North Dakota State Investment Board Makes New $1.29 Million Investment in Nucor Corporation $NUE

North Dakota State Investment Board bought a new position in shares of Nucor Corporation (NYSE:NUE) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,877 shares of the basic materials company’s stock, valued at approximately $1,285,000.

A number of other large investors have also recently added to or reduced their stakes in NUE. AQR Capital Management LLC boosted its position in Nucor by 580.9% during the second quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock worth $84,699,000 after purchasing an additional 557,819 shares during the period. Capital World Investors boosted its position in Nucor by 20.1% during the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after purchasing an additional 509,019 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Nucor by 169.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock worth $127,216,000 after purchasing an additional 489,950 shares during the period. M&T Bank Corp boosted its position in Nucor by 494.5% during the fourth quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company’s stock worth $70,873,000 after purchasing an additional 361,417 shares during the period. Finally, Holocene Advisors LP boosted its holdings in Nucor by 146.9% during the third quarter. Holocene Advisors LP now owns 548,911 shares of the basic materials company’s stock valued at $74,339,000 after acquiring an additional 326,572 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Daniel R. Needham sold 12,888 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $226.00, for a total value of $2,912,688.00. Following the completion of the sale, the executive vice president owned 89,724 shares in the company, valued at approximately $20,277,624. This trade represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Noah C. Hanners sold 6,472 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the completion of the sale, the executive vice president owned 50,377 shares of the company’s stock, valued at approximately $11,410,390.50. The trade was a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 69,318 shares of company stock valued at $15,672,093 in the last quarter. 0.62% of the stock is currently owned by insiders.

Nucor Stock Down 2.1%

NYSE NUE opened at $221.66 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The firm has a 50-day simple moving average of $192.62 and a 200 day simple moving average of $176.12. Nucor Corporation has a twelve month low of $106.21 and a twelve month high of $235.45. The stock has a market cap of $50.48 billion, a PE ratio of 21.95, a PEG ratio of 0.61 and a beta of 1.87.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The business had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same quarter last year, the company earned $0.77 earnings per share. The firm’s revenue was up 21.3% on a year-over-year basis. On average, research analysts forecast that Nucor Corporation will post 14.58 EPS for the current year.

Nucor declared that its board has initiated a stock buyback program on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Tuesday, March 31st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, March 31st. Nucor’s dividend payout ratio (DPR) is presently 22.18%.

Analysts Set New Price Targets

NUE has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on shares of Nucor from $213.00 to $244.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. UBS Group cut shares of Nucor from a “buy” rating to a “neutral” rating and upped their price target for the company from $190.00 to $224.00 in a report on Tuesday, April 28th. Citigroup upped their price target on shares of Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings upgraded shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. Finally, Zacks Research upgraded shares of Nucor from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $245.45.

Nucor Company 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.