Regal Partners Ltd Reduces Position in Nucor Corporation $NUE

Regal Partners Ltd trimmed its holdings in Nucor Corporation (NYSE:NUE) by 70.0% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,101 shares of the basic materials company’s stock after selling 51,563 shares during the period. Regal Partners Ltd’s holdings in Nucor were worth $2,993,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of NUE. Fox Run Management L.L.C. bought a new position in Nucor during the third quarter valued at approximately $1,528,000. Fidelis Capital Partners LLC bought a new stake in Nucor in the 2nd quarter worth approximately $236,000. Penserra Capital Management LLC grew its position 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 during the period. Allstate Corp purchased a new stake in Nucor during the 3rd quarter valued at $1,085,000. Finally, Peterson Wealth Services lifted its holdings 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 buying an additional 146,758 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 2.0%

Shares of NUE stock opened at $168.58 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The company has a market cap of $38.40 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 0.61 and a beta of 1.83. 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 $176.90 and a 200-day moving average price of $157.76.

Nucor (NYSE:NUE) last announced its earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS 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 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 revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 earnings per share. As a group, equities analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Announces Dividend

The business 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 of this dividend 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 initiated a share buyback program on Friday, February 20th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of research reports. Jefferies Financial Group raised their price target on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Morgan Stanley reissued an “equal weight” rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a report on Friday, January 9th. BMO Capital Markets raised their target price on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. JPMorgan Chase & Co. boosted their price target on Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Finally, Seaport Research Partners upped their price target on shares of Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.90.

Insider Buying and Selling

In other news, EVP Thomas J. Batterbee sold 2,000 shares of Nucor stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total transaction of $330,560.00. Following the transaction, the executive vice president directly owned 17,952 shares of the company’s stock, valued at $2,967,106.56. The trade was a 10.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Daniel R. Needham sold 3,881 shares of the business’s stock in a transaction that occurred on 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 owned 88,298 shares of the company’s stock, valued at approximately $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,351 shares of company stock worth $6,206,158 over the last ninety days. 0.46% of the stock is owned by corporate insiders.

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.