Mirae Asset Global Investments Co. Ltd. Has $5.05 Million Position in Nucor Corporation $NUE

Mirae Asset Global Investments Co. Ltd. grew its stake in Nucor Corporation (NYSE:NUE) by 8.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,274 shares of the basic materials company’s stock after buying an additional 2,888 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Nucor were worth $5,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. IMA Advisory Services Inc. lifted its position in shares of Nucor by 51.4% in the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 75 shares during the period. Elevation Point Wealth Partners LLC bought a new position in Nucor during the second quarter worth $39,000. Geneos Wealth Management Inc. raised its stake in 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 buying an additional 153 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in Nucor by 45.5% in the third quarter. Salomon & Ludwin LLC now owns 320 shares of the basic materials company’s stock valued at $44,000 after buying an additional 100 shares during the period. Finally, Root Financial Partners LLC bought a new stake in Nucor during the third quarter valued at $44,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Down 1.2%

NYSE:NUE opened at $177.67 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. Nucor Corporation has a one year low of $97.59 and a one year high of $183.32. The company has a market cap of $40.66 billion, a PE ratio of 23.56, a PEG ratio of 0.97 and a beta of 1.86. The firm has a 50-day moving average of $166.44 and a 200-day moving average of $150.79.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. Nucor’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 EPS. As a group, equities research analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.56 per share. This is a boost from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date is Wednesday, December 31st. This represents a $2.24 annualized dividend and a yield of 1.3%. Nucor’s dividend payout ratio (DPR) is 29.71%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NUE shares. Morgan Stanley reissued an “equal weight” rating and issued a $180.00 price objective (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Seaport Research Partners raised their target price on Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday. Wall Street Zen upgraded Nucor from a “hold” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group raised their price target on shares of Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average target price of $179.36.

Insiders Place Their Bets

In other news, EVP Allen C. Behr sold 5,950 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $157.89, for a total value of $939,445.50. Following the completion of the sale, the executive vice president owned 67,711 shares in the company, valued at $10,690,889.79. This represents a 8.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas J. Batterbee sold 2,000 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total transaction of $330,560.00. Following the completion of the sale, the executive vice president owned 17,952 shares of the company’s stock, valued at approximately $2,967,106.56. This represents a 10.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 14,950 shares of company stock valued at $2,319,166 in the last three months. 0.71% of the stock is currently owned by insiders.

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.