Northwestern Mutual Wealth Management Co. Makes New Investment in Nucor Corporation $NUE

Northwestern Mutual Wealth Management Co. acquired a new position in shares of Nucor Corporation (NYSE:NUE) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,025 shares of the basic materials company’s stock, valued at approximately $2,679,000.

Several other hedge funds have also added to or reduced their stakes in NUE. Vanguard Group Inc. raised its stake in shares of Nucor by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock valued at $4,633,554,000 after buying an additional 144,038 shares during the period. BlackRock Inc. purchased a new position in shares of Nucor during the 2nd quarter valued at $4,452,563,000. Morgan Stanley grew its stake in shares of Nucor by 1.1% during the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after acquiring an additional 41,728 shares during the period. Norges Bank bought a new position in shares of Nucor during the 4th quarter worth $609,002,000. Finally, Dimensional Fund Advisors LP increased 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 worth $429,298,000 after acquiring an additional 22,718 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Activity at Nucor

In related news, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the transaction, the executive vice president directly owned 16,138 shares in the company, valued at $4,212,340.76. This trade represents a 19.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares in the company, valued at $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,528 shares of company stock worth $4,793,035 in the last ninety days. 0.62% of the stock is owned by company insiders.

Nucor Price Performance

Shares of NYSE:NUE opened at $244.32 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The stock has a market cap of $55.43 billion, a PE ratio of 19.48, a PEG ratio of 0.90 and a beta of 1.89. The company’s fifty day moving average is $246.58 and its 200 day moving average is $217.46. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.15 billion. During the same period in the prior year, the business posted $2.60 earnings per share. The company’s revenue was up 23.0% on a year-over-year basis. Research analysts anticipate that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were issued a dividend of $0.56 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.9%. Nucor’s dividend payout ratio is currently 17.86%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NUE. CICC Research started coverage on shares of Nucor in a research report on Monday, May 25th. They issued an “outperform” rating on the stock. Morgan Stanley set a $270.00 price objective on shares of Nucor in a report on Wednesday, July 29th. Seaport Research Partners lifted their price objective on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, June 10th. KeyCorp raised shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 target price on the stock in a report on Wednesday, June 24th. Finally, Wells Fargo & Company dropped their target price on Nucor from $297.00 to $285.00 and set an “overweight” rating on the stock in a research report on Monday. Twelve equities 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 presently has an average rating of “Moderate Buy” and a consensus price target of $272.38.

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.