SEB Asset Management AB Makes New Investment in Nucor Corporation $NUE

SEB Asset Management AB purchased a new stake in Nucor Corporation (NYSE:NUE) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 51,301 shares of the basic materials company’s stock, valued at approximately $8,675,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its position in shares of Nucor by 745.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock worth $13,614,000 after purchasing an additional 73,588 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Nucor in the 4th quarter worth $1,989,000. Oak Harvest Investment Services purchased a new position in Nucor during the 4th quarter worth $6,329,000. SG Americas Securities LLC grew its stake in Nucor by 123.5% during the 4th quarter. SG Americas Securities LLC now owns 85,474 shares of the basic materials company’s stock worth $13,942,000 after buying an additional 47,235 shares during the last quarter. Finally, California Public Employees Retirement System increased its position in Nucor by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock valued at $86,297,000 after buying an additional 82,668 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Seaport Research Partners increased their price target on Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. Weiss Ratings upgraded shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and upped their price objective for the company from $190.00 to $224.00 in a report on Tuesday, April 28th. BNP Paribas Exane increased their price objective on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, Zacks Research cut shares of Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $266.31.

Nucor Stock Performance

Shares of NUE opened at $233.26 on Wednesday. The stock has a 50-day moving average of $239.26 and a two-hundred day moving average of $202.86. Nucor Corporation has a one year low of $131.32 and a one year high of $270.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The stock has a market cap of $53.12 billion, a P/E ratio of 23.09, a P/E/G ratio of 0.53 and a beta of 1.91.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.77 earnings per share. As a group, research analysts predict that Nucor Corporation will post 17.68 EPS for the current year.

Nucor Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be given a $0.56 dividend. 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 currently 22.18%.

Insider Buying and Selling

In other news, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction 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 sale, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David A. Sumoski sold 33,068 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $225.67, for a total transaction of $7,462,455.56. Following the transaction, the executive vice president directly owned 243,339 shares of the company’s stock, valued at approximately $54,914,312.13. This trade represents a 11.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,378 shares of company stock worth $18,963,930 in the last quarter. 0.62% of the stock is currently 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.