Nucor Attracts $4.45 Billion BlackRock Stake, Argus Lifts Price Target

Argus raised its price target for Nucor Corp. to $303 from $262. The firm maintained its Buy rating on the steel producer.

BlackRock Inc. disclosed a new position in Nucor during the second quarter. The firm purchased nearly 20 million shares valued at approximately $4.45 billion. This acquisition gives BlackRock an 8.78% ownership stake.

Deutsche Bank also reported a new position of more than 988,000 shares.