Nucor Corporation $NUE Holdings Decreased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its position in shares of Nucor Corporation (NYSE:NUE) by 11.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 24,616 shares of the basic materials company’s stock after selling 3,056 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Nucor were worth $4,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Stance Capital LLC bought a new stake in Nucor during the third quarter valued at $25,000. Strive Financial Group LLC acquired a new stake in shares of Nucor during the fourth quarter worth $27,000. Motiv8 Investments LLC bought a new position in shares of Nucor in the 4th quarter worth about $32,000. Mcguire Capital Advisors Inc. bought a new position in shares of Nucor in the 4th quarter worth about $32,000. Finally, Reflection Asset Management acquired a new position in shares of Nucor in the 4th quarter valued at about $36,000. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NUE. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $190.00 to $224.00 in a research note on Tuesday, April 28th. Weiss Ratings upgraded Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 14th. CICC Research started coverage on Nucor in a report on Monday, May 25th. They set an “outperform” rating for the company. BMO Capital Markets increased their price target on Nucor from $250.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Wall Street Zen raised Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $266.15.

Insiders Place Their Bets

In related news, EVP David A. Sumoski sold 33,068 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $225.67, for a total value of $7,462,455.56. Following the sale, the executive vice president directly owned 243,339 shares in the company, valued at $54,914,312.13. This trade represents a 11.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction on Monday, May 4th. The shares were sold at an average price of $226.08, for a total value of $2,282,503.68. Following the sale, the executive vice president directly owned 62,871 shares in the company, valued at $14,213,875.68. The trade was a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is owned by company insiders.

Nucor Stock Performance

Shares of NUE stock traded up $5.00 during trading hours on Friday, reaching $227.28. The stock had a trading volume of 786,569 shares, compared to its average volume of 1,767,844. The firm has a market capitalization of $51.76 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 0.52 and a beta of 1.91. The firm has a 50-day simple moving average of $238.59 and a 200-day simple moving average of $199.17. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $270.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same quarter in the prior year, the firm earned $0.77 EPS. Nucor’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, equities analysts forecast that Nucor Corporation will post 17.68 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.56 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. Nucor’s payout ratio is currently 22.18%.

About Nucor

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.