Aberdeen Group plc Has $26.62 Million Stock Position in Nucor Corporation $NUE

Aberdeen Group plc raised its holdings in shares of Nucor Corporation (NYSE:NUE) by 49.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 195,603 shares of the basic materials company’s stock after acquiring an additional 64,642 shares during the quarter. Aberdeen Group plc owned approximately 0.09% of Nucor worth $26,618,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in NUE. IMA Advisory Services Inc. lifted its position in Nucor by 51.4% during the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after buying an additional 75 shares in the last quarter. AXS Investments LLC acquired a new stake in shares of Nucor in the third quarter valued at about $37,000. Vision Financial Markets LLC increased its position in shares of Nucor by 281.7% in the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in Nucor during the second quarter worth about $39,000. Finally, Geneos Wealth Management Inc. boosted its position in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NUE shares. Wall Street Zen raised Nucor from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Citigroup boosted their target price on shares of Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Seaport Research Partners upped their price target on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. BNP Paribas Exane increased their price target on shares of Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $180.00 price objective (up previously from $165.00) on shares of Nucor in a research report on Friday, January 9th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.36.

Nucor Trading Up 0.1%

Shares of NYSE:NUE opened at $183.34 on Wednesday. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $196.90. The business has a 50 day moving average of $173.27 and a 200-day moving average of $154.63. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The stock has a market cap of $41.96 billion, a PE ratio of 24.32, a P/E/G ratio of 0.66 and a beta of 1.86.

Nucor (NYSE:NUE) last released its quarterly 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). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the previous year, the business posted $1.22 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. This is a boost from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date was Wednesday, December 31st. Nucor’s dividend payout ratio is currently 29.71%.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 3,881 shares of the firm’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $178.00, for a total transaction of $690,818.00. Following the transaction, the executive vice president directly owned 88,298 shares of the company’s stock, valued at approximately $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total value of $1,426,568.00. Following the completion of the sale, the executive vice president owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 34,351 shares of company stock valued at $6,206,158 in the last three months. 0.71% of the stock is 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.