Meeder Asset Management Inc. Trims Position in Nucor Corporation $NUE

Meeder Asset Management Inc. decreased its position in shares of Nucor Corporation (NYSE:NUE) by 82.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,603 shares of the basic materials company’s stock after selling 31,553 shares during the quarter. Meeder Asset Management Inc.’s holdings in Nucor were worth $1,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Meeder Advisory Services Inc. increased its position in Nucor by 3.3% during the first quarter. Meeder Advisory Services Inc. now owns 5,887 shares of the basic materials company’s stock worth $996,000 after purchasing an additional 190 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Nucor by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after purchasing an additional 22,718 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Nucor by 7.6% in the 1st quarter. Parallel Advisors LLC now owns 3,373 shares of the basic materials company’s stock valued at $570,000 after purchasing an additional 239 shares during the last quarter. Decker Wealth Management LLC purchased a new stake in shares of Nucor in the 1st quarter valued at approximately $6,740,000. Finally, KBC Group NV grew its stake in shares of Nucor by 52.3% in the 1st quarter. KBC Group NV now owns 77,602 shares of the basic materials company’s stock valued at $13,122,000 after buying an additional 26,655 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In other news, EVP Randy J. Spicer sold 2,500 shares of Nucor stock in a transaction on Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the completion of the sale, the executive vice president directly owned 20,510 shares of the company’s stock, valued at approximately $4,614,750. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael D. Keller sold 4,554 shares of Nucor stock in a transaction on Monday, May 4th. The shares were sold at an average price of $225.86, for a total value of $1,028,566.44. Following the completion of the sale, the insider directly owned 16,834 shares of the company’s stock, valued at $3,802,127.24. The trade was a 21.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 82,378 shares of company stock valued at $18,963,930 over the last quarter. 0.62% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NUE shares. UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and raised their price target for the stock from $190.00 to $224.00 in a report on Tuesday, April 28th. BNP Paribas Exane increased their price objective on Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Barclays increased their price objective on Nucor from $270.00 to $272.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. BMO Capital Markets lifted their target price on Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Finally, The Goldman Sachs Group lifted their target price on Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Twelve research analysts have rated the stock with a Buy rating and four 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 $266.31.

Nucor Price Performance

Shares of NUE opened at $230.86 on Tuesday. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $270.90. The stock has a market cap of $52.58 billion, a PE ratio of 22.86, a P/E/G ratio of 0.54 and a beta of 1.91. The firm has a 50-day simple moving average of $239.19 and a two-hundred day simple moving average of $202.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same period in the prior year, the business posted $0.77 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, analysts forecast 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. Shareholders of record on Tuesday, June 30th will be given a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Nucor’s payout ratio 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.