KLCM Advisors Inc. Sells 3,000 Shares of Nucor Corporation $NUE

KLCM Advisors Inc. cut its holdings in Nucor Corporation (NYSE:NUE) by 23.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,881 shares of the basic materials company’s stock after selling 3,000 shares during the quarter. KLCM Advisors Inc.’s holdings in Nucor were worth $1,338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mackenzie Financial Corp grew its position in shares of Nucor by 2.0% during the 3rd quarter. Mackenzie Financial Corp now owns 24,575 shares of the basic materials company’s stock worth $3,328,000 after buying an additional 493 shares during the period. Van ECK Associates Corp lifted its position in shares of Nucor by 7.6% during the 3rd quarter. Van ECK Associates Corp now owns 42,043 shares of the basic materials company’s stock valued at $5,694,000 after acquiring an additional 2,984 shares during the period. FourThought Financial Partners LLC bought a new position in Nucor during the third quarter worth $421,000. Capital World Investors boosted its stake in Nucor by 20.1% during the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after acquiring an additional 509,019 shares in the last quarter. Finally, Capital International Sarl grew its holdings in Nucor by 7.0% in the third quarter. Capital International Sarl now owns 5,188 shares of the basic materials company’s stock worth $703,000 after purchasing an additional 341 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Up 0.8%

NYSE:NUE opened at $171.73 on Thursday. 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 Corporation has a one year low of $97.59 and a one year high of $196.90. The company has a market cap of $39.11 billion, a PE ratio of 22.78, a PEG ratio of 0.61 and a beta of 1.83. The firm has a 50-day moving average of $177.26 and a 200-day moving average of $158.30.

Nucor (NYSE:NUE) last released 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 company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. Nucor’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.22 EPS. As a group, equities research analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.56 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 annualized dividend and a yield of 1.3%. Nucor’s dividend payout ratio 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 purchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

NUE has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. JPMorgan Chase & Co. boosted their target price on Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Seaport Research Partners increased their price target on Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, January 30th. UBS Group cut Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price objective for the company. in a research note on Wednesday, January 28th. Finally, Jefferies Financial Group boosted their price objective on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, January 12th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $187.90.

Insider Buying and Selling

In other news, EVP Kenneth Rex Query sold 7,452 shares of the company’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 sale, the executive vice president owned 76,628 shares in the company, valued at $15,020,620.56. This represents a 8.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Daniel R. Needham sold 3,881 shares of the firm’s stock in a transaction dated 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 in the company, valued at $15,717,044. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 34,351 shares of company stock valued at $6,206,158. 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.