Nucor Corporation $NUE Stock Holdings Boosted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its position in shares of Nucor Corporation (NYSE:NUE) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 66,062 shares of the basic materials company’s stock after purchasing an additional 3,321 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Nucor were worth $11,171,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of NUE. Stance Capital LLC acquired a new stake in shares of Nucor in the third quarter valued at $25,000. Strive Financial Group LLC acquired a new position in Nucor during the fourth quarter worth about $27,000. Motiv8 Investments LLC bought a new stake in Nucor in the fourth quarter worth about $32,000. Bartlett & CO. Wealth Management LLC raised its position in Nucor by 49.2% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. bought a new position in shares of Nucor during the 4th quarter valued at about $32,000. Institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, EVP Noah C. Hanners sold 6,472 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $226.50, for a total value of $1,465,908.00. Following the completion of the sale, the executive vice president owned 50,377 shares of the company’s stock, valued at $11,410,390.50. This trade represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP David A. Sumoski sold 33,068 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $225.67, for a total value of $7,462,455.56. Following the completion of the sale, the executive vice president directly owned 243,339 shares of the company’s stock, valued at approximately $54,914,312.13. This trade represents a 11.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. BNP Paribas Exane lifted their price objective on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. KeyCorp raised shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 target price for the company in a research note on Wednesday, June 24th. The Goldman Sachs Group raised their target price on shares of Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Zacks Research lowered shares of Nucor from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Seaport Research Partners upped their price target on Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $266.31.

Nucor Price Performance

NUE stock opened at $247.81 on Friday. Nucor Corporation has a one year low of $131.32 and a one year high of $270.90. The firm has a 50-day moving average of $239.91 and a two-hundred day moving average of $204.18. The firm has a market capitalization of $56.44 billion, a PE ratio of 24.54, a P/E/G ratio of 0.57 and a beta of 1.91. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. During the same period last year, the firm posted $0.77 earnings per share. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, analysts forecast that Nucor Corporation will post 17.53 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

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.