Shell Asset Management Co. Decreases Position in Nucor Corporation $NUE

Shell Asset Management Co. trimmed its stake in Nucor Corporation (NYSE:NUE) by 96.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 237 shares of the basic materials company’s stock after selling 7,197 shares during the period. Shell Asset Management Co.’s holdings in Nucor were worth $32,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Integrated Wealth Concepts LLC lifted its position in Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after buying an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nucor in the first quarter valued at $259,000. Geneos Wealth Management Inc. lifted its holdings in shares of Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 153 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Nucor during the 2nd quarter valued at about $390,000. Finally, Brookstone Capital Management raised its position in Nucor by 11.4% in the 2nd quarter. Brookstone Capital Management now owns 2,407 shares of the basic materials company’s stock worth $312,000 after purchasing an additional 247 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In related news, EVP Kenneth Rex Query sold 7,452 shares of Nucor stock in a transaction that occurred 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 directly owned 76,628 shares of the company’s stock, valued at $15,020,620.56. This trade represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Daniel R. Needham sold 3,881 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $178.00, for a total transaction of $690,818.00. Following the completion of the transaction, the executive vice president directly owned 88,298 shares of the company’s stock, valued at $15,717,044. This trade represents a 4.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,351 shares of company stock valued at $6,206,158 in the last ninety days. Company insiders own 0.71% of the company’s stock.

Nucor Price Performance

Shares of NUE stock opened at $178.70 on Tuesday. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $196.90. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $174.59 and a two-hundred day simple moving average of $155.82. The stock has a market capitalization of $40.90 billion, a price-to-earnings ratio of 23.70, a P/E/G ratio of 0.65 and a beta of 1.86.

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

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

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.56 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.3%. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. BNP Paribas Exane upped their target price on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. The Goldman Sachs Group boosted their price objective on Nucor from $182.00 to $196.00 and gave the company a “buy” rating in a report on Friday, January 16th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $180.00 price objective (up previously from $165.00) on shares of Nucor in a research report on Friday, January 9th. Jefferies Financial Group lifted their target price on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, Wells Fargo & Company boosted their target price on shares of Nucor from $176.00 to $184.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.36.

Nucor 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.