Vanguard Group Inc. Lowers Holdings in Nucor Corporation $NUE

Vanguard Group Inc. trimmed its position in Nucor Corporation (NYSE:NUE) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,263,502 shares of the basic materials company’s stock after selling 907,566 shares during the period. Vanguard Group Inc. owned 12.31% of Nucor worth $3,827,726,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Fidelis Capital Partners LLC purchased a new stake in Nucor during the 2nd quarter valued at $236,000. Penserra Capital Management LLC raised its holdings in Nucor by 15,814.3% in the 3rd quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock worth $452,000 after purchasing an additional 3,321 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Nucor in the 2nd quarter worth $5,225,000. Allstate Corp purchased a new stake in shares of Nucor in the 3rd quarter worth about $1,085,000. Finally, Peterson Wealth Services boosted its stake in shares of 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 purchasing an additional 146,758 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Thomas J. Batterbee sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total value of $330,560.00. Following the transaction, the executive vice president owned 17,952 shares of the company’s stock, valued at approximately $2,967,106.56. The trade was a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel R. Needham sold 3,881 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $178.00, for a total transaction of $690,818.00. Following the transaction, the executive vice president directly owned 88,298 shares of the company’s stock, valued at $15,717,044. The trade was a 4.21% decrease in their ownership of the stock. 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. Company insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on NUE. Seaport Research Partners raised their price objective on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Morgan Stanley reissued an “equal weight” rating and set a $180.00 price objective (up previously from $165.00) on shares of Nucor in a research note on Friday, January 9th. BNP Paribas Exane raised their price target on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. 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 investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.36.

Nucor Stock Performance

Shares of NYSE NUE opened at $183.34 on Wednesday. The stock has a market cap of $41.96 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 0.66 and a beta of 1.86. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $196.90. The firm has a fifty day moving average price of $173.27 and a 200-day moving average price of $154.63. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57.

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

Nucor Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 11th. Investors of record on Wednesday, December 31st were given a dividend of $0.56 per share. This is an increase from Nucor’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, December 31st. Nucor’s dividend payout ratio (DPR) is 29.71%.

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.