3,243 Shares in Nucor Corporation $NUE Acquired by MQS Management LLC

MQS Management LLC purchased a new stake in Nucor Corporation (NYSE:NUE) during the first quarter, HoldingsChannel reports. The firm purchased 3,243 shares of the basic materials company’s stock, valued at approximately $548,000.

Several other hedge funds have also added to or reduced their stakes in the business. Strive Financial Group LLC acquired a new stake in Nucor during the fourth quarter worth approximately $27,000. Stance Capital LLC acquired a new position in shares of Nucor in the third quarter valued at approximately $25,000. Mcguire Capital Advisors Inc. bought a new position in shares of Nucor during the fourth quarter worth approximately $32,000. Motiv8 Investments LLC bought a new position in shares of Nucor during the fourth quarter worth approximately $32,000. Finally, Reflection Asset Management acquired a new stake in Nucor during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling

In related news, EVP Allen C. Behr sold 10,096 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the sale, the executive vice president owned 62,871 shares in the company, valued at approximately $14,213,875.68. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares in the company, valued at $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is owned by company insiders.

Nucor Stock Performance

NYSE:NUE opened at $222.72 on Wednesday. The company has a market cap of $50.72 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 0.54 and a beta of 1.88. Nucor Corporation has a fifty-two week low of $128.46 and a fifty-two week high of $270.90. 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 stock has a fifty day moving average price of $237.13 and a 200-day moving average price of $195.96.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The company had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.Nucor’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the business earned $0.77 earnings per share. As a group, equities analysts anticipate that Nucor Corporation will post 17 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of research reports. BMO Capital Markets upped their price objective on Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Wells Fargo & Company decreased their price target on shares of Nucor from $292.00 to $283.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Bank of America raised their price target on shares of Nucor from $265.00 to $290.00 in a research report on Friday, June 12th. Finally, CICC Research started coverage on shares of Nucor in a research note on Monday, May 25th. They issued an “outperform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $266.92.

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.