Van ECK Associates Corp Increases Stock Position in Nucor Corporation $NUE

Van ECK Associates Corp lifted its stake in Nucor Corporation (NYSE:NUE) by 14.9% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,337 shares of the basic materials company’s stock after acquiring an additional 9,263 shares during the quarter. Van ECK Associates Corp’s holdings in Nucor were worth $15,890,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its stake in Nucor by 21.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after buying an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Nucor in the first quarter worth $259,000. Geneos Wealth Management Inc. grew its holdings in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 153 shares during the period. Sivia Capital Partners LLC purchased a new stake in Nucor during the second quarter valued at $390,000. Finally, Cerity Partners LLC increased its position in Nucor by 51.9% during the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after acquiring an additional 13,877 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Trading Down 0.4%

Shares of NYSE:NUE opened at $249.61 on Tuesday. The stock has a 50 day moving average of $246.74 and a 200 day moving average of $219.56. The company has a market cap of $56.63 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 0.93 and a beta of 1.89. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, topping 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 company had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter last year, the business earned $2.60 EPS. The firm’s revenue was up 23.0% compared to the same quarter last year. As a group, equities research analysts expect that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Announces Dividend

The company also recently announced 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. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor’s payout ratio is 17.86%.

Insider Activity at Nucor

In related news, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, the executive vice president owned 97,865 shares of the company’s stock, valued at $25,294,187.90. The trade was a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NUE has been the topic of several research reports. Citigroup reissued a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. Barclays upped their price target on shares of Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Seaport Research Partners increased their price objective on shares of Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. UBS Group raised their price objective on shares of Nucor from $224.00 to $256.00 and gave the stock a “neutral” rating in a report on Tuesday, July 28th. Finally, Argus boosted their target price on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus price target 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.