FourThought Financial Partners LLC Makes New Investment in Nucor Corporation $NUE

FourThought Financial Partners LLC bought a new position in shares of Nucor Corporation (NYSE:NUE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,108 shares of the basic materials company’s stock, valued at approximately $421,000.

A number of other institutional investors also recently modified their holdings of NUE. Vanguard Group Inc. increased its position in Nucor by 0.7% during the second quarter. Vanguard Group Inc. now owns 29,171,068 shares of the basic materials company’s stock worth $3,778,820,000 after acquiring an additional 211,741 shares during the period. State Street Corp boosted its holdings in Nucor by 3.1% in the 2nd quarter. State Street Corp now owns 12,501,779 shares of the basic materials company’s stock valued at $1,626,321,000 after purchasing an additional 371,911 shares during the period. Berkshire Hathaway Inc acquired a new position in shares of Nucor during the 2nd quarter worth approximately $856,792,000. Norges Bank acquired a new position in shares of Nucor during the 2nd quarter worth approximately $479,858,000. Finally, Capital World Investors increased its holdings in shares of 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 purchasing an additional 509,019 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In related news, 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 transaction of $1,460,741.04. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Allen C. Behr sold 7,568 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were 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 directly owned 67,711 shares in the company, valued at $12,763,523.50. This trade represents a 10.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,351 shares of company stock worth $6,206,158 over the last 90 days. Corporate insiders own 0.71% of the company’s stock.

Nucor Stock Performance

NYSE NUE opened at $170.70 on Wednesday. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $38.88 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 0.61 and a beta of 1.83. The firm’s 50 day simple moving average is $177.09 and its 200 day simple moving average is $158.21. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $196.90.

Nucor (NYSE:NUE) last announced its quarterly earnings data 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). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period last year, the business earned $1.22 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. As a group, research analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor announced that its board has authorized 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 repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Nucor Dividend Announcement

The firm also recently declared 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 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%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on NUE. BMO Capital Markets lifted their price target on shares of Nucor from $190.00 to $196.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. UBS Group downgraded Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target on the stock. in a research report on Wednesday, January 28th. Wells Fargo & Company lifted their price objective on Nucor from $184.00 to $194.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. 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, Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $187.90.

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.