Nykredit A S Purchases New Holdings in Nucor Corporation $NUE

Nykredit A S purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the second quarter, Holdings Channel reports. The institutional investor purchased 65,300 shares of the basic materials company’s stock, valued at approximately $14,546,000.

Several other hedge funds and other institutional investors have also bought and sold shares of NUE. B. Metzler seel. Sohn & Co. AG grew its stake in Nucor by 15.1% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 7,537 shares of the basic materials company’s stock valued at $1,679,000 after purchasing an additional 990 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Nucor during the 2nd quarter worth $355,000. Nwam LLC boosted its holdings in shares of Nucor by 173.1% in the 2nd quarter. Nwam LLC now owns 4,320 shares of the basic materials company’s stock worth $962,000 after buying an additional 2,738 shares during the last quarter. Maple Rock Capital Partners Inc. grew its position in Nucor by 423.8% during the second quarter. Maple Rock Capital Partners Inc. now owns 614,000 shares of the basic materials company’s stock valued at $136,768,000 after buying an additional 496,788 shares during the period. Finally, NINE MASTS CAPITAL Ltd bought a new position in Nucor during the second quarter valued at about $276,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In related news, COO Stephen Laxton sold 3,968 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas Batterbee sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the transaction, the executive vice president owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.62% of the company’s stock.

Nucor Stock Performance

Shares of NUE stock opened at $260.98 on Friday. The stock has a market capitalization of $59.21 billion, a P/E ratio of 20.81, a PEG ratio of 0.97 and a beta of 1.87. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The firm’s 50 day moving average is $248.16 and its 200 day moving average is $221.33. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period in the previous year, the business earned $2.60 EPS. Nucor’s revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s payout ratio is presently 17.86%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Seaport Research Partners lifted their price objective on shares of Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Barclays raised their price target on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Bank of America lowered their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Citigroup reissued a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. Finally, Argus boosted their target price on Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and a consensus target price of $272.38.

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.