Thrivent Financial for Lutherans Purchases 83,970 Shares of Nucor Corporation $NUE

Thrivent Financial for Lutherans boosted its holdings in shares of Nucor Corporation (NYSE:NUE) by 8.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,030,273 shares of the basic materials company’s stock after purchasing an additional 83,970 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Nucor were worth $139,530,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Nucor by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 29,171,068 shares of the basic materials company’s stock valued at $3,778,820,000 after purchasing an additional 211,741 shares during the last quarter. State Street Corp raised its holdings in Nucor by 3.1% during the 2nd quarter. State Street Corp now owns 12,501,779 shares of the basic materials company’s stock valued at $1,626,321,000 after buying an additional 371,911 shares during the period. Berkshire Hathaway Inc bought a new stake in Nucor in the second quarter worth $856,792,000. Norges Bank purchased a new position in Nucor during the second quarter worth $479,858,000. Finally, Nordea Investment Management AB increased its position in Nucor by 2.0% during the third quarter. Nordea Investment Management AB now owns 1,892,423 shares of the basic materials company’s stock valued at $255,155,000 after acquiring an additional 36,323 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NUE has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. Jefferies Financial Group lifted their target price on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price for the company. in a research note on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Nucor in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.36.

Insider Buying and Selling

In related news, EVP Allen C. Behr sold 5,950 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $157.89, for a total transaction of $939,445.50. Following the completion of the transaction, the executive vice president directly owned 67,711 shares in the company, valued at $10,690,889.79. The trade was a 8.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas J. Batterbee sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total value of $330,560.00. Following the completion of the sale, the executive vice president owned 17,952 shares in the company, valued at $2,967,106.56. The trade was a 10.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 14,950 shares of company stock valued at $2,319,166 over the last 90 days. Insiders own 0.46% of the company’s stock.

Nucor Stock Down 1.2%

Shares of Nucor stock opened at $177.67 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The company has a market cap of $40.66 billion, a P/E ratio of 23.56, a PEG ratio of 0.98 and a beta of 1.87. The firm’s 50 day moving average price is $166.44 and its 200-day moving average price is $150.70. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $183.32.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.18). The business had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 earnings per share. On average, sell-side analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Increases Dividend

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

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.