Nucor Corporation $NUE Shares Sold by US Bancorp DE

US Bancorp DE lowered its position in Nucor Corporation (NYSE:NUE) by 9.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,028 shares of the basic materials company’s stock after selling 6,667 shares during the quarter. US Bancorp DE’s holdings in Nucor were worth $10,117,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in NUE. Integrated Wealth Concepts LLC increased its stake in shares of Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 568 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Nucor in the first quarter valued at approximately $259,000. Geneos Wealth Management Inc. boosted its holdings in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Nucor in the second quarter valued at approximately $390,000. Finally, Cerity Partners LLC boosted its holdings in shares of Nucor by 51.9% in the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after acquiring an additional 13,877 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 7,568 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were 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 owned 67,711 shares in the company, valued at approximately $12,763,523.50. This represents a 10.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 7,452 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the completion of the sale, the executive vice president owned 76,628 shares of the company’s stock, valued at approximately $15,020,620.56. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 22,520 shares of company stock valued at $4,245,334. 0.62% of the stock is owned by insiders.

Nucor Trading Up 0.3%

Shares of NYSE:NUE opened at $225.93 on Friday. The stock has a market capitalization of $51.43 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 0.76 and a beta of 1.87. Nucor Corporation has a 1-year low of $106.21 and a 1-year high of $227.96. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.57 and a current ratio of 2.90. The company has a 50 day moving average price of $180.91 and a 200 day moving average price of $169.01.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The firm had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. On average, research analysts anticipate that Nucor Corporation will post 13.64 EPS for the current fiscal year.

Nucor announced that its board has initiated a share repurchase program on Friday, February 20th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the basic materials company to buy up to 9.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Nucor Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Nucor’s dividend payout ratio is 22.18%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NUE shares. BNP Paribas Exane increased their price objective on shares of Nucor from $185.00 to $210.00 and gave the company an “outperform” rating in a report on Monday, April 20th. Morgan Stanley increased their price objective on shares of Nucor from $180.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday. Citigroup increased their price objective on shares of Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday. The Goldman Sachs Group increased their price objective on shares of Nucor from $240.00 to $260.00 in a report on Friday. Finally, BMO Capital Markets increased their price objective on shares of Nucor from $196.00 to $235.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $240.00.

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.