UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 146,048 Shares of Nucor Corporation $NUE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Nucor Corporation (NYSE:NUE) by 12.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,277,389 shares of the basic materials company’s stock after acquiring an additional 146,048 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.56% of Nucor worth $284,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NUE. BlackRock Inc. purchased a new position in Nucor during the 2nd quarter valued at about $4,452,563,000. Norges Bank bought a new stake in shares of Nucor in the 4th quarter worth approximately $609,002,000. Bank of America Corp DE purchased a new position in shares of Nucor during the second quarter valued at approximately $462,886,000. Berkshire Hathaway Inc purchased a new position in shares of Nucor during the second quarter valued at approximately $413,814,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Nucor during the second quarter valued at approximately $330,902,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Trading Down 0.4%

NYSE NUE opened at $249.61 on Tuesday. The firm has a market capitalization of $56.63 billion, a PE ratio of 19.91, a P/E/G ratio of 0.93 and a beta of 1.89. The stock’s 50 day moving average is $246.74 and its 200 day moving average is $219.56. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. During the same quarter in the prior year, the company earned $2.60 earnings per share. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. Research analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is presently 17.86%.

Analyst Ratings Changes

A number of analysts recently commented on NUE shares. Wells Fargo & Company dropped their price target on Nucor from $297.00 to $285.00 and set an “overweight” rating for the company in a research note on Monday, August 24th. CICC Research initiated coverage on shares of Nucor in a research report on Monday, May 25th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Bank of America cut their target price on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Morgan Stanley set a $270.00 price target on shares of Nucor in a research report on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $272.38.

Insider Activity at Nucor

In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of the company’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the transaction, the executive vice president directly owned 97,865 shares of the company’s stock, valued at $25,294,187.90. This represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,528 shares of company stock valued at $4,793,035 in the last three months. Company insiders own 0.62% of the company’s stock.

Nucor Company 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.