2,707 Shares in Nucor Co. (NYSE:NUE) Purchased by DeDora Capital Inc.

DeDora Capital Inc. purchased a new position in Nucor Co. (NYSE:NUE) in the first quarter, HoldingsChannel reports. The fund purchased 2,707 shares of the basic materials company’s stock, valued at approximately $536,000.

A number of other institutional investors also recently bought and sold shares of the stock. Keybank National Association OH increased its stake in shares of Nucor by 3.4% during the third quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock valued at $3,009,000 after purchasing an additional 639 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new position in shares of Nucor during the fourth quarter valued at approximately $3,481,000. AIA Group Ltd increased its stake in shares of Nucor by 53.2% during the fourth quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after purchasing an additional 4,592 shares in the last quarter. Sapient Capital LLC purchased a new stake in shares of Nucor during the fourth quarter valued at approximately $1,230,000. Finally, abrdn plc grew its holdings in shares of Nucor by 41.7% during the fourth quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock valued at $26,932,000 after buying an additional 45,521 shares during the last quarter. 76.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on NUE. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and increased their price target for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. JPMorgan Chase & Co. cut their price target on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. UBS Group began coverage on shares of Nucor in a report on Tuesday, January 16th. They set a “buy” rating and a $210.00 price target on the stock. Finally, BMO Capital Markets cut their price target on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Nucor has a consensus rating of “Hold” and an average price target of $193.14.

Insiders Place Their Bets

In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the transaction, the executive vice president now directly owns 120,738 shares in the company, valued at $23,351,936.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the sale, the executive vice president now directly owns 120,738 shares in the company, valued at approximately $23,351,936.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the sale, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,651 shares of company stock worth $6,283,648. Company insiders own 0.46% of the company’s stock.

Nucor Stock Performance

NUE stock traded up $3.40 on Friday, hitting $173.92. The company had a trading volume of 1,054,672 shares, compared to its average volume of 1,443,490. Nucor Co. has a 12-month low of $129.79 and a 12-month high of $203.00. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $189.15 and its 200 day simple moving average is $175.21. The stock has a market cap of $41.74 billion, a price-to-earnings ratio of 10.23 and a beta of 1.65.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business had revenue of $8.14 billion during the quarter, compared to the consensus estimate of $8.26 billion. During the same quarter in the previous year, the business posted $4.45 earnings per share. The firm’s revenue was down 6.6% on a year-over-year basis. As a group, equities research analysts expect that Nucor Co. will post 12.55 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Thursday, March 28th will be given a $0.54 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.16 annualized dividend and a yield of 1.24%. Nucor’s payout ratio is presently 12.71%.

About Nucor

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.