Nucor Corporation (NYSE:NUE) Short Interest Down 17.9% in February

Nucor Corporation (NYSE:NUE) saw a significant decrease in short interest in February. As of February 13th, there was short interest totaling 4,087,548 shares, a decrease of 17.9% from the January 29th total of 4,976,797 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,005,094 shares, the short-interest ratio is presently 2.0 days. Based on an average daily trading volume, of 2,005,094 shares, the short-interest ratio is presently 2.0 days. Approximately 1.8% of the shares of the stock are sold short.

Nucor Trading Down 1.7%

Shares of Nucor stock traded down $3.03 on Tuesday, reaching $177.54. 1,515,818 shares of the company’s stock were exchanged, compared to its average volume of 1,737,703. The firm’s 50-day moving average is $176.46 and its two-hundred day moving average is $157.28. The company 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. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. Nucor has a 52 week low of $97.59 and a 52 week high of $196.90.

Nucor (NYSE:NUE) last issued its 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). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The company 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 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. Sell-side analysts predict that Nucor 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. Investors of record on Tuesday, March 31st will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s payout ratio is presently 29.71%.

Nucor declared that its board has authorized a share repurchase program on Friday, February 20th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits 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 believes its shares are undervalued.

Insider Transactions at Nucor

In related news, EVP Allen C. Behr sold 7,568 shares of the firm’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 of the company’s stock, valued at $12,763,523.50. This trade represents a 10.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total value of $1,460,741.04. Following the sale, the executive vice president owned 76,628 shares in the company, valued at $15,020,620.56. This represents a 8.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 34,351 shares of company stock valued at $6,206,158 over the last quarter. 0.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Nucor

Several hedge funds and other institutional investors have recently modified their holdings of the company. Stance Capital LLC bought a new position in shares of Nucor in the 3rd quarter worth $25,000. Strive Financial Group LLC bought a new stake in Nucor during the 4th quarter valued at $27,000. IMA Advisory Services Inc. raised its holdings in Nucor by 51.4% during the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after buying an additional 75 shares during the last quarter. Motiv8 Investments LLC bought a new position in shares of Nucor in the fourth quarter valued at $32,000. Finally, Mcguire Capital Advisors Inc. acquired a new position in shares of Nucor during the fourth quarter valued at about $32,000. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NUE. Wall Street Zen upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. Jefferies Financial Group increased their price objective on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, January 12th. Wells Fargo & Company raised their target price on Nucor from $184.00 to $194.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Seaport Research Partners raised their price objective on Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Nucor currently has a consensus 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.