Nkcfo LLC Increases Stake in Nucor Corporation $NUE

Nkcfo LLC boosted its holdings in Nucor Corporation (NYSE:NUE) by 100.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,600 shares of the basic materials company’s stock after buying an additional 19,800 shares during the period. Nucor makes up 1.9% of Nkcfo LLC’s investment portfolio, making the stock its 15th biggest holding. Nkcfo LLC’s holdings in Nucor were worth $6,459,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of NUE. Fifth Third Bancorp boosted its position in shares of Nucor by 6.6% in the fourth quarter. Fifth Third Bancorp now owns 10,558 shares of the basic materials company’s stock valued at $1,722,000 after acquiring an additional 651 shares during the period. Danske Bank A S lifted its stake in Nucor by 7.8% in the 4th quarter. Danske Bank A S now owns 193,357 shares of the basic materials company’s stock worth $31,538,000 after purchasing an additional 13,945 shares in the last quarter. Mutual Advisors LLC boosted its holdings in Nucor by 1.4% in the 4th quarter. Mutual Advisors LLC now owns 13,286 shares of the basic materials company’s stock valued at $2,167,000 after purchasing an additional 180 shares during the period. New York State Teachers Retirement System grew its position in shares of Nucor by 4.6% during the 4th quarter. New York State Teachers Retirement System now owns 173,032 shares of the basic materials company’s stock valued at $28,223,000 after purchasing an additional 7,547 shares in the last quarter. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Nucor in the fourth quarter worth $76,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Up 1.3%

NUE stock opened at $225.31 on Friday. The company has a market capitalization of $51.29 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 0.78 and a beta of 1.73. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.57 and a current ratio of 2.90. Nucor Corporation has a one year low of $106.21 and a one year high of $227.48. The company’s 50 day moving average price is $180.91 and its two-hundred day moving average price is $168.78.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) 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 business had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. As a group, analysts predict that Nucor Corporation will post 12.56 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be paid a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. Nucor’s dividend payout ratio (DPR) is presently 22.18%.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Seaport Research Partners restated a “buy” rating and set a $245.00 target price on shares of Nucor in a research report on Thursday. BMO Capital Markets upped their price objective on shares of Nucor from $196.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup raised their target price on shares of Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of Nucor from $212.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, KeyCorp started coverage on shares of Nucor in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $238.00.

Insider Buying and Selling

In other news, EVP Allen C. Behr sold 7,568 shares of the firm’s stock in a transaction dated 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 directly owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kenneth Rex Query sold 7,452 shares of Nucor stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the sale, the executive vice president directly owned 76,628 shares in the company, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,520 shares of company stock valued at $4,245,334 in the last ninety days. 0.62% of the stock is currently owned by corporate insiders.

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.