Berkshire Hathaway Inc Sells 206,363 Shares of Nucor Corporation $NUE

Berkshire Hathaway Inc cut its position in shares of Nucor Corporation (NYSE:NUE) by 3.1% during the third quarter, Holdings Channel reports. The institutional investor owned 6,407,749 shares of the basic materials company’s stock after selling 206,363 shares during the quarter. Nucor comprises 0.3% of Berkshire Hathaway Inc’s holdings, making the stock its 27th biggest position. Berkshire Hathaway Inc’s holdings in Nucor were worth $867,801,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its position in shares of Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after acquiring an additional 568 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Nucor in the first quarter valued at $259,000. Geneos Wealth Management Inc. lifted its position in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 153 shares during the period. Sivia Capital Partners LLC bought a new position in Nucor in the second quarter worth $390,000. Finally, AE Wealth Management LLC boosted its stake in Nucor by 32.4% during the second quarter. AE Wealth Management LLC now owns 3,771 shares of the basic materials company’s stock worth $488,000 after buying an additional 922 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NUE shares. The Goldman Sachs Group raised their price objective on shares of Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, January 16th. BNP Paribas Exane increased their price target on shares of Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Morgan Stanley restated an “equal weight” rating and set a $180.00 price target (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. Finally, Seaport Research Partners increased their target price on Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $187.90.

Nucor Stock Down 1.3%

NUE opened at $163.52 on Friday. The firm has a market cap of $37.25 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 0.58 and a beta of 1.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. The firm’s 50-day simple moving average is $177.20 and its 200-day simple moving average is $158.52. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $196.90.

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

Nucor Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 1.4%. Nucor’s payout ratio is 29.71%.

Nucor declared that its board has initiated a share buyback plan on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Kenneth Rex Query sold 7,452 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the firm’s stock in a transaction on 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 sale, the executive vice president directly owned 67,711 shares of the company’s stock, valued at $12,763,523.50. This represents a 10.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 34,351 shares of company stock valued at $6,206,158 over the last quarter. 0.46% of the stock is owned by insiders.

Nucor 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.