Nkcfo LLC Invests $2.68 Million in Nucor Corporation $NUE

Nkcfo LLC acquired a new stake in shares of Nucor Corporation (NYSE:NUE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 19,800 shares of the basic materials company’s stock, valued at approximately $2,682,000.

A number of other institutional investors also recently bought and sold shares of NUE. Cary Street Partners Investment Advisory LLC grew its holdings in Nucor by 11.1% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 2,011 shares of the basic materials company’s stock valued at $272,000 after purchasing an additional 201 shares during the period. Payden & Rygel purchased a new position in shares of Nucor during the 3rd quarter valued at about $962,000. Avalon Trust Co purchased a new position in shares of Nucor during the 3rd quarter valued at about $204,000. Intrust Bank NA grew its stake in shares of Nucor by 7.1% during the 3rd quarter. Intrust Bank NA now owns 13,968 shares of the basic materials company’s stock valued at $1,892,000 after acquiring an additional 920 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in Nucor by 56.3% in the 3rd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 12,500 shares of the basic materials company’s stock worth $1,693,000 after acquiring an additional 4,500 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Nucor Stock Performance

Shares of NYSE NUE opened at $178.70 on Tuesday. The company has a market cap of $40.90 billion, a P/E ratio of 23.70, a P/E/G ratio of 0.65 and a beta of 1.86. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $196.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. The firm’s fifty day moving average is $174.59 and its two-hundred day moving average is $155.82.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the previous year, the business earned $1.22 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts anticipate that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor declared that its Board of Directors has approved a share buyback plan on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be paid a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.3%. Nucor’s payout ratio is presently 29.71%.

Insider Transactions at Nucor

In other news, EVP Thomas J. Batterbee sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total transaction of $330,560.00. Following the completion of the transaction, the executive vice president directly owned 17,952 shares in the company, valued at approximately $2,967,106.56. This represents a 10.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 7,452 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the completion of the transaction, the executive vice president directly owned 76,628 shares of the company’s stock, valued at approximately $15,020,620.56. This trade represents a 8.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,351 shares of company stock valued at $6,206,158 over the last 90 days. Insiders own 0.71% of the company’s stock.

Analysts Set New Price Targets

NUE has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Morgan Stanley restated an “equal weight” rating and set a $180.00 target price (up previously from $165.00) on shares of Nucor in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. UBS Group cut Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target on the stock. in a report on Wednesday, January 28th. Finally, BNP Paribas Exane boosted their price objective on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $179.36.

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.