Unigestion Holding SA Takes $710,000 Position in Nucor Co. (NYSE:NUE)

Unigestion Holding SA acquired a new position in shares of Nucor Co. (NYSE:NUEFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,081 shares of the basic materials company’s stock, valued at approximately $710,000.

A number of other institutional investors have also added to or reduced their stakes in NUE. Compagnie Lombard Odier SCmA bought a new position in Nucor in the 4th quarter worth about $3,481,000. Nomura Asset Management Co. Ltd. grew its position in Nucor by 6.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock worth $45,665,000 after acquiring an additional 15,058 shares during the last quarter. AIA Group Ltd grew its position in Nucor by 53.2% during the 4th quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock worth $2,302,000 after acquiring an additional 4,592 shares during the last quarter. Sapient Capital LLC bought a new position in Nucor during the 4th quarter worth approximately $1,230,000. Finally, abrdn plc grew its position in Nucor by 41.7% during the 4th quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock worth $26,932,000 after acquiring an additional 45,521 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In related news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the transaction, the executive vice president now directly owns 80,902 shares in the company, valued at $15,386,751.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The disclosure for this sale can be found here. Insiders sold 32,651 shares of company stock valued at $6,283,648 over the last 90 days. Company insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NUE. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $240.00 in a report on Wednesday, March 13th. StockNews.com cut Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. JPMorgan Chase & Co. lowered their target price on Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research note on Tuesday. BMO Capital Markets lowered their target price on Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Finally, Jefferies Financial Group began coverage on Nucor in a research note on Monday, May 20th. They issued a “hold” rating and a $190.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $191.50.

Read Our Latest Report on NUE

Nucor Stock Down 2.3 %

Nucor stock opened at $157.31 on Tuesday. The firm has a market cap of $37.72 billion, a price-to-earnings ratio of 9.25 and a beta of 1.60. The stock has a fifty day simple moving average of $177.95 and a two-hundred day simple moving average of $178.74. Nucor Co. has a 12 month low of $140.07 and a 12 month high of $203.00. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUEGet Free Report) last issued its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The firm had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. During the same period in the previous year, the firm earned $4.45 EPS. The business’s revenue was down 6.6% on a year-over-year basis. Equities analysts predict that Nucor Co. will post 12.57 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, June 28th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, June 28th. Nucor’s payout ratio is currently 12.71%.

About Nucor

(Free Report)

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.

Read More

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.