Intech Investment Management LLC Reduces Position in Nucor Corporation $NUE

Intech Investment Management LLC trimmed its holdings in Nucor Corporation (NYSE:NUE) by 86.2% during the third quarter, HoldingsChannel reports. The firm owned 13,118 shares of the basic materials company’s stock after selling 82,003 shares during the period. Intech Investment Management LLC’s holdings in Nucor were worth $1,777,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fox Run Management L.L.C. purchased a new position in Nucor during the third quarter worth approximately $1,528,000. Monetta Financial Services Inc. purchased a new stake in Nucor in the 3rd quarter valued at $1,422,000. Mufg Securities Americas Inc. increased its stake in shares of Nucor by 21.0% in the 3rd quarter. Mufg Securities Americas Inc. now owns 6,190 shares of the basic materials company’s stock worth $838,000 after acquiring an additional 1,076 shares during the last quarter. First Financial Bankshares Inc purchased a new position in shares of Nucor during the 3rd quarter worth $248,000. Finally, Compound Planning Inc. boosted its position in shares of Nucor by 4.1% during the 3rd quarter. Compound Planning Inc. now owns 4,321 shares of the basic materials company’s stock valued at $585,000 after acquiring an additional 171 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Trading Down 0.7%

NUE opened at $176.07 on Thursday. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $196.90. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $176.70 and a 200-day simple moving average of $157.41. The firm has a market cap of $40.10 billion, a P/E ratio of 23.35, a P/E/G ratio of 0.64 and a beta of 1.83.

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

Nucor Dividend Announcement

The firm 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 presently 29.71%.

Nucor announced that its board has initiated a share repurchase plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. BNP Paribas Exane raised their price target on shares of Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, January 2nd. Morgan Stanley reiterated an “equal weight” rating and issued a $180.00 price objective (up from $165.00) on shares of Nucor in a report on Friday, January 9th. Jefferies Financial Group increased their price objective on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Finally, Seaport Research Partners lifted their target price on Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Nucor has an average rating of “Moderate Buy” and a consensus price target of $182.80.

Insider Buying and Selling at Nucor

In other Nucor 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 completion of the transaction, the executive vice president owned 17,952 shares in the company, valued at $2,967,106.56. The trade was a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 7,452 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total value of $1,460,741.04. Following the sale, the executive vice president directly owned 76,628 shares in the company, valued at $15,020,620.56. This represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 34,351 shares of company stock worth $6,206,158. 0.46% of the stock is currently owned by company 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.