Nucor Corporation $NUE Shares Acquired by Maple Rock Capital Partners Inc.

Maple Rock Capital Partners Inc. boosted its holdings in Nucor Corporation (NYSE:NUE) by 423.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 614,000 shares of the basic materials company’s stock after acquiring an additional 496,788 shares during the quarter. Nucor comprises about 2.7% of Maple Rock Capital Partners Inc.’s investment portfolio, making the stock its 10th biggest holding. Maple Rock Capital Partners Inc. owned 0.27% of Nucor worth $136,768,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of NUE. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Nucor by 745.2% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after purchasing an additional 73,588 shares during the last quarter. California Public Employees Retirement System increased its stake in Nucor by 19.3% in the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company’s stock worth $86,297,000 after purchasing an additional 82,668 shares in the last quarter. Pacific Heights Asset Management LLC raised its holdings in Nucor by 12.9% during the 4th quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company’s stock worth $28,544,000 after buying an additional 20,000 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in Nucor during the 4th quarter worth about $23,804,000. Finally, Bank of New York Mellon Corp lifted its stake in Nucor by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company’s stock valued at $306,054,000 after buying an additional 29,476 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Price Performance

Shares of NUE opened at $249.61 on Tuesday. The company has a market capitalization of $56.63 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 0.93 and a beta of 1.89. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. 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 business’s 50-day moving average is $246.74 and its 200-day moving average is $219.56.

Nucor (NYSE:NUE) last posted its quarterly earnings results 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 analyst estimates of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm’s revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.60 earnings per share. Equities research analysts expect that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Nucor Announces Dividend

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

Insider Buying and Selling at Nucor

In other news, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction 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 in the company, valued at $25,294,187.90. The trade was a 9.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president directly owned 16,138 shares in the company, valued at $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 18,528 shares of company stock valued at $4,793,035 in the last quarter. Company insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NUE. Wells Fargo & Company decreased their target price on shares of Nucor from $297.00 to $285.00 and set an “overweight” rating for the company in a report on Monday, August 24th. Barclays upped their price target on shares of Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. KeyCorp upgraded shares of Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 price objective on the stock in a research report on Wednesday, June 24th. Finally, Weiss Ratings raised shares of Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 25th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus target price of $272.38.

Nucor 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.