Caisse de depot et placement du Quebec Takes Position in Nucor Corporation $NUE

Caisse de depot et placement du Quebec purchased a new position in shares of Nucor Corporation (NYSE:NUE) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 456,413 shares of the basic materials company’s stock, valued at approximately $101,666,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Nucor in the second quarter valued at about $4,452,563,000. Norges Bank acquired a new position in Nucor during the fourth quarter worth about $609,002,000. Bank of New York Mellon Corp bought a new position in shares of Nucor in the second quarter worth about $330,902,000. Legal & General Group Plc acquired a new stake in shares of Nucor in the 2nd quarter valued at approximately $324,154,000. Finally, Deutsche Bank AG bought a new stake in shares of Nucor during the 2nd quarter valued at approximately $220,176,000. 76.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares in the company, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 18,528 shares of company stock valued at $4,793,035. 0.62% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NUE. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Morgan Stanley set a $270.00 target price on shares of Nucor in a research note on Wednesday, July 29th. BMO Capital Markets upped their price target on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Zacks Research cut Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, BNP Paribas Exane raised their price objective on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.38.

Nucor Trading Up 2.1%

NUE opened at $252.69 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The company’s 50 day moving average price is $246.35 and its two-hundred day moving average price is $218.33. The firm has a market capitalization of $57.33 billion, a price-to-earnings ratio of 20.15, a PEG ratio of 0.92 and a beta of 1.89.

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

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is currently 17.86%.

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.