Nucor Corporation $NUE Shares Acquired by Legal & General Group Plc

Legal & General Group Plc raised its position in shares of Nucor Corporation (NYSE:NUE) by 11.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,630,986 shares of the basic materials company’s stock after buying an additional 164,021 shares during the quarter. Legal & General Group Plc owned about 0.71% of Nucor worth $220,884,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of NUE. Fox Run Management L.L.C. bought a new position in shares of Nucor in the 3rd quarter worth about $1,528,000. Penserra Capital Management LLC grew its position in shares of Nucor by 15,814.3% during the 3rd quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock valued at $452,000 after buying an additional 3,321 shares during the last quarter. Allstate Corp acquired a new stake in Nucor during the third quarter worth about $1,085,000. Peterson Wealth Services lifted its holdings in Nucor by 587,032.0% in the third quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock worth $19,879,000 after acquiring an additional 146,758 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Nucor by 11.7% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 135,065 shares of the basic materials company’s stock worth $17,496,000 after acquiring an additional 14,106 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NUE opened at $165.64 on Friday. The firm has a market capitalization of $37.73 billion, a P/E ratio of 21.97, a PEG ratio of 0.62 and a beta of 1.83. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average of $177.31 and a 200-day moving average of $158.35. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $196.90.

Nucor (NYSE:NUE) last released its quarterly 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 business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.22 EPS. Equities analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor announced that its Board of Directors has authorized a share repurchase plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.4%. Nucor’s dividend payout ratio is presently 29.71%.

Insider Activity

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $178.00, for a total transaction of $690,818.00. Following the sale, the executive vice president owned 88,298 shares of the company’s stock, valued at $15,717,044. This represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas J. Batterbee sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total transaction of $330,560.00. Following the completion of the sale, the executive vice president owned 17,952 shares of the company’s stock, valued at $2,967,106.56. The trade was a 10.02% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 34,351 shares of company stock worth $6,206,158. Corporate insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Seaport Research Partners upped their target price on Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a report on Friday, January 30th. Wall Street Zen lowered Nucor from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. BMO Capital Markets upped their price objective on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. The Goldman Sachs Group increased their target price on Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Finally, BNP Paribas Exane raised their target price on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Nucor has an average rating of “Moderate Buy” and a consensus price target of $187.90.

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.