Heartland Advisors Inc. Buys 11,352 Shares of Nucor Corporation $NUE

Heartland Advisors Inc. increased its stake in shares of Nucor Corporation (NYSE:NUE) by 32.2% in the fourth quarter, Holdings Channel reports. The firm owned 46,629 shares of the basic materials company’s stock after buying an additional 11,352 shares during the quarter. Heartland Advisors Inc.’s holdings in Nucor were worth $7,606,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Stance Capital LLC acquired a new position in Nucor in the third quarter valued at about $25,000. Vision Financial Markets LLC grew its position in shares of Nucor by 281.7% during the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after buying an additional 200 shares during the period. Caitlin John LLC bought a new stake in shares of Nucor in the 3rd quarter valued at about $41,000. Geneos Wealth Management Inc. raised its position in shares of Nucor by 81.8% in the 1st 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 during the period. Finally, Ares Financial Consulting LLC acquired a new stake in shares of Nucor in the 4th quarter valued at approximately $45,000. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE stock opened at $250.59 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. Nucor Corporation has a 52 week low of $115.66 and a 52 week high of $264.67. The company’s 50 day moving average price is $218.92 and its two-hundred day moving average price is $187.36. The company has a market capitalization of $57.07 billion, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 0.67 and a beta of 1.88.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same quarter in the prior year, the company earned $0.77 earnings per share. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, analysts expect that Nucor Corporation will post 14.84 earnings per share for the current fiscal year.

Nucor declared that its Board of Directors has authorized a stock repurchase 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 purchase up to 9.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be paid 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 0.9%. Nucor’s dividend payout ratio is presently 22.18%.

Insider Activity

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president owned 97,865 shares of the company’s stock, valued at $25,294,187.90. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Daniel R. Needham sold 12,888 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $226.00, for a total value of $2,912,688.00. Following the completion of the sale, the executive vice president owned 89,724 shares in the company, valued at approximately $20,277,624. This trade represents a 12.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NUE shares. Weiss Ratings upgraded shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, May 14th. Zacks Research upgraded shares of Nucor from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Wells Fargo & Company lifted their price target on shares of Nucor from $244.00 to $292.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and boosted their price target for the company from $190.00 to $224.00 in a report on Tuesday, April 28th. Finally, CICC Research began coverage on shares of Nucor in a research report on Monday, May 25th. They issued an “outperform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.17.

Trending Headlines about 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, signaling confidence in further upside for the steelmaker. Benzinga
• Positive Sentiment: Nucor announced its 213th consecutive quarterly cash dividend of $0.56 per share, reinforcing the company’s strong cash return profile and financial stability. Nucor Announces 213th Consecutive Cash Dividend
• Neutral Sentiment: The dividend declaration was also confirmed in a separate company release, which should not materially change the outlook but reinforces management’s commitment to returning capital to shareholders. Nucor Announces 213th Consecutive Cash Dividend
• Neutral Sentiment: Commentary noting that Nucor has outperformed the materials sector and that analysts remain bullish adds to the positive tone, but it is more of a sentiment check than a new catalyst. Nucor Stock: Is NUE Outperforming the Materials Sector?

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.