MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 11,618 Shares of Nucor Corporation $NUE

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Nucor Corporation (NYSE:NUE) by 0.7% during the third quarter, Holdings Channel.com reports. The firm owned 1,600,045 shares of the basic materials company’s stock after buying an additional 11,618 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Nucor were worth $216,695,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. AXS Investments LLC acquired a new stake in Nucor in the 3rd quarter worth about $37,000. Vision Financial Markets LLC grew its position in shares of Nucor by 281.7% during the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Nucor during the 2nd quarter worth approximately $39,000. Geneos Wealth Management Inc. increased its holdings 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 purchasing an additional 153 shares during the period. Finally, Caitlin John LLC acquired a new stake in shares of Nucor in the third quarter valued at approximately $41,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Price Performance

NUE stock opened at $162.78 on Tuesday. The stock has a market cap of $37.08 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 0.58 and a beta of 1.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The company has a 50 day simple moving average of $177.09 and a 200 day simple moving average of $158.67. Nucor Corporation has a 1 year low of $97.59 and a 1 year 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 (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the company posted $1.22 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Research analysts anticipate that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor announced that its Board of Directors has authorized a stock repurchase program on Friday, February 20th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 9.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s dividend payout ratio (DPR) is presently 29.71%.

Insider Transactions at Nucor

In other news, EVP Thomas J. Batterbee sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total value of $330,560.00. Following the completion of the transaction, the executive vice president owned 17,952 shares of the company’s stock, valued at $2,967,106.56. This represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Allen C. Behr sold 7,568 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the completion of 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 SEC filing for this sale provides additional information. In the last three months, insiders have sold 34,351 shares of company stock valued at $6,206,158. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NUE shares. BNP Paribas Exane increased their price target on Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $180.00 price objective (up from $165.00) on shares of Nucor in a report on Friday, January 9th. JPMorgan Chase & Co. upped their target price on Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. BMO Capital Markets increased their target price on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Finally, Wells Fargo & Company boosted their price target on Nucor from $184.00 to $194.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $188.00.

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.