Legal & General Group Plc Makes New $324.15 Million Investment in Nucor Corporation $NUE

Legal & General Group Plc bought a new position in shares of Nucor Corporation (NYSE:NUE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,455,238 shares of the basic materials company’s stock, valued at approximately $324,154,000.

Several other hedge funds have also modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Nucor in the second quarter valued at approximately $4,452,563,000. Norges Bank purchased a new position in Nucor in the fourth quarter worth $609,002,000. Bank of New York Mellon Corp purchased a new position in Nucor in the second quarter worth $330,902,000. Deutsche Bank AG acquired a new stake in Nucor in the second quarter valued at $220,176,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Nucor in the second quarter valued at $126,848,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Wolfe Research maintained its Buy rating on Nucor, reinforcing the bullish analyst view of the steelmaker. Wolfe Research Sticks to Its Buy Rating for Nucor
• Positive Sentiment: Nucor was highlighted as a beneficiary of a broad metals-sector rally. Investors are also emphasizing its electric-arc-furnace operations, which are primarily U.S.-based and less exposed to tariff-burdened imports, as well as infrastructure-driven steel demand and its 52-year record of dividend increases. Nucor On The Radar As A Broad Metals Rally Lifts The Sector
• Positive Sentiment: The breakdown in U.S.-Canada trade discussions put steel tariffs back in focus, prompting gains across U.S. steel producers, including Nucor. The market is interpreting higher trade barriers as potential support for domestic steel prices, demand, and margins. Steel Stocks Jump as U.S.-Canada Tariff Fight Escalates
• Neutral Sentiment: Wells Fargo lowered its Nucor price target from $297 to $285 but retained an Overweight rating. The reduced target tempers the bullish outlook, while still indicating expected upside from the referenced share price.
• Neutral Sentiment: Recent coverage characterized Nucor’s rebound as a recovery from tariff-related volatility. While protectionist policy may improve its competitive position, changing trade policy and retaliation risks could produce sharp price swings. Nucor Shares Rebound After Tariff-Driven Volatility

Nucor Price Performance

Shares of NYSE:NUE opened at $247.78 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The business’s fifty day moving average price is $246.35 and its two-hundred day moving average price is $217.86. The stock has a market cap of $56.22 billion, a PE ratio of 19.76, a price-to-earnings-growth ratio of 0.91 and a beta of 1.89. Nucor Corporation has a one year low of $131.32 and a one year high of $280.11.

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

Nucor Announces Dividend

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 was Tuesday, June 30th. Nucor’s dividend payout ratio is 17.86%.

Analysts Set New Price Targets

NUE has been the topic of a number of recent analyst reports. BMO Capital Markets upped their price target on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group boosted their price objective on shares of Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Morgan Stanley set a $270.00 target price on shares of Nucor in a report on Wednesday, July 29th. Finally, Argus lifted their price target on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $272.38.

Insider Buying and Selling at Nucor

In other news, COO Stephen D. Laxton sold 3,968 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the transaction, the chief operating officer owned 77,867 shares of the company’s stock, valued at $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas J. Batterbee sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 18,528 shares of company stock worth $4,793,035. Corporate insiders own 0.62% of the company’s stock.

About Nucor

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.