Principal Financial Group Inc. Acquires 11,121 Shares of Nucor Corporation $NUE

Principal Financial Group Inc. increased its holdings in shares of Nucor Corporation (NYSE:NUE) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 271,879 shares of the basic materials company’s stock after purchasing an additional 11,121 shares during the period. Principal Financial Group Inc.’s holdings in Nucor were worth $36,821,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NUE. Vanguard Group Inc. increased its stake in shares of Nucor by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 29,171,068 shares of the basic materials company’s stock valued at $3,778,820,000 after acquiring an additional 211,741 shares in the last quarter. State Street Corp grew its holdings in Nucor by 3.1% in the second quarter. State Street Corp now owns 12,501,779 shares of the basic materials company’s stock worth $1,626,321,000 after purchasing an additional 371,911 shares during the period. Berkshire Hathaway Inc bought a new stake in Nucor in the second quarter valued at $856,792,000. Norges Bank bought a new stake in Nucor in the second quarter valued at $479,858,000. Finally, Nordea Investment Management AB raised its holdings in shares of Nucor by 2.0% during the third quarter. Nordea Investment Management AB now owns 1,892,423 shares of the basic materials company’s stock valued at $255,155,000 after purchasing an additional 36,323 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NUE has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $180.00 target price (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Wells Fargo & Company lifted their price target on shares of Nucor from $176.00 to $184.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Wall Street Zen upgraded shares of Nucor from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, The Goldman Sachs Group lifted their price objective on shares of Nucor from $182.00 to $196.00 and gave the company a “buy” rating in a report on Friday, January 16th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.36.

Nucor Stock Down 1.8%

Nucor stock opened at $186.57 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. The stock has a market cap of $42.70 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 0.69 and a beta of 1.86. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $191.04. The firm’s 50-day simple moving average is $168.77 and its 200 day simple moving average is $151.91.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.Nucor’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 EPS. Research analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, December 31st. This is a positive change from Nucor’s previous quarterly dividend of $0.55. Nucor’s dividend payout ratio (DPR) is presently 29.71%.

Insider Activity at Nucor

In related news, EVP Thomas J. Batterbee sold 2,000 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total transaction of $330,560.00. Following the completion of the transaction, the executive vice president owned 17,952 shares in the company, valued at approximately $2,967,106.56. This represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Daniel R. Needham sold 3,881 shares of the business’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $178.00, for a total transaction of $690,818.00. Following the completion of the transaction, the executive vice president owned 88,298 shares in the company, valued at approximately $15,717,044. The trade was a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 33,899 shares of company stock valued at $5,794,577 over the last quarter. Corporate insiders own 0.46% 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.