USA Financial Formulas Buys 2,447 Shares of Nucor Corporation $NUE

USA Financial Formulas grew its stake in shares of Nucor Corporation (NYSE:NUE) by 292.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,285 shares of the basic materials company’s stock after acquiring an additional 2,447 shares during the period. USA Financial Formulas’ holdings in Nucor were worth $555,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Nucor by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock valued at $4,633,554,000 after purchasing an additional 144,038 shares during the period. Morgan Stanley increased its position in Nucor by 1.1% during the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after buying an additional 41,728 shares during the period. Norges Bank bought a new position in Nucor during the 4th quarter worth $609,002,000. Dimensional Fund Advisors LP lifted its holdings in shares of Nucor by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock worth $429,298,000 after buying an additional 22,718 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Nucor by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,919,883 shares of the basic materials company’s stock worth $313,152,000 after buying an additional 56,565 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NUE shares. Citigroup restated a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Nucor in a research note on Tuesday. Bank of America cut their price objective on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Morgan Stanley set a $270.00 target price on shares of Nucor in a research report on Wednesday, July 29th. Finally, Zacks Research downgraded shares of Nucor from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $273.31.

Insiders Place Their Bets

In other Nucor news, EVP Randy J. Spicer sold 2,500 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $225.00, for a total transaction of $562,500.00. Following the completion of the transaction, the executive vice president owned 20,510 shares of the company’s stock, valued at approximately $4,614,750. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the transaction, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at $20,008,704.32. This trade represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 21,028 shares of company stock valued at $5,355,535 in the last quarter. Corporate insiders own 0.62% of the company’s stock.

Nucor Stock Performance

NYSE NUE opened at $268.11 on Friday. The firm’s 50 day simple moving average is $247.15 and its 200 day simple moving average is $214.08. The firm has a market capitalization of $60.83 billion, a price-to-earnings ratio of 21.38, a P/E/G ratio of 0.60 and a beta of 1.89. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating the consensus estimate of $4.46 by $0.38. The business had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The company’s revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.60 earnings per share. As a group, research analysts expect that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio is currently 17.86%.

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.