Korea Investment CORP Makes New $56.30 Million Investment in Nucor Corporation $NUE

Korea Investment CORP acquired a new stake in shares of Nucor Corporation (NYSE:NUE) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 252,742 shares of the basic materials company’s stock, valued at approximately $56,298,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. EP Wealth Advisors LLC purchased a new stake in shares of Nucor in the second quarter worth about $1,926,000. Ieq Capital LLC purchased a new position in Nucor during the second quarter valued at approximately $2,350,000. Callan Family Office LLC acquired a new position in Nucor in the second quarter valued at approximately $1,233,000. Gambit Capital Management LLC acquired a new position in Nucor in the second quarter valued at approximately $496,000. Finally, Heartland Advisors Inc. purchased a new stake in Nucor in the 2nd quarter worth approximately $8,117,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Up 1.4%

Shares of NUE stock opened at $243.89 on Friday. Nucor Corporation has a 1-year low of $131.32 and a 1-year high of $280.11. The company has a market cap of $55.33 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 0.89 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The stock has a 50 day simple moving average of $246.88 and a 200-day simple moving average of $216.80.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $10.15 billion. During the same period in the prior year, the business earned $2.60 earnings per share. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, equities research analysts expect 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 given a $0.56 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor’s dividend payout ratio is 17.86%.

Insider Activity

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the firm’s 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 sale, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,528 shares of company stock worth $4,793,035 over the last ninety days. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NUE shares. Argus lifted their target price on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a report on Friday, May 15th. Citigroup reissued a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. Zacks Research lowered shares of Nucor from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. UBS Group lifted their price objective on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a report on Tuesday, July 28th. Finally, 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 research report on Wednesday, June 10th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $273.31.

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.