Heartland Advisors Inc. Purchases Shares of 36,438 Nucor Corporation $NUE

Heartland Advisors Inc. purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 36,438 shares of the basic materials company’s stock, valued at approximately $8,117,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Nucor by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock valued at $4,633,554,000 after buying an additional 144,038 shares in the last quarter. BlackRock Inc. purchased a new stake in Nucor during the second quarter worth about $4,452,563,000. Morgan Stanley raised its holdings in shares of Nucor by 1.1% in the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after purchasing an additional 41,728 shares during the period. Norges Bank bought a new stake in shares of Nucor in the fourth quarter valued at $609,002,000. Finally, Dimensional Fund Advisors LP raised its stake 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 valued at $429,298,000 after acquiring an additional 22,718 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NUE. Bank of America dropped their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. CICC Research assumed coverage on Nucor in a report on Monday, May 25th. They set an “outperform” rating for the company. Citigroup reissued a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, Wells Fargo & Company upped their target price on Nucor from $283.00 to $297.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $273.31.

Nucor Trading Up 1.4%

NUE opened at $243.89 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The firm has a market capitalization of $55.33 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 0.89 and a beta of 1.89. The business has a 50 day simple moving average of $246.88 and a two-hundred day simple moving average of $216.80. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.38. The business had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.60 earnings per share. Analysts predict that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Announces Dividend

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

Insider Buying and Selling

In related news, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This trade represents a 19.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of the company’s 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 completion of the sale, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 18,528 shares of company stock worth $4,793,035 in the last three months. 0.62% of the stock is owned by corporate insiders.

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.