Nisa Investment Advisors LLC Buys 3,024 Shares of Nucor Corporation $NUE

Nisa Investment Advisors LLC lifted its position in Nucor Corporation (NYSE:NUE) by 4.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 75,276 shares of the basic materials company’s stock after purchasing an additional 3,024 shares during the period. Nisa Investment Advisors LLC’s holdings in Nucor were worth $12,320,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of NUE. Stance Capital LLC bought a new stake in Nucor in the third quarter valued at approximately $25,000. AXS Investments LLC acquired a new stake in Nucor in the third quarter worth $37,000. Vision Financial Markets LLC boosted its position in shares of Nucor by 281.7% during the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Nucor in the 2nd quarter valued at $39,000. Finally, Caitlin John LLC acquired a new position in shares of Nucor in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Jefferies Financial Group upped 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. Wells Fargo & Company boosted their target price on Nucor from $194.00 to $197.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. BNP Paribas Exane increased their price target on Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. BMO Capital Markets raised their price target on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Finally, UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $184.00 to $190.00 in a report on Thursday, March 26th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.30.

Insider Activity

In related news, EVP Kenneth Rex Query sold 7,452 shares of the firm’s stock in a transaction 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 transaction, the executive vice president owned 76,628 shares of the company’s stock, valued at approximately $15,020,620.56. This trade represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 7,568 shares of Nucor 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 completion of the sale, the executive vice president owned 67,711 shares in the company, valued at $12,763,523.50. The trade was a 10.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,401 shares of company stock worth $4,936,152 over the last ninety days. Insiders own 0.46% of the company’s stock.

Nucor Trading Up 2.9%

Shares of NYSE:NUE opened at $173.97 on Thursday. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $196.90. 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 company’s fifty day simple moving average is $175.44 and its 200 day simple moving average is $160.19. The firm has a market cap of $39.60 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 0.61 and a beta of 1.73.

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 analysts’ consensus estimates of $1.91 by ($0.18). The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.Nucor’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 earnings per share. As a group, research analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared 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. This represents a $2.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

Nucor declared that its board has authorized a stock buyback program 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 reacquire up to 9.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.