6,960 Shares in Nucor Corporation $NUE Acquired by Equitable Holdings Inc.

Equitable Holdings Inc. acquired a new position in shares of Nucor Corporation (NYSE:NUE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,960 shares of the basic materials company’s stock, valued at approximately $1,550,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stance Capital LLC acquired a new stake in shares of Nucor during the 3rd quarter worth $25,000. Transamerica Financial Advisors LLC acquired a new position in Nucor in the second quarter valued at about $25,000. Strive Financial Group LLC acquired a new position in Nucor in the fourth quarter valued at about $27,000. Manning & Napier Advisors LLC bought a new stake in Nucor during the second quarter worth about $27,000. Finally, Bell Investment Advisors Inc acquired a new stake in Nucor during the second quarter worth about $28,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NUE has been the subject of several analyst reports. The Goldman Sachs Group boosted their target price on shares of Nucor from $260.00 to $284.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Weiss Ratings upgraded shares of Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Argus boosted their price objective on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Citigroup restated a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Finally, Barclays raised their target price on Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $272.38.

Nucor Stock Down 0.6%

NUE stock opened at $250.84 on Friday. The firm has a 50-day moving average price of $246.64 and a 200-day moving average price of $218.97. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $56.91 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 0.94 and a beta of 1.89.

Nucor (NYSE:NUE) last released 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. The business had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.60 EPS. As a group, equities research analysts anticipate that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders 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 dividend yield of 0.9%. Nucor’s dividend payout ratio is 17.86%.

Insider Transactions at Nucor

In other news, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the transaction, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. This represents a 4.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction on 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 sale, the executive vice president directly owned 16,138 shares in the company, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 18,528 shares of company stock worth $4,793,035. Corporate insiders own 0.62% of the company’s stock.

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.