Nucor Corporation $NUE Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in shares of Nucor Corporation (NYSE:NUE) by 1.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 282,846 shares of the basic materials company’s stock after buying an additional 4,205 shares during the period. Principal Financial Group Inc.’s holdings in Nucor were worth $47,829,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC grew its position in shares of Nucor by 21.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 568 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Nucor in the 1st quarter worth about $259,000. Geneos Wealth Management Inc. boosted its position in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 153 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Nucor during the second quarter worth approximately $390,000. Finally, Cerity Partners LLC grew its holdings in Nucor by 51.9% in the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after purchasing an additional 13,877 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling

In other Nucor news, EVP Noah C. Hanners sold 6,472 shares of Nucor stock in a transaction on Friday, May 1st. The shares were sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the sale, the executive vice president owned 50,377 shares of the company’s stock, valued at $11,410,390.50. The trade was a 11.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction on Monday, May 4th. The stock was sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the sale, the executive vice president directly owned 62,871 shares in the company, valued at approximately $14,213,875.68. This trade represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 82,378 shares of company stock worth $18,963,930 in the last ninety days. Company insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on NUE shares. Morgan Stanley boosted their price objective on Nucor from $227.00 to $258.00 and gave the company an “equal weight” rating in a research report on Monday, June 22nd. UBS Group lowered Nucor from a “buy” rating to a “neutral” rating and increased their target price for the company from $190.00 to $224.00 in a research report on Tuesday, April 28th. BNP Paribas Exane lifted their price target on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Citigroup reissued a “positive” rating on shares of Nucor in a report on Wednesday. Finally, The Goldman Sachs Group increased their price objective on shares of Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $266.31.

Nucor Price Performance

NYSE:NUE opened at $236.77 on Friday. The stock has a 50 day moving average of $239.20 and a two-hundred day moving average of $201.64. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $270.90. The firm has a market cap of $53.92 billion, a P/E ratio of 23.44, a price-to-earnings-growth ratio of 0.54 and a beta of 1.91. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 earnings per share. On average, analysts expect that Nucor Corporation will post 17.68 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s dividend payout ratio is currently 22.18%.

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.