MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $216.70 Million Stock Position in Nucor Corporation $NUE

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Nucor Corporation (NYSE:NUE) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,600,045 shares of the basic materials company’s stock after buying an additional 11,618 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.70% of Nucor worth $216,695,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NUE. Whittier Trust Co. lifted its position in Nucor by 5.6% in the 3rd quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company’s stock valued at $184,000 after acquiring an additional 70 shares in the last quarter. HUB Investment Partners LLC lifted its stake in Nucor by 1.9% in the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company’s stock valued at $531,000 after acquiring an additional 75 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in Nucor by 1.9% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 4,326 shares of the basic materials company’s stock valued at $560,000 after acquiring an additional 79 shares in the last quarter. Versant Capital Management Inc boosted its position in Nucor by 23.2% during the 3rd quarter. Versant Capital Management Inc now owns 425 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 80 shares during the last quarter. Finally, True North Advisors LLC grew its stake in shares of Nucor by 3.9% during the 3rd quarter. True North Advisors LLC now owns 2,195 shares of the basic materials company’s stock worth $297,000 after acquiring an additional 82 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on NUE. Jefferies Financial Group lifted their price objective on shares of Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, January 12th. BNP Paribas Exane raised their target price on shares of Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Wall Street Zen lowered shares of Nucor from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. JPMorgan Chase & Co. boosted their price target on shares of Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $180.00 price objective (up from $165.00) on shares of Nucor in a report on Friday, January 9th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $188.00.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the sale, the executive vice president owned 88,298 shares in the company, valued at $15,717,044. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas J. Batterbee sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total value of $330,560.00. Following the completion of the sale, the executive vice president directly owned 17,952 shares of the company’s stock, valued at approximately $2,967,106.56. The trade was a 10.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 34,351 shares of company stock worth $6,206,158 in the last three months. 0.71% of the stock is owned by corporate insiders.

Nucor Stock Performance

NYSE NUE opened at $162.78 on Tuesday. The firm has a market capitalization of $37.08 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 0.58 and a beta of 1.83. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average price is $177.09 and its two-hundred day moving average price is $158.67. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $196.90.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The firm had revenue of $7.69 billion during 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 business’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $1.22 EPS. As a group, research analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s payout ratio is 29.71%.

Nucor declared that its board has approved a stock buyback plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

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.