,000. Manning & Napier Advisors LLC bought a new stake in shares of Nucor in the 2nd quarter valued at approximately $27,000. Finally, Bell Investment Advisors Inc bought a new stake in shares of Nucor in the 2nd quarter valued at approximately $28,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Price Performance

NYSE NUE opened at $245.71 on Friday. Nucor Corporation has a fifty-two week low of $140.93 and a fifty-two week high of $287.70. The stock’s 50-day moving average is $255.31 and its two-hundred day moving average is $225.29. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.43. The firm has a market cap of $55.75 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 0.66 and a beta of 1.81.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing analysts’ consensus estimates of $5.84 by ($0.04). The company had revenue of $11.25 billion during the quarter, compared to analyst estimates of $10.84 billion. Nucor had a return on equity of 15.53% and a net margin of 9.26%. Nucor’s quarterly revenue was up 32.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.63 EPS. On average, analysts anticipate that Nucor Corporation will post 19.63 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor’s dividend payout ratio (DPR) is presently 14.26%.

Key Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: A bullish feature cited exceptionally strong steel demand and Nucor’s ability to benefit from it. Another Zacks commentary pointed to record shipments, rising steel prices and expanding margins. Bull of the Day: Nucor
• Positive Sentiment: The longer-term industry backdrop may be supportive: a market report projects global metal recycling will grow, with Nucor among the companies positioned in the sector. This is a broad industry forecast, not a company-specific catalyst. Global Metal Recycling Market forecast
• Neutral Sentiment: Recent quarterly revenue grew 32% year over year and beat estimates, but EPS narrowly missed consensus. The mixed results provide both a positive revenue signal and a modest earnings disappointment.
• Negative Sentiment: Nucor underperformed its competitors as shares fell in the latest session. Coverage described the move but did not point to a specific new operational or financial development explaining it. Nucor underperforms competitors
• Negative Sentiment: COO Stephen Laxton sold 10,560 shares, reducing his stake by about 12%. Insider sales can be for personal or planned reasons, but may weigh on sentiment. Nucor insider sale

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Citigroup restated a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. Wedbush set a $304.00 target price on shares of Nucor in a research note on Monday. Zacks Research upgraded shares of Nucor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 13th. KeyCorp boosted their target price on shares of Nucor from $286.00 to $301.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Bank of America dropped their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average price target of $287.38.

Insider Buying and Selling

In related news, EVP Noah Hanners sold 5,190 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $275.03, for a total value of $1,427,405.70. Following the completion of the sale, the executive vice president directly owned 44,073 shares in the company, valued at approximately $12,121,397.19. The trade was a 10.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen Laxton sold 10,560 shares of the business’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $274.98, for a total value of $2,903,788.80. Following the completion of the sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $21,411,867.66. This trade represents a 11.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,732 shares of company stock valued at $7,881,287 over the last 90 days. 0.62% of the stock is currently owned by insiders.

Nucor Company Profile

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.