Credit Agricole S A Grows Position in Nucor Corporation $NUE

Credit Agricole S A boosted its stake in shares of Nucor Corporation (NYSE:NUE) by 12.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,129 shares of the basic materials company’s stock after purchasing an additional 9,564 shares during the period. Credit Agricole S A’s holdings in Nucor were worth $10,365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Nucor by 17.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company’s stock valued at $3,853,000 after purchasing an additional 4,763 shares in the last quarter. Voya Investment Management LLC lifted its position in Nucor by 528.6% during the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company’s stock valued at $59,235,000 after purchasing an additional 426,949 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Nucor by 21.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company’s stock valued at $12,210,000 after purchasing an additional 17,861 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Nucor by 20.5% during the first quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company’s stock valued at $3,476,000 after purchasing an additional 4,914 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Nucor by 12.4% during the first quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company’s stock valued at $36,704,000 after purchasing an additional 33,700 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Nucor news, EVP Allen C. Behr sold 8,021 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the sale, the executive vice president directly owned 82,703 shares of the company’s stock, valued at $11,857,956.14. The trade was a 8.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Daniel R. Needham sold 7,200 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $146.00, for a total value of $1,051,200.00. Following the sale, the executive vice president directly owned 92,179 shares in the company, valued at $13,458,134. The trade was a 7.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,309 shares of company stock valued at $5,860,294 over the last ninety days. 0.46% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NUE. Morgan Stanley lifted their target price on Nucor from $134.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Wall Street Zen cut Nucor from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. BMO Capital Markets raised Nucor from a “market perform” rating to an “outperform” rating and raised their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. UBS Group decreased their price target on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. raised their price target on Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Nucor currently has a consensus rating of “Buy” and an average target price of $155.78.

Nucor Trading Down 1.7%

Shares of NUE stock opened at $143.4430 on Thursday. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $170.52. The company has a current ratio of 2.83, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average price is $137.17 and its 200-day moving average price is $127.26. The stock has a market capitalization of $32.93 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 0.93 and a beta of 1.74.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 28th. The basic materials company reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.06. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The firm had revenue of $8.46 billion for the quarter, compared to analysts’ expectations of $8.47 billion. During the same period in the previous year, the firm posted $2.68 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, June 30th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 30th. Nucor’s payout ratio is presently 39.71%.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.