Aberdeen Group plc Has $26.62 Million Stock Position in Nucor Corporation $NUE

Aberdeen Group plc increased its stake in Nucor Corporation (NYSE:NUE) by 49.4% during the third quarter, Holdings Channel reports. The firm owned 195,603 shares of the basic materials company’s stock after acquiring an additional 64,642 shares during the period. Aberdeen Group plc’s holdings in Nucor were worth $26,618,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Nucor by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 29,171,068 shares of the basic materials company’s stock valued at $3,778,820,000 after buying an additional 211,741 shares in the last quarter. State Street Corp boosted its position in shares of Nucor by 3.1% during the 2nd quarter. State Street Corp now owns 12,501,779 shares of the basic materials company’s stock worth $1,626,321,000 after acquiring an additional 371,911 shares in the last quarter. Berkshire Hathaway Inc bought a new position in Nucor in the second quarter valued at approximately $856,792,000. Norges Bank bought a new position in Nucor in the second quarter valued at approximately $479,858,000. Finally, Nordea Investment Management AB raised its position in Nucor by 2.0% during the third quarter. Nordea Investment Management AB now owns 1,892,423 shares of the basic materials company’s stock valued at $255,155,000 after purchasing an additional 36,323 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other news, EVP Kenneth Rex Query sold 7,452 shares of Nucor stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the transaction, the executive vice president owned 76,628 shares in the company, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the completion of the sale, the executive vice president directly owned 67,711 shares in the company, valued at approximately $12,763,523.50. This represents a 10.05% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 34,351 shares of company stock valued at $6,206,158. Insiders own 0.71% of the company’s stock.

Nucor Price Performance

Shares of NUE opened at $183.34 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The stock has a market cap of $41.96 billion, a PE ratio of 24.32, a PEG ratio of 0.66 and a beta of 1.86. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $196.90. The business has a 50-day simple moving average of $173.27 and a two-hundred day simple moving average of $154.63.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the previous year, the business posted $1.22 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st were issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.55. Nucor’s payout ratio is presently 29.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NUE shares. Morgan Stanley reaffirmed an “equal weight” rating and issued a $180.00 target price (up previously from $165.00) on shares of Nucor in a report on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. Seaport Research Partners lifted their target price on Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Jefferies Financial Group boosted their target price on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Finally, UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target on the stock. in a research note on Wednesday, January 28th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $179.36.

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.