Nucor Corporation $NUE Shares Bought by Inceptionr LLC

Inceptionr LLC raised its holdings in Nucor Corporation (NYSE:NUE) by 33.2% in the fourth quarter, Holdings Channel reports. The fund owned 8,203 shares of the basic materials company’s stock after buying an additional 2,043 shares during the period. Inceptionr LLC’s holdings in Nucor were worth $1,338,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Stance Capital LLC acquired a new stake in Nucor in the 3rd quarter valued at about $25,000. Vision Financial Markets LLC raised its holdings in Nucor by 281.7% in the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. Caitlin John LLC acquired a new stake in Nucor in the 3rd quarter valued at about $41,000. Geneos Wealth Management Inc. raised its holdings in 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 last quarter. Finally, Ares Financial Consulting LLC acquired a new stake in Nucor in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Down 1.5%

Shares of NYSE NUE opened at $250.59 on Thursday. The company has a 50 day simple moving average of $218.92 and a 200-day simple moving average of $187.36. The company has a market capitalization of $57.07 billion, a P/E ratio of 24.81, a P/E/G ratio of 0.67 and a beta of 1.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. Nucor Corporation has a 1 year low of $115.66 and a 1 year high of $264.67.

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

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.56 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

Nucor declared that its board has authorized a share buyback program on Friday, February 20th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have commented on NUE. Wells Fargo & Company increased their price objective on shares of Nucor from $244.00 to $292.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. CICC Research began coverage on shares of Nucor in a report on Monday, May 25th. They issued an “outperform” rating for the company. BNP Paribas Exane increased their price objective on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Citigroup raised their price target on shares of Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group raised their price target on shares of Nucor from $240.00 to $260.00 in a report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $259.17.

More Nucor News

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?

Insider Buying and Selling at Nucor

In related news, EVP Bradley Ford sold 2,240 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total transaction of $519,971.20. Following the completion of the transaction, the executive vice president owned 43,649 shares of the company’s stock, valued at approximately $10,132,242.37. This trade represents a 4.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 10,096 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the transaction, the executive vice president directly owned 62,871 shares of the company’s stock, valued at $14,213,875.68. The trade was a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 82,378 shares of company stock worth $18,963,930. Insiders own 0.62% of the company’s stock.

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.