Dimensional Fund Advisors LP Acquires 22,718 Shares of Nucor Corporation $NUE

Dimensional Fund Advisors LP grew its stake in shares of Nucor Corporation (NYSE:NUE) by 0.9% during the 1st quarter, HoldingsChannel reports. The fund owned 2,539,044 shares of the basic materials company’s stock after buying an additional 22,718 shares during the period. Dimensional Fund Advisors LP’s holdings in Nucor were worth $429,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Stance Capital LLC purchased a new position in shares of Nucor in the third quarter valued at $25,000. Strive Financial Group LLC purchased a new stake in Nucor during the 4th quarter worth about $27,000. Motiv8 Investments LLC bought a new position in Nucor in the 4th quarter worth about $32,000. Bartlett & CO. Wealth Management LLC grew its holdings in Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after buying an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in Nucor during the 4th quarter valued at about $32,000. 76.48% of the stock is owned by institutional investors.

Insider Activity at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David A. Sumoski sold 33,068 shares of Nucor stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $225.67, for a total transaction of $7,462,455.56. Following the transaction, the executive vice president owned 243,339 shares of the company’s stock, valued at $54,914,312.13. The trade was a 11.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 82,378 shares of company stock worth $18,963,930 over the last 90 days. 0.62% of the stock is currently owned by insiders.

Nucor Price Performance

Shares of NUE stock opened at $230.86 on Tuesday. The business’s fifty day moving average is $239.19 and its 200 day moving average is $202.36. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The stock has a market cap of $52.58 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 0.54 and a beta of 1.91. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $270.90.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The business had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. During the same quarter last year, the firm posted $0.77 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. Research analysts expect that Nucor Corporation will post 17.68 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is 22.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NUE shares. Seaport Research Partners raised their price objective on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Jefferies Financial Group raised their target price on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. lifted their target price on shares of Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 10th. Morgan Stanley upped their price target on shares of Nucor from $227.00 to $258.00 and gave the company an “equal weight” rating in a report on Monday, June 22nd. Finally, Argus increased their price target on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Twelve investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $266.31.

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.