Los Angeles Capital Management LLC Cuts Position in Nucor Corporation $NUE

Los Angeles Capital Management LLC decreased its holdings in Nucor Corporation (NYSE:NUE) by 58.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,256 shares of the basic materials company’s stock after selling 15,531 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Nucor were worth $1,685,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Nucor by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock valued at $4,633,554,000 after buying an additional 144,038 shares during the period. Norges Bank purchased a new position in Nucor in the fourth quarter valued at approximately $609,002,000. Capital World Investors raised its holdings in Nucor by 20.1% in the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock valued at $412,081,000 after buying an additional 509,019 shares during the period. Nordea Investment Management AB raised its holdings in Nucor by 11.1% in the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock valued at $342,642,000 after buying an additional 210,577 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Nucor by 27.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock valued at $290,405,000 after buying an additional 383,952 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In other news, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Randy J. Spicer sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $225.00, for a total transaction of $562,500.00. Following the sale, the executive vice president directly owned 20,510 shares of the company’s stock, valued at $4,614,750. The trade was a 10.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,378 shares of company stock valued at $18,963,930 over the last three months. Company insiders own 0.62% of the company’s stock.

Nucor Stock Down 1.5%

Shares of NYSE:NUE opened at $250.59 on Thursday. 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 company has a 50 day moving average of $218.92 and a two-hundred day moving average of $187.36. The company has a market capitalization of $57.07 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 0.67 and a beta of 1.88.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter last year, the company earned $0.77 earnings per share. Nucor’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, analysts forecast that Nucor Corporation will post 14.84 earnings per share for the current fiscal year.

Nucor announced that its board has authorized a share 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 buy up to 9.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be given a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.9%. Nucor’s dividend payout ratio (DPR) is 22.18%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Nucor from $240.00 to $260.00 in a report on Friday, May 1st. BNP Paribas Exane raised 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. Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Seaport Research Partners raised their price target on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group raised their price target on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $259.17.

Nucor News Roundup

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?

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.