Nucor Corporation $NUE Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in shares of Nucor Corporation (NYSE:NUE) by 86.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,118 shares of the basic materials company’s stock after selling 82,003 shares during the quarter. Intech Investment Management LLC’s holdings in Nucor were worth $1,777,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NUE. Fox Run Management L.L.C. purchased a new position in shares of Nucor in the third quarter worth about $1,528,000. Fidelis Capital Partners LLC acquired a new position in Nucor in the 2nd quarter worth approximately $236,000. Penserra Capital Management LLC raised its position in Nucor by 15,814.3% during the 3rd quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock worth $452,000 after buying an additional 3,321 shares during the last quarter. Allstate Corp acquired a new stake in Nucor during the 3rd quarter valued at approximately $1,085,000. Finally, Peterson Wealth Services lifted its stake in Nucor by 587,032.0% during the 3rd quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock valued at $19,879,000 after acquiring an additional 146,758 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NUE. Wells Fargo & Company raised their target price on shares of Nucor from $184.00 to $194.00 and gave the stock an “overweight” rating in a report on Monday. Jefferies Financial Group lifted their price objective on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Morgan Stanley reissued an “equal weight” rating and issued a $180.00 price objective (up from $165.00) on shares of Nucor in a report on Friday, January 9th. Wall Street Zen raised Nucor from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.80.

Nucor Stock Performance

Shares of NUE stock opened at $176.07 on Thursday. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $196.90. The business’s 50 day moving average is $176.70 and its two-hundred day moving average is $157.41. The company has a market capitalization of $40.10 billion, a P/E ratio of 23.35, a P/E/G ratio of 0.64 and a beta of 1.83.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the previous year, the company earned $1.22 earnings per share. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Nucor announced 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 repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Nucor

In related news, EVP Daniel R. Needham sold 3,881 shares of the firm’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $178.00, for a total value of $690,818.00. Following the transaction, the executive vice president directly owned 88,298 shares of the company’s stock, valued at approximately $15,717,044. This trade represents a 4.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas J. Batterbee sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total value of $330,560.00. Following the sale, the executive vice president owned 17,952 shares of the company’s stock, valued at approximately $2,967,106.56. This trade represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 34,351 shares of company stock worth $6,206,158 in the last ninety days. 0.46% of the stock is owned by company insiders.

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.