52,863 Shares in Nucor Corporation $NUE Bought by AG2R LA Mondiale Gestion D Actifs

AG2R LA Mondiale Gestion D Actifs acquired a new position in Nucor Corporation (NYSE:NUE) during the 1st quarter, HoldingsChannel reports. The fund acquired 52,863 shares of the basic materials company’s stock, valued at approximately $6,362,000.

Other institutional investors have also recently made changes to their positions in the company. Putney Financial Group LLC purchased a new stake in Nucor in the fourth quarter valued at approximately $29,000. MV Capital Management Inc. boosted its stake in Nucor by 73.5% in the first quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 119 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after buying an additional 153 shares during the period. Fourth Dimension Wealth LLC acquired a new stake in shares of Nucor during the fourth quarter worth about $41,000. Finally, Spirit of America Management Corp NY purchased a new position in Nucor during the first quarter worth about $48,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. BMO Capital Markets raised shares of Nucor from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. UBS Group reduced their target price on shares of Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. JPMorgan Chase & Co. increased their target price on shares of Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Morgan Stanley boosted their price target on shares of Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, June 20th. Finally, Wells Fargo & Company upgraded shares of Nucor to a “hold” rating in a report on Thursday, August 14th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $155.78.

Nucor Trading Up 1.4%

Shares of NYSE NUE opened at $143.82 on Friday. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52. The company has a market cap of $33.01 billion, a PE ratio of 25.96, a P/E/G ratio of 0.90 and a beta of 1.76. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $143.05 and a two-hundred day moving average of $128.42.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The company had revenue of $8.46 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same quarter in the previous year, the company earned $2.68 EPS. Nucor’s revenue was up 4.7% on a year-over-year basis. As a group, equities analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.20 annualized dividend and a yield of 1.5%. Nucor’s payout ratio is 39.71%.

Insider Buying and Selling

In other news, insider Michael D. Keller sold 6,088 shares of Nucor stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $148.41, for a total value of $903,520.08. Following the completion of the sale, the insider directly owned 22,464 shares in the company, valued at approximately $3,333,882.24. The trade was a 21.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth Rex Query sold 10,000 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the transaction, the executive vice president directly owned 84,080 shares of the company’s stock, valued at approximately $12,183,192. This trade represents a 10.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,397 shares of company stock worth $6,763,814. 0.46% of the stock is owned by corporate insiders.

Nucor Profile

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.