Unigestion Holding SA Buys New Shares in Nucor Co. (NYSE:NUE)

Unigestion Holding SA bought a new stake in shares of Nucor Co. (NYSE:NUEFree Report) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 4,081 shares of the basic materials company’s stock, valued at approximately $710,000.

Several other large investors have also recently bought and sold shares of NUE. Compagnie Lombard Odier SCmA acquired a new position in shares of Nucor in the 4th quarter valued at $3,481,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Nucor by 6.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock valued at $45,665,000 after buying an additional 15,058 shares in the last quarter. AIA Group Ltd raised its stake in shares of Nucor by 53.2% in the 4th quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after buying an additional 4,592 shares in the last quarter. Sapient Capital LLC acquired a new position in shares of Nucor in the 4th quarter valued at $1,230,000. Finally, abrdn plc raised its stake in shares of Nucor by 41.7% in the 4th quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock valued at $26,932,000 after buying an additional 45,521 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NUE. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating on the stock in a report on Tuesday. Citigroup raised shares of 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. Jefferies Financial Group started coverage on shares of Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective on the stock. Finally, BMO Capital Markets decreased their price objective on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $191.50.

Get Our Latest Research Report on Nucor

Insiders Place Their Bets

In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the sale, the executive vice president now directly owns 80,902 shares in the company, valued at approximately $15,386,751.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the sale, 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the sale, the executive vice president now owns 120,738 shares in the company, valued at $23,351,936.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,651 shares of company stock worth $6,283,648. Company insiders own 0.64% of the company’s stock.

Nucor Stock Down 2.3 %

Nucor stock opened at $157.31 on Tuesday. The company’s 50 day simple moving average is $177.95 and its 200 day simple moving average is $178.74. Nucor Co. has a fifty-two week low of $140.07 and a fifty-two week high of $203.00. The firm has a market capitalization of $37.72 billion, a price-to-earnings ratio of 9.25 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48.

Nucor (NYSE:NUEGet Free Report) last released its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share 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 for the quarter, compared to the consensus estimate of $8.26 billion. During the same period in the previous year, the business earned $4.45 EPS. The firm’s revenue was down 6.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nucor Co. will post 12.57 EPS for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, June 28th. This represents a $2.16 annualized dividend and a yield of 1.37%. Nucor’s dividend payout ratio (DPR) 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.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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