Lombard Odier Asset Management Switzerland SA Has $2.74 Million Stock Position in Nucor Corporation $NUE

Lombard Odier Asset Management Switzerland SA increased its position in shares of Nucor Corporation (NYSE:NUE) by 44.6% during the 1st quarter, Holdings Channel reports. The fund owned 16,200 shares of the basic materials company’s stock after buying an additional 5,000 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Nucor were worth $2,739,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NUE. Strive Financial Group LLC bought a new position in Nucor during the 4th quarter worth about $27,000. Stance Capital LLC bought a new position in shares of Nucor during the third quarter worth about $25,000. Bartlett & CO. Wealth Management LLC raised its position in Nucor by 49.2% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after buying an additional 63 shares during the last quarter. Mcguire Capital Advisors Inc. bought a new position in shares of Nucor during the 4th quarter worth approximately $32,000. Finally, Motiv8 Investments LLC acquired a new position in Nucor during the fourth quarter worth $32,000. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of Nucor stock opened at $247.81 on Monday. The company has a 50 day moving average of $239.91 and a 200-day moving average of $204.43. The company has a market cap of $56.44 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 0.57 and a beta of 1.91. 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 Corporation has a 1-year low of $131.32 and a 1-year high of $270.90.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.41. The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm’s revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.77 EPS. As a group, equities research analysts forecast that Nucor Corporation will post 17.53 earnings per share for the current fiscal year.

Nucor Announces Dividend

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 issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio is presently 22.18%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Daniel R. Needham sold 12,888 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the completion of the transaction, 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 can be accessed through this link. Also, EVP David A. Sumoski sold 33,068 shares of Nucor stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $225.67, for a total value of $7,462,455.56. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 82,378 shares of company stock worth $18,963,930 over the last 90 days. Company insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. UBS Group cut Nucor from a “buy” rating to a “neutral” rating and increased their price target for the company from $190.00 to $224.00 in a research report on Tuesday, April 28th. Weiss Ratings raised Nucor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. BNP Paribas Exane boosted their target price on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Bank of America cut their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Finally, Morgan Stanley upped their target price on shares of Nucor from $227.00 to $258.00 and gave the company an “equal weight” rating in a report on Monday, June 22nd. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $266.31.

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.