Heartland Advisors Inc. Invests $4.78 Million in Nucor Corporation $NUE

Heartland Advisors Inc. acquired a new stake in shares of Nucor Corporation (NYSE:NUE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 35,277 shares of the basic materials company’s stock, valued at approximately $4,778,000.

A number of other hedge funds have also bought and sold shares of NUE. Fidelis Capital Partners LLC bought a new stake in shares of Nucor in the second quarter worth $236,000. Penserra Capital Management LLC boosted its position in Nucor by 15,814.3% in the third 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 last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Nucor during the 2nd quarter valued at about $5,225,000. Allstate Corp purchased a new stake in shares of Nucor during the 3rd quarter valued at about $1,085,000. Finally, Peterson Wealth Services lifted its stake in shares of Nucor by 587,032.0% in the 3rd quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock worth $19,879,000 after purchasing an additional 146,758 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

NYSE NUE opened at $183.34 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $196.90. The business has a 50-day moving average price of $173.27 and a 200-day moving average price of $154.63. The firm has a market cap of $41.96 billion, a price-to-earnings ratio of 24.32, a price-to-earnings-growth ratio of 0.66 and a beta of 1.86.

Nucor (NYSE:NUE) last posted its quarterly 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). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the prior year, the firm posted $1.22 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities research analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Increases Dividend

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

Insider Activity at Nucor

In other news, EVP Thomas J. Batterbee sold 2,000 shares of the firm’s 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 completion of the transaction, the executive vice president owned 17,952 shares in the company, valued at $2,967,106.56. This trade represents a 10.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total value 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. This represents a 10.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 34,351 shares of company stock valued at $6,206,158. 0.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NUE shares. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price objective for the company. in a research report on Wednesday, January 28th. Wall Street Zen raised Nucor from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Morgan Stanley reiterated an “equal weight” rating and set a $180.00 target price (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Finally, Jefferies Financial Group upped their price target on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Nucor has an average rating of “Moderate Buy” and a consensus price target of $179.36.

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.