Danske Bank A S Makes New $33.55 Million Investment in Nucor Corporation $NUE

Danske Bank A S bought a new stake in shares of Nucor Corporation (NYSE:NUE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 150,623 shares of the basic materials company’s stock, valued at approximately $33,551,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Nucor by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock worth $4,633,554,000 after buying an additional 144,038 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Nucor during the second quarter valued at approximately $4,452,563,000. Morgan Stanley increased its position in shares of Nucor by 1.1% during the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock valued at $628,497,000 after acquiring an additional 41,728 shares in the last quarter. Norges Bank bought a new stake in shares of Nucor during the fourth quarter valued at approximately $609,002,000. Finally, Dimensional Fund Advisors LP raised its holdings in Nucor by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock worth $429,298,000 after acquiring an additional 22,718 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the business’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 transaction, the executive vice president owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. The trade was a 19.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 18,528 shares of company stock valued at $4,793,035 in the last quarter. 0.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Seaport Research Partners lifted their price objective on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. KeyCorp raised Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price target on the stock in a report on Wednesday, June 24th. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Bank of America dropped their price target on Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Jefferies Financial Group raised their price objective on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $273.31.

Nucor Stock Down 5.9%

NUE opened at $248.72 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The firm’s fifty day moving average is $247.72 and its 200 day moving average is $216.16. The stock has a market cap of $56.43 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 0.59 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, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same quarter in the prior year, the business posted $2.60 EPS. Nucor’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, sell-side analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were paid 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 yield of 0.9%. Nucor’s payout ratio is presently 17.86%.

Nucor 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.