Fieldview Capital Management LLC Sells 39,195 Shares of Nucor Corporation $NUE

Fieldview Capital Management LLC lowered its stake in Nucor Corporation (NYSE:NUE) by 75.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 12,706 shares of the basic materials company’s stock after selling 39,195 shares during the quarter. Fieldview Capital Management LLC’s holdings in Nucor were worth $1,721,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. IMA Advisory Services Inc. raised its stake in Nucor by 51.4% during the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after buying an additional 75 shares during the last quarter. AXS Investments LLC purchased a new stake in shares of Nucor in the third quarter worth $37,000. Vision Financial Markets LLC grew its stake in shares of Nucor by 281.7% in the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 200 shares during the last quarter. Caitlin John LLC bought a new position in shares of Nucor during the third quarter valued at $41,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Nucor during the second quarter valued at $39,000. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE opened at $169.18 on Tuesday. The business has a 50-day simple moving average of $176.97 and a two-hundred day simple moving average of $158.04. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $196.90. The stock has a market cap of $38.53 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 0.61 and a beta of 1.83.

Nucor (NYSE:NUE) last posted 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). The company had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 earnings per share. On average, analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

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

Nucor announced that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NUE. JPMorgan Chase & Co. upped their price target on shares of Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Morgan Stanley restated an “equal weight” rating and set a $180.00 price objective (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. The Goldman Sachs Group lifted their target price on shares of Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, January 16th. UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price on the stock. in a research note on Wednesday, January 28th. Finally, Jefferies Financial Group increased their price target on shares of Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, January 12th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $187.90.

Insider Activity

In other news, EVP Allen C. Behr sold 7,568 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the sale, the executive vice president directly owned 67,711 shares in the company, valued at $12,763,523.50. This trade represents a 10.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of Nucor 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 transaction, the executive vice president owned 76,628 shares in the company, valued at approximately $15,020,620.56. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 34,351 shares of company stock worth $6,206,158 over the last ninety days. Company insiders own 0.71% of the company’s stock.

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.