Nucor Corporation (NUE) Stake Increased by Axa

Axa grew its position in Nucor Corporation (NYSE:NUE) by 112.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 84,299 shares of the basic materials company’s stock after buying an additional 44,702 shares during the period. Axa’s holdings in Nucor Corporation were worth $4,878,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Nucor Corporation by 17.3% in the 1st quarter. Vanguard Group Inc. now owns 25,254,158 shares of the basic materials company’s stock valued at $1,508,179,000 after buying an additional 3,729,281 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Nucor Corporation by 1,900.5% in the 1st quarter. BlackRock Inc. now owns 21,654,414 shares of the basic materials company’s stock valued at $1,293,202,000 after buying an additional 20,571,970 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Nucor Corporation by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,118,653 shares of the basic materials company’s stock valued at $245,972,000 after buying an additional 14,091 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Nucor Corporation by 11.7% in the 1st quarter. Geode Capital Management LLC now owns 3,715,181 shares of the basic materials company’s stock valued at $221,600,000 after buying an additional 389,241 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Nucor Corporation by 53.6% in the 1st quarter. AQR Capital Management LLC now owns 2,513,579 shares of the basic materials company’s stock valued at $150,111,000 after buying an additional 877,194 shares in the last quarter. Institutional investors and hedge funds own 75.00% of the company’s stock.

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NUE has been the topic of a number of recent analyst reports. Longbow Research restated a “buy” rating and issued a $66.00 price target on shares of Nucor Corporation in a report on Thursday, July 27th. Berenberg Bank restated a “buy” rating and issued a $77.50 price target on shares of Nucor Corporation in a report on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and issued a $68.00 price target on shares of Nucor Corporation in a report on Wednesday, July 19th. Morgan Stanley restated a “buy” rating on shares of Nucor Corporation in a report on Tuesday, July 18th. Finally, Bank of America Corporation restated a “buy” rating and issued a $73.00 price target on shares of Nucor Corporation in a report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $68.47.

Shares of Nucor Corporation (NUE) opened at 53.50 on Friday. The firm’s 50-day moving average is $55.44 and its 200 day moving average is $58.47. Nucor Corporation has a 52 week low of $45.30 and a 52 week high of $68.00. The firm has a market capitalization of $17.09 billion, a PE ratio of 15.02 and a beta of 1.53.

Nucor Corporation (NYSE:NUE) last posted its quarterly earnings data on Thursday, July 20th. The basic materials company reported $1.00 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.06). The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. Nucor Corporation had a net margin of 6.08% and a return on equity of 13.39%. Nucor Corporation’s revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 earnings per share. On average, equities analysts forecast that Nucor Corporation will post $4.08 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, September 29th will be issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s payout ratio is currently 43.77%.

In other news, Chairman John J. Ferriola sold 14,941 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $60.17, for a total value of $898,999.97. Following the completion of the sale, the chairman now directly owns 361,847 shares of the company’s stock, valued at $21,772,333.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David A. Sumoski sold 2,537 shares of the stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $61.66, for a total value of $156,431.42. Following the completion of the sale, the insider now directly owns 62,434 shares of the company’s stock, valued at $3,849,680.44. The disclosure for this sale can be found here. Insiders sold 20,104 shares of company stock valued at $1,213,595 over the last three months. Corporate insiders own 0.70% of the company’s stock.

Nucor Corporation Company Profile

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

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