Liberty One Investment Management LLC Buys 3,091 Shares of Nucor Corporation $NUE

Liberty One Investment Management LLC increased its stake in shares of Nucor Corporation (NYSE:NUE) by 215.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,523 shares of the basic materials company’s stock after buying an additional 3,091 shares during the period. Liberty One Investment Management LLC’s holdings in Nucor were worth $765,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in 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 purchased a new stake in Nucor in the 4th quarter valued at $1,989,000. California Public Employees Retirement System increased its stake in shares of Nucor by 19.3% in the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock worth $86,297,000 after acquiring an additional 82,668 shares during the last quarter. Oak Harvest Investment Services purchased a new position in shares of Nucor during the 4th quarter worth $6,329,000. Finally, SG Americas Securities LLC raised its holdings in shares of 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 acquiring an additional 47,235 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity

In related news, EVP Daniel R. Needham sold 12,888 shares of Nucor stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.00, for a total value of $2,912,688.00. Following the completion of the sale, the executive vice president owned 89,724 shares in the company, valued at approximately $20,277,624. This trade represents a 12.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Noah C. Hanners sold 6,472 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.50, for a total value of $1,465,908.00. Following the completion of the sale, the executive vice president directly owned 50,377 shares in the company, valued at approximately $11,410,390.50. The trade was a 11.38% 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 three months. 0.62% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NUE. Citigroup reissued a “positive” rating on shares of Nucor in a report on Wednesday, July 15th. Jefferies Financial Group lifted their target price on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. CICC Research assumed coverage on shares of Nucor in a report on Monday, May 25th. They issued an “outperform” rating on the stock. BNP Paribas Exane increased 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. Finally, Morgan Stanley raised their price target on shares of Nucor from $227.00 to $258.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $266.31.

Nucor Stock Up 2.0%

Shares of NYSE:NUE opened at $240.63 on Friday. The company has a market capitalization of $54.80 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 0.54 and a beta of 1.91. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $270.90. The business has a 50-day moving average price of $239.49 and a 200 day moving average price of $203.87. 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 posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. During the same quarter in the prior year, the company posted $0.77 earnings per share. Nucor’s revenue for the quarter was up 21.3% compared to the same quarter last year. Sell-side analysts expect that Nucor Corporation will post 17.53 EPS for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor’s dividend payout ratio (DPR) is presently 22.18%.

About Nucor

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.