J. Safra Sarasin Holding AG Boosts Holdings in Nucor Corporation $NUE

J. Safra Sarasin Holding AG raised its position in shares of Nucor Corporation (NYSE:NUE) by 48.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,884 shares of the basic materials company’s stock after acquiring an additional 4,830 shares during the period. J. Safra Sarasin Holding AG’s holdings in Nucor were worth $2,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Berkshire Hathaway Inc bought a new position in Nucor during the 2nd quarter valued at about $856,792,000. Norges Bank bought a new position in shares of Nucor during the second quarter valued at approximately $479,858,000. Greenwich Wealth Management LLC purchased a new stake in shares of Nucor in the second quarter worth approximately $123,145,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Nucor in the second quarter worth approximately $105,435,000. Finally, AQR Capital Management LLC lifted its stake in shares of Nucor by 580.9% during the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock worth $84,699,000 after acquiring an additional 557,819 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on NUE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. Wells Fargo & Company set a $176.00 price target on shares of Nucor in a report on Thursday, December 18th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $180.00 price target (up previously from $165.00) on shares of Nucor in a research note on Friday, January 9th. BMO Capital Markets reissued an “outperform” rating on shares of Nucor in a research report on Wednesday, October 29th. Finally, Wall Street Zen lowered shares of Nucor from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $178.64.

Nucor Stock Down 2.3%

Nucor stock opened at $173.60 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.77 and a debt-to-equity ratio of 0.30. The firm has a market cap of $39.73 billion, a P/E ratio of 23.02, a P/E/G ratio of 0.97 and a beta of 1.87. The business has a fifty day moving average of $164.79 and a two-hundred day moving average of $150.00. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $183.32.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). Nucor had a return on equity of 8.32% and a net margin of 5.37%.The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the firm posted $1.22 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. On average, analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be issued a $0.56 dividend. This is an increase from Nucor’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 31st. Nucor’s dividend payout ratio is presently 31.46%.

Insiders Place Their Bets

In other Nucor news, EVP John J. Hollatz sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $149.88, for a total value of $1,049,160.00. Following the completion of the sale, the executive vice president owned 96,550 shares of the company’s stock, valued at approximately $14,470,914. This trade represents a 6.76% 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, EVP Allen C. Behr sold 5,950 shares of the company’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $157.89, for a total transaction of $939,445.50. Following the transaction, the executive vice president owned 67,711 shares in the company, valued at approximately $10,690,889.79. This trade represents a 8.08% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 25,995 shares of company stock valued at $3,990,634. 0.71% of the stock is owned by corporate insiders.

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.