Berkshire Hathaway Inc Has $867.80 Million Stock Holdings in Nucor Corporation $NUE

Berkshire Hathaway Inc decreased its stake in Nucor Corporation (NYSE:NUE) by 3.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,407,749 shares of the basic materials company’s stock after selling 206,363 shares during the quarter. Nucor makes up about 0.3% of Berkshire Hathaway Inc’s holdings, making the stock its 27th biggest position. Berkshire Hathaway Inc owned approximately 2.80% of Nucor worth $867,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. AXS Investments LLC purchased a new stake in shares of Nucor during the third quarter worth $37,000. Vision Financial Markets LLC boosted its position in Nucor by 281.7% during 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. Elevation Point Wealth Partners LLC purchased a new position in Nucor in the second quarter valued at about $39,000. Caitlin John LLC acquired a new position in Nucor in the 3rd quarter worth about $41,000. Finally, Geneos Wealth Management Inc. increased its position in 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 purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Down 1.3%

Shares of NUE stock opened at $163.52 on Friday. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $196.90. The company has a market cap of $37.25 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 0.58 and a beta of 1.83. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $177.20 and its two-hundred day moving average is $158.52.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.18). The firm had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.Nucor’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.22 earnings per share. Equities analysts predict that Nucor Corporation will post 7.64 EPS for the current year.

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 $0.56 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.4%. Nucor’s payout ratio is presently 29.71%.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NUE shares. Wells Fargo & Company lifted their price target on Nucor from $184.00 to $194.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Morgan Stanley restated 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. Jefferies Financial Group raised their price objective on shares of Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, January 12th. UBS Group cut shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price for the company. in a research note on Wednesday, January 28th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and an average target price of $187.90.

Insiders Place Their Bets

In related news, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the completion of the sale, the executive vice president owned 67,711 shares in the company, valued at $12,763,523.50. This represents a 10.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kenneth Rex Query sold 7,452 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the sale, the executive vice president directly owned 76,628 shares in the company, valued at $15,020,620.56. This trade represents a 8.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,351 shares of company stock worth $6,206,158 over the last quarter. 0.46% of the stock is currently 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.