Deutsche Bank AG Purchases Shares of 988,444 Nucor Corporation $NUE

Deutsche Bank AG purchased a new position in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 988,444 shares of the basic materials company’s stock, valued at approximately $220,176,000.

Other large investors also recently modified their holdings of the company. Perigon Wealth Management LLC purchased a new stake in Nucor in the second quarter worth approximately $503,000. Commerzbank Aktiengesellschaft FI bought a new position in Nucor during the second quarter valued at approximately $215,000. Trust Co. of Vermont purchased a new position in shares of Nucor during the second quarter worth approximately $799,000. Focused Wealth Management Inc purchased a new position in shares of Nucor during the second quarter worth approximately $1,874,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Nucor in the 2nd quarter worth approximately $126,848,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NUE. Zacks Research cut shares of Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Citigroup reiterated a “buy” rating on shares of Nucor in a research report on Wednesday, July 29th. Wells Fargo & Company boosted their price target on shares of Nucor from $283.00 to $297.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. UBS Group upped their price target on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Finally, BMO Capital Markets raised their price objective on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $273.31.

Nucor Stock Performance

NYSE:NUE opened at $264.74 on Wednesday. The firm has a market cap of $60.06 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 0.60 and a beta of 1.89. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51. The business has a 50 day moving average price of $247.76 and a 200-day moving average price of $215.68.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter last year, the business earned $2.60 earnings per share. The business’s revenue was up 23.0% on a year-over-year basis. Equities research analysts predict that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is 17.86%.

Insiders Place Their Bets

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. The trade was a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the business’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the transaction, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. The trade was a 4.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,528 shares of company stock valued at $4,793,035 in the last quarter. Insiders own 0.62% of the company’s stock.

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.