Legal & General Group Plc Purchases 164,021 Shares of Nucor Corporation $NUE

Legal & General Group Plc lifted its position in shares of Nucor Corporation (NYSE:NUE) by 11.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,630,986 shares of the basic materials company’s stock after acquiring an additional 164,021 shares during the quarter. Legal & General Group Plc’s holdings in Nucor were worth $220,884,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise increased its position in Nucor by 40.4% in the third quarter. Banque Cantonale Vaudoise now owns 12,120 shares of the basic materials company’s stock worth $1,642,000 after purchasing an additional 3,490 shares during the period. Russell Investments Group Ltd. lifted its position in Nucor by 12.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 143,219 shares of the basic materials company’s stock valued at $19,405,000 after purchasing an additional 15,668 shares during the period. Inceptionr LLC acquired a new position in Nucor during the 3rd quarter valued at about $834,000. PFG Advisors boosted its stake in shares of Nucor by 8.2% in the 3rd quarter. PFG Advisors now owns 1,707 shares of the basic materials company’s stock valued at $231,000 after purchasing an additional 130 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Nucor by 12.6% in the 3rd quarter. Parallel Advisors LLC now owns 2,981 shares of the basic materials company’s stock valued at $404,000 after purchasing an additional 334 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Nucor from $184.00 to $194.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. BMO Capital Markets raised their price objective on shares of Nucor from $190.00 to $196.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. The Goldman Sachs Group lifted their target price on shares of Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, January 16th. UBS Group cut shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price for the company. in a research report on Wednesday, January 28th. Finally, Wall Street Zen downgraded Nucor from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.90.

Nucor Price Performance

NYSE NUE opened at $165.64 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. The stock has a market cap of $37.73 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 0.62 and a beta of 1.83. The business has a 50 day simple moving average of $177.31 and a 200 day simple moving average of $158.35. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $196.90.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. Analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s payout ratio is currently 29.71%.

Nucor announced that its board has approved a stock buyback plan on Friday, February 20th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 9.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Nucor

In related news, EVP Kenneth Rex Query sold 7,452 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the transaction, the executive vice president directly owned 76,628 shares of the company’s stock, valued at approximately $15,020,620.56. This represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total value of $1,426,568.00. Following the transaction, the executive vice president owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,351 shares of company stock valued at $6,206,158 in the last quarter. 0.46% of the stock is currently owned by company insiders.

Nucor 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.