Tocqueville Asset Management L.P. Takes Position in Nucor Corporation $NUE

Tocqueville Asset Management L.P. bought a new position in Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 111,734 shares of the basic materials company’s stock, valued at approximately $24,889,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bell Investment Advisors Inc purchased a new position in shares of Nucor in the second quarter valued at about $28,000. Strive Financial Group LLC bought a new position in shares of Nucor during the fourth quarter valued at about $27,000. Stance Capital LLC purchased a new stake in shares of Nucor during the third quarter worth about $25,000. Bartlett & CO. Wealth Management LLC boosted its holdings in shares of Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 63 shares during the period. Finally, Mcguire Capital Advisors Inc. bought a new stake in shares of Nucor in the fourth quarter worth about $32,000. 76.48% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the sale, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. The trade was a 19.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the company’s 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 sale, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 18,528 shares of company stock worth $4,793,035. Corporate insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of research analyst reports. Barclays boosted their price target on Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Wells Fargo & Company lifted their price objective on Nucor from $283.00 to $297.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Zacks Research downgraded Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. BMO Capital Markets raised their price target on Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Finally, Citigroup reiterated a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and an average target price of $273.31.

Nucor Stock Down 5.9%

NUE stock opened at $248.72 on Thursday. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The company has a market capitalization of $56.43 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 0.59 and a beta of 1.89. The business’s 50 day moving average price is $247.72 and its two-hundred day moving average price is $216.16. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter last year, the business posted $2.60 EPS. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.9%. Nucor’s dividend payout ratio (DPR) 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.