Inceptionr LLC Boosts Holdings in Nucor Corporation $NUE

Inceptionr LLC raised its holdings in Nucor Corporation (NYSE:NUE) by 33.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,203 shares of the basic materials company’s stock after purchasing an additional 2,043 shares during the quarter. Inceptionr LLC’s holdings in Nucor were worth $1,338,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in NUE. Stance Capital LLC purchased a new stake in Nucor in the third quarter valued at $25,000. Vision Financial Markets LLC boosted its holdings in Nucor by 281.7% in the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Caitlin John LLC purchased a new stake in Nucor in the third quarter valued at $41,000. Geneos Wealth Management Inc. boosted its holdings in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 153 shares during the last quarter. Finally, Ares Financial Consulting LLC purchased a new stake in Nucor in the fourth quarter valued at $45,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP David A. Sumoski sold 33,068 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $225.67, for a total transaction of $7,462,455.56. Following the completion of the transaction, the executive vice president owned 243,339 shares in the company, valued at $54,914,312.13. This represents a 11.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Allen C. Behr sold 10,096 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the transaction, the executive vice president owned 62,871 shares of the company’s stock, valued at approximately $14,213,875.68. This trade represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 82,378 shares of company stock worth $18,963,930. Company insiders own 0.62% of the company’s stock.

Nucor Trading Down 1.5%

NUE stock opened at $250.59 on Thursday. The company’s 50-day simple moving average is $218.92 and its 200-day simple moving average is $187.36. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. Nucor Corporation has a 52-week low of $115.66 and a 52-week high of $264.67. The firm has a market cap of $57.07 billion, a P/E ratio of 24.81, a PEG ratio of 0.67 and a beta of 1.88.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, equities analysts forecast that Nucor Corporation will post 14.84 EPS for the current fiscal year.

Nucor declared that its board has authorized a stock repurchase program on Friday, February 20th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio is 22.18%.

More Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: JPMorgan raised its price target on Nucor to $282 from $240 and reiterated an overweight rating, signaling confidence in further upside for the steelmaker. Benzinga
• Positive Sentiment: Nucor announced its 213th consecutive quarterly cash dividend of $0.56 per share, reinforcing the company’s strong cash return profile and financial stability. Nucor Announces 213th Consecutive Cash Dividend
• Neutral Sentiment: The dividend declaration was also confirmed in a separate company release, which should not materially change the outlook but reinforces management’s commitment to returning capital to shareholders. Nucor Announces 213th Consecutive Cash Dividend
• Neutral Sentiment: Commentary noting that Nucor has outperformed the materials sector and that analysts remain bullish adds to the positive tone, but it is more of a sentiment check than a new catalyst. Nucor Stock: Is NUE Outperforming the Materials Sector?

Analyst Upgrades and Downgrades

Several research firms have commented on NUE. BNP Paribas Exane upped their price target on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Citigroup increased their target price on shares of Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Seaport Research Partners increased their target price on shares of Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and increased their target price for the stock from $190.00 to $224.00 in a research note on Tuesday, April 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $259.17.

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.