Meeder Advisory Services Inc. Purchases New Stake in Nucor Corporation $NUE

Meeder Advisory Services Inc. acquired a new position in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 7,484 shares of the basic materials company’s stock, valued at approximately $1,667,000.

A number of other large investors have also recently bought and sold shares of NUE. Stance Capital LLC acquired a new position in shares of Nucor in the 3rd quarter valued at approximately $25,000. Strive Financial Group LLC bought a new stake in shares of Nucor during the 4th quarter worth approximately $27,000. Bell Investment Advisors Inc acquired a new stake in shares of Nucor during the 2nd quarter worth approximately $28,000. Motiv8 Investments LLC bought a new position in Nucor in the fourth quarter valued at approximately $32,000. Finally, Bartlett & CO. Wealth Management LLC increased its stake in Nucor by 49.2% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 63 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NUE has been the subject of several recent analyst reports. CICC Research assumed coverage on Nucor in a research note on Monday, May 25th. They set an “outperform” rating for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Nucor in a report on Tuesday, August 11th. Seaport Research Partners upped their price objective on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Morgan Stanley set a $270.00 price objective on Nucor in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group lifted their target price on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.31.

Nucor Stock Performance

NYSE NUE opened at $248.72 on Thursday. The firm’s fifty day moving average price is $247.72 and its two-hundred day moving average price is $216.16. The stock has a market cap of $56.43 billion, a PE ratio of 19.83, a PEG ratio of 0.59 and a beta of 1.89. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same period in the prior year, the company earned $2.60 EPS. Nucor’s revenue was up 23.0% compared to the same quarter last year. On average, equities analysts expect that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor’s dividend payout ratio is presently 17.86%.

Insider Buying and Selling at Nucor

In other news, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the sale, the executive vice president directly owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares in the company, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is currently owned by insiders.

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.