CSM Advisors LLC Boosts Stock Position in Nucor Corporation $NUE

CSM Advisors LLC raised its holdings in Nucor Corporation (NYSE:NUE) by 29.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,317 shares of the basic materials company’s stock after purchasing an additional 24,962 shares during the period. CSM Advisors LLC’s holdings in Nucor were worth $14,807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Whittier Trust Co. increased its stake in shares of Nucor by 5.6% in the third quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company’s stock worth $184,000 after buying an additional 70 shares during the last quarter. HUB Investment Partners LLC boosted its stake in Nucor by 1.9% during the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company’s stock valued at $531,000 after acquiring an additional 75 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in Nucor by 1.9% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 4,326 shares of the basic materials company’s stock worth $560,000 after acquiring an additional 79 shares in the last quarter. Versant Capital Management Inc grew its holdings in Nucor by 23.2% during the 3rd quarter. Versant Capital Management Inc now owns 425 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 80 shares in the last quarter. Finally, True North Advisors LLC increased its position in shares of Nucor by 3.9% in the 3rd quarter. True North Advisors LLC now owns 2,195 shares of the basic materials company’s stock worth $297,000 after purchasing an additional 82 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Trading Down 1.3%

Nucor stock opened at $163.52 on Friday. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $196.90. The firm’s 50-day moving average is $177.20 and its 200-day moving average is $158.52. 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 company has a market cap of $37.25 billion, a P/E ratio of 21.69, a PEG ratio of 0.58 and a beta of 1.83.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share 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 business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the prior year, the company earned $1.22 EPS. Nucor’s quarterly 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 declared that its board has approved a stock repurchase program on Friday, February 20th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the basic materials company to buy up to 9.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.4%. Nucor’s dividend payout ratio is 29.71%.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 3,881 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $178.00, for a total transaction of $690,818.00. Following the completion of the transaction, the executive vice president directly owned 88,298 shares in the company, valued at $15,717,044. This represents a 4.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction on 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 directly 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. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,351 shares of company stock valued at $6,206,158 over the last quarter. Company insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of recent analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. BNP Paribas Exane boosted their price objective on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. Jefferies Financial Group increased their target price on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Finally, Seaport Research Partners lifted their target price on Nucor from $170.00 to $185.00 and gave the stock 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 given a Hold rating to the company. Based on data from MarketBeat, Nucor currently 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.