NFJ Investment Group LLC Invests $19.63 Million in Nucor Corporation $NUE

NFJ Investment Group LLC purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 120,328 shares of the basic materials company’s stock, valued at approximately $19,627,000. NFJ Investment Group LLC owned about 0.05% of Nucor as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. Focus Partners Wealth grew its stake in shares of Nucor by 118.6% during the fourth quarter. Focus Partners Wealth now owns 30,261 shares of the basic materials company’s stock worth $4,939,000 after acquiring an additional 16,420 shares during the last quarter. Icon Wealth Advisors LLC acquired a new stake in shares of Nucor during the fourth quarter worth about $623,000. Bornite Capital Management LP acquired a new stake in shares of Nucor during the fourth quarter worth about $48,933,000. Aptus Capital Advisors LLC lifted its holdings in shares of Nucor by 4.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 4,401 shares of the basic materials company’s stock worth $718,000 after purchasing an additional 201 shares during the period. Finally, Kestra Advisory Services LLC lifted its holdings in shares of Nucor by 25.9% during the fourth quarter. Kestra Advisory Services LLC now owns 19,932 shares of the basic materials company’s stock worth $3,251,000 after purchasing an additional 4,098 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 2.0%

Shares of NYSE:NUE opened at $266.06 on Friday. Nucor Corporation has a 12-month low of $117.21 and a 12-month high of $268.80. The company has a market capitalization of $60.59 billion, a PE ratio of 26.34, a PEG ratio of 0.68 and a beta of 1.88. The business has a 50 day moving average of $222.60 and a two-hundred day moving average of $188.67. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same period in the previous year, the company posted $0.77 earnings per share. Nucor’s revenue for the quarter was up 21.3% on a year-over-year basis. As a group, analysts forecast that Nucor Corporation will post 15.71 EPS for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.8%. Nucor’s payout ratio is presently 22.18%.

Nucor declared that its Board of Directors has authorized a stock buyback program on Friday, February 20th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of research reports. Weiss Ratings raised Nucor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. Barclays initiated coverage on Nucor in a report on Thursday, May 21st. They set an “overweight” rating and a $270.00 target price for the company. Argus lifted their target price on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. JPMorgan Chase & Co. lifted their target price on Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, BNP Paribas Exane lifted their target price on Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $261.54.

Key Headlines Impacting Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: JPMorgan raised its price target on Nucor to $282 from $240 and reiterated an Overweight rating, citing expectations for strong second-quarter results. JPMorgan Raises Nucor (NUE) Forecast Ahead of Expected Strong Q2 Results
• Positive Sentiment: BofA also boosted its price target on Nucor to $290 from $265, reinforcing a constructive view on the company’s earnings and valuation outlook. BofA adjusts price target on Nucor to $290 from $265
• Positive Sentiment: Recent coverage notes that Nucor has delivered a very strong one-year share performance, keeping investor attention on whether the rally can continue. Nucor (NUE) Stock After 124% One-Year Surge Is There Still Value Here
• Neutral Sentiment: An article asking whether Nucor is still a good stock to buy now reflects continued investor debate about valuation after the stock’s sharp run-up. Is Nucor Corporation (NUE) A Good Stock To Buy Now?

Insider Buying and Selling

In other Nucor news, EVP Noah C. Hanners sold 6,472 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $226.50, for a total value of $1,465,908.00. Following the completion of the transaction, the executive vice president directly owned 50,377 shares of the company’s stock, valued at approximately $11,410,390.50. The trade was a 11.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP David A. Sumoski sold 33,068 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $225.67, for a total value of $7,462,455.56. Following the completion of the transaction, the executive vice president directly owned 243,339 shares of the company’s stock, valued at $54,914,312.13. The trade was a 11.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 82,378 shares of company stock valued at $18,963,930 in the last three months. 0.62% 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.