Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 19,900 Shares of Nucor Corporation $NUE

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Nucor Corporation (NYSE:NUE) by 26.6% in the 1st quarter, Holdings Channel reports. The firm owned 94,686 shares of the basic materials company’s stock after acquiring an additional 19,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Nucor were worth $16,011,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Integrated Wealth Concepts LLC lifted its stake in Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nucor during the first quarter valued at approximately $259,000. Geneos Wealth Management Inc. boosted its stake in shares of Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 153 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Nucor during the second quarter valued at about $390,000. Finally, Cerity Partners LLC raised its holdings in shares of Nucor by 51.9% during the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after acquiring an additional 13,877 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NUE. Zacks Research cut shares of Nucor from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. 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 report on Wednesday, June 24th. UBS Group cut Nucor from a “buy” rating to a “neutral” rating and raised their target price for the stock from $190.00 to $224.00 in a research report on Tuesday, April 28th. The Goldman Sachs Group boosted their price target on Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $266.92.

Nucor Price Performance

NUE stock opened at $220.61 on Friday. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $270.90. The firm has a market capitalization of $50.24 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 0.50 and a beta of 1.91. The company has a fifty day simple moving average of $237.84 and a two-hundred day simple moving average of $196.89. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the prior year, the company earned $0.77 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. Analysts anticipate that Nucor Corporation will post 17.68 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.56 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Nucor’s dividend payout ratio is 22.18%.

Insiders Place Their Bets

In other news, insider Michael D. Keller sold 4,554 shares of Nucor stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $225.86, for a total value of $1,028,566.44. Following the completion of the transaction, the insider owned 16,834 shares in the company, valued at approximately $3,802,127.24. The trade was a 21.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is currently owned by company insiders.

Nucor 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.