Rakuten Investment Management Inc. Invests $8.44 Million in Nucor Corporation $NUE

Rakuten Investment Management Inc. purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the second quarter, Holdings Channel reports. The firm purchased 36,924 shares of the basic materials company’s stock, valued at approximately $8,440,000.

Several other large investors also recently bought and sold shares of NUE. Glenview Trust Co purchased a new stake in Nucor during the 2nd quarter valued at about $1,667,000. SwitchPoint Financial Planning LLC purchased a new position in Nucor in the 2nd quarter worth approximately $218,000. Empowered Funds LLC purchased a new position in Nucor in the 2nd quarter worth approximately $16,827,000. United Capital Financial Advisors LLC acquired a new position in shares of Nucor during the 2nd quarter worth approximately $3,168,000. Finally, Bank OZK acquired a new position in shares of Nucor during the 2nd quarter worth approximately $1,797,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on NUE. Zacks Research cut Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Seaport Research Partners lifted their price objective on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. KeyCorp raised Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price objective on the stock in a research note on Wednesday, June 24th. Barclays upped their target price on Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Finally, Argus raised their target price on Nucor from $200.00 to $262.00 and gave the stock 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $272.38.

Nucor Trading Down 0.6%

NYSE NUE opened at $250.84 on Friday. The firm’s 50-day moving average is $246.64 and its two-hundred day moving average is $218.97. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. 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 stock has a market capitalization of $56.91 billion, a P/E ratio of 20.00, a PEG ratio of 0.93 and a beta of 1.89.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.38. The company had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. Nucor’s revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.60 earnings per share. 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 given a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor’s dividend payout ratio (DPR) is presently 17.86%.

Insider Activity at Nucor

In related news, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the sale, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stephen D. Laxton sold 3,968 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 18,528 shares of company stock worth $4,793,035. Insiders own 0.62% of the company’s stock.

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.