Nucor Corporation $NUE Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its position in shares of Nucor Corporation (NYSE:NUE) by 47.7% in the third quarter, Holdings Channel.com reports. The firm owned 17,482 shares of the basic materials company’s stock after selling 15,936 shares during the period. Handelsbanken Fonder AB’s holdings in Nucor were worth $2,368,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NUE. Fox Run Management L.L.C. bought a new stake in shares of Nucor during the third quarter worth $1,528,000. Fidelis Capital Partners LLC acquired a new position in Nucor in the second quarter valued at approximately $236,000. Penserra Capital Management LLC boosted its stake in Nucor by 15,814.3% in the third quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock valued at $452,000 after acquiring an additional 3,321 shares during the last quarter. Allstate Corp bought a new position in shares of Nucor in the 3rd quarter worth $1,085,000. Finally, Peterson Wealth Services boosted its holdings in Nucor by 587,032.0% during the third quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock worth $19,879,000 after buying an additional 146,758 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Down 1.7%

NUE stock opened at $177.54 on Wednesday. The firm has a 50-day moving average price of $176.46 and a 200-day moving average price of $157.28. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $196.90. 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 stock has a market capitalization of $40.44 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 0.65 and a beta of 1.83.

Nucor (NYSE:NUE) last released 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). The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.Nucor’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.22 earnings per share. As a group, equities research analysts anticipate that Nucor Corporation will post 7.64 EPS for the current fiscal year.

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

Nucor Dividend Announcement

The company 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. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, March 31st. Nucor’s dividend payout ratio is presently 29.71%.

Insider Transactions at Nucor

In related news, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the sale, the executive vice president owned 67,711 shares in the company, valued at $12,763,523.50. The trade was a 10.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Thomas J. Batterbee sold 2,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $2,967,106.56. This represents a 10.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 34,351 shares of company stock worth $6,206,158. Insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BNP Paribas Exane increased their target price on Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, January 2nd. Seaport Research Partners increased their price objective on Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a report on Friday, January 30th. Morgan Stanley reissued an “equal weight” rating and set a $180.00 price target (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Wall Street Zen raised shares of Nucor from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Finally, The Goldman Sachs Group lifted their price target on Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $180.27.

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.