NFJ Investment Group LLC Purchases New Position in Nucor Corporation $NUE

NFJ Investment Group LLC acquired a new position in Nucor Corporation (NYSE:NUE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 152,172 shares of the basic materials company’s stock, valued at approximately $33,896,000. Nucor comprises approximately 1.1% of NFJ Investment Group LLC’s portfolio, making the stock its 29th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bell Investment Advisors Inc purchased a new position in Nucor in the second quarter worth about $28,000. Strive Financial Group LLC purchased a new stake in Nucor in the 4th quarter worth about $27,000. Stance Capital LLC purchased a new stake in Nucor in the 3rd quarter worth about $25,000. Bartlett & CO. Wealth Management LLC lifted its stake in Nucor by 49.2% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 63 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of Nucor during the fourth quarter valued at approximately $32,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In other Nucor 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 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. The trade was a 19.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the company’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 value of $2,729,337.60. Following the sale, the executive vice president directly owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 18,528 shares of company stock valued at $4,793,035. 0.62% of the stock is currently owned by corporate insiders.

Nucor Trading Down 3.2%

NUE opened at $240.79 on Friday. The company’s 50 day simple moving average is $247.32 and its two-hundred day simple moving average is $216.61. The firm has a market capitalization of $54.63 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 0.55 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11.

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

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were given 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 dividend payout ratio (DPR) is currently 17.86%.

Analyst Ratings Changes

Several research firms recently commented on NUE. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nucor in a research note on Tuesday, August 11th. Zacks Research lowered shares of Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Wells Fargo & Company increased their price objective on shares of Nucor from $283.00 to $297.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Citigroup reaffirmed a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $273.31.

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.