Cibc World Market Inc. Takes Position in Nucor Corporation $NUE

Cibc World Market Inc. purchased a new stake in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,700 shares of the basic materials company’s stock, valued at approximately $3,943,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NUE. RKL Wealth Management LLC increased its stake in Nucor by 0.9% during the 1st quarter. RKL Wealth Management LLC now owns 5,318 shares of the basic materials company’s stock valued at $899,000 after purchasing an additional 48 shares in the last quarter. Focus Financial Network Inc. increased its position in shares of Nucor by 3.6% in the 2nd quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company’s stock valued at $316,000 after acquiring an additional 49 shares during the period. Empirical Asset Management LLC raised its stake in Nucor by 2.6% in the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock worth $347,000 after acquiring an additional 54 shares during the last quarter. Moody National Bank Trust Division raised its stake in Nucor by 4.6% in the 2nd quarter. Moody National Bank Trust Division now owns 1,396 shares of the basic materials company’s stock worth $311,000 after acquiring an additional 62 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC lifted its position in Nucor by 49.2% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 63 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction that occurred on 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 $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 18,528 shares of company stock valued at $4,793,035. 0.62% of the stock is currently owned by corporate insiders.

Nucor Stock Performance

NYSE 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. The company has a market cap of $57.33 billion, a P/E ratio of 20.15, a P/E/G ratio of 0.92 and a beta of 1.89. The stock has a 50-day moving average of $246.35 and a two-hundred day moving average of $218.33. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11.

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

Nucor Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on NUE. UBS Group increased their price objective on Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. lifted their price target on Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. The Goldman Sachs Group increased their target price on Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Morgan Stanley set a $270.00 target price on shares of Nucor in a research report on Wednesday, July 29th. Finally, Barclays raised their price target on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average price target of $272.38.

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.