Bank of New York Mellon Corp Sells 150,724 Shares of Nucor Corporation $NUE

Bank of New York Mellon Corp lessened its stake in shares of Nucor Corporation (NYSE:NUE) by 9.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,445,909 shares of the basic materials company’s stock after selling 150,724 shares during the period. Bank of New York Mellon Corp’s holdings in Nucor were worth $187,303,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of NUE. Diamond Hill Capital Management Inc. bought a new position in shares of Nucor in the 1st quarter valued at $194,804,000. Nuveen LLC bought a new position in shares of Nucor in the 1st quarter valued at $141,216,000. Vanguard Group Inc. increased its stake in shares of Nucor by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company’s stock valued at $3,484,965,000 after purchasing an additional 745,671 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Nucor by 355.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 539,310 shares of the basic materials company’s stock valued at $72,327,000 after purchasing an additional 420,970 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Nucor by 18.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company’s stock valued at $277,920,000 after purchasing an additional 355,364 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NUE shares. Citigroup lifted their price target on Nucor from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Morgan Stanley lifted their price target on Nucor from $152.00 to $165.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group reduced their price objective on Nucor from $182.00 to $173.00 and set a “buy” rating on the stock in a research report on Monday, September 22nd. Finally, UBS Group boosted their price objective on Nucor from $165.00 to $168.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.30.

Nucor Stock Up 0.6%

Shares of NUE opened at $145.20 on Thursday. The company has a market capitalization of $33.33 billion, a PE ratio of 20.39, a PEG ratio of 1.14 and a beta of 1.80. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $170.52. The stock’s 50-day moving average price is $140.73 and its two-hundred day moving average price is $133.13. The company has a current ratio of 2.77, a quick ratio of 1.51 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last announced its earnings results on Monday, October 27th. The basic materials company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.30 by $0.33. The firm had revenue of $8.52 billion for the quarter, compared to the consensus estimate of $8.27 billion. Nucor had a return on equity of 7.80% and a net margin of 5.18%.The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 EPS. Nucor has set its Q4 2025 guidance at -2.630 EPS. On average, analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.20 annualized dividend and a yield of 1.5%. Nucor’s payout ratio is presently 30.90%.

Insider Activity

In other news, EVP Daniel R. Needham sold 7,200 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $146.00, for a total value of $1,051,200.00. Following the transaction, the executive vice president directly owned 92,179 shares of the company’s stock, valued at $13,458,134. The trade was a 7.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kenneth Rex Query sold 10,000 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the completion of the transaction, the executive vice president directly owned 84,080 shares in the company, valued at $12,183,192. This represents a 10.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 34,333 shares of company stock worth $5,075,189. 0.71% of the stock is owned by corporate insiders.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.