Pittenger & Anderson Inc. Has $2.82 Million Stake in Nucor Corporation $NUE

Pittenger & Anderson Inc. raised its position in Nucor Corporation (NYSE:NUE) by 930.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,820 shares of the basic materials company’s stock after buying an additional 18,800 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Nucor were worth $2,820,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hudson Capital Management LLC increased its holdings in shares of Nucor by 6.6% during the second quarter. Hudson Capital Management LLC now owns 34,784 shares of the basic materials company’s stock worth $4,506,000 after buying an additional 2,154 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Nucor by 138.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 121,543 shares of the basic materials company’s stock worth $15,745,000 after acquiring an additional 70,581 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Nucor in the 2nd quarter worth about $236,000. Oppenheimer Asset Management Inc. bought a new position in Nucor in the second quarter valued at about $5,225,000. Finally, Allstate Corp acquired a new stake in shares of Nucor during the third quarter valued at about $1,085,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NUE shares. Wall Street Zen raised Nucor from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. Citigroup lifted their price target on shares of Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. 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. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Nucor in a research report on Wednesday, October 29th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and an average target price of $179.36.

Nucor Stock Down 1.2%

Shares of Nucor stock opened at $177.67 on Friday. The stock’s 50-day moving average is $166.44 and its 200 day moving average is $150.62. Nucor Corporation has a one year low of $97.59 and a one year high of $183.32. The firm has a market cap of $40.66 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 0.98 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.51.

Nucor (NYSE:NUE) last issued 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 business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. Nucor’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share. Equities research analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.3%. This is an increase from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, December 31st. Nucor’s payout ratio is presently 29.71%.

Insider Activity

In other news, 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 transaction of $330,560.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John J. Hollatz sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $149.88, for a total value of $1,049,160.00. Following the completion of the sale, the executive vice president directly owned 96,550 shares of the company’s stock, valued at $14,470,914. The trade was a 6.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 14,950 shares of company stock worth $2,319,166. Company insiders own 0.46% of the company’s stock.

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.