Nucor Corporation $NUE Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. lessened its holdings in Nucor Corporation (NYSE:NUE) by 82.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,603 shares of the basic materials company’s stock after selling 31,553 shares during the period. Meeder Asset Management Inc.’s holdings in Nucor were worth $1,117,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of NUE. Integrated Wealth Concepts LLC increased its position in shares of Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after buying an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Nucor during the 1st quarter valued at approximately $259,000. Geneos Wealth Management Inc. lifted its position in shares of Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after buying an additional 153 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Nucor in the 2nd quarter valued at $390,000. Finally, Cerity Partners LLC grew its stake in Nucor by 51.9% in the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after acquiring an additional 13,877 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Transactions at Nucor

In related news, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the transaction, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel R. Needham sold 12,888 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the sale, the executive vice president directly owned 89,724 shares of the company’s stock, valued at approximately $20,277,624. This represents a 12.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 82,378 shares of company stock valued at $18,963,930. Company insiders own 0.62% of the company’s stock.

Nucor Stock Down 2.4%

Shares of NUE opened at $230.86 on Tuesday. The stock has a 50 day moving average price of $239.19 and a 200 day moving average price of $202.36. Nucor Corporation has a one year low of $131.32 and a one year high of $270.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The stock has a market capitalization of $52.58 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 0.54 and a beta of 1.91.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same quarter last year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities research analysts forecast that Nucor Corporation will post 17.68 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NUE shares. Jefferies Financial Group upped their price objective on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings upgraded shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 14th. BNP Paribas Exane lifted their target price on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Citigroup reissued a “positive” rating on shares of Nucor in a research note on Wednesday, July 15th. Finally, BMO Capital Markets upped their price target on shares of Nucor from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $266.31.

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.