Truist Financial Corp Grows Holdings in Nucor Corporation $NUE

Truist Financial Corp boosted its position in shares of Nucor Corporation (NYSE:NUE) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 168,861 shares of the basic materials company’s stock after acquiring an additional 12,627 shares during the period. Truist Financial Corp’s holdings in Nucor were worth $27,543,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Avidian Wealth Enterprises LLC bought a new position in shares of Nucor in the fourth quarter worth approximately $264,000. Reynders McVeigh Capital Management LLC bought a new stake in shares of Nucor during the 4th quarter valued at $228,000. Woodard & Co. Asset Management Group Inc. ADV raised its position in shares of Nucor by 12.7% during the 4th quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 19,872 shares of the basic materials company’s stock valued at $3,241,000 after purchasing an additional 2,236 shares during the period. Pittenger & Anderson Inc. lifted its stake in shares of Nucor by 3.1% during the 4th quarter. Pittenger & Anderson Inc. now owns 21,465 shares of the basic materials company’s stock valued at $3,501,000 after buying an additional 645 shares in the last quarter. Finally, CX Institutional boosted its holdings in Nucor by 20.9% in the 4th quarter. CX Institutional now owns 39,745 shares of the basic materials company’s stock worth $6,483,000 after buying an additional 6,879 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of analyst reports. BMO Capital Markets increased their price target on Nucor from $196.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. BNP Paribas Exane boosted their price objective on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday. Wall Street Zen raised Nucor from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Wells Fargo & Company lifted their target price on Nucor from $213.00 to $244.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, KeyCorp assumed coverage on Nucor in a report on Wednesday, March 25th. They issued a “sector weight” rating on the stock. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $243.80.

Insider Buying and Selling at Nucor

In related news, EVP David A. Sumoski sold 33,068 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $225.67, for a total value of $7,462,455.56. Following the sale, the executive vice president owned 243,339 shares in the company, valued at approximately $54,914,312.13. The trade was a 11.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Daniel R. Needham sold 12,888 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the transaction, the executive vice president owned 89,724 shares of the company’s stock, valued at $20,277,624. This trade represents a 12.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 74,530 shares of company stock worth $16,612,863. Company insiders own 0.62% of the company’s stock.

Nucor Stock Up 1.0%

NUE opened at $234.30 on Thursday. The firm has a 50-day simple moving average of $183.07 and a two-hundred day simple moving average of $170.61. Nucor Corporation has a 52 week low of $106.21 and a 52 week high of $235.44. The company has a market capitalization of $53.34 billion, a PE ratio of 23.20, a price-to-earnings-growth ratio of 0.67 and a beta of 1.87. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30.

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

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s dividend payout ratio is 22.18%.

Nucor declared that its Board of Directors has approved a share buyback plan on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Key Stories Impacting Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Analyst upgrades and higher targets lift sentiment — several firms have raised price targets (BNP Paribas Exane raised to $248 and kept an “outperform”), supporting upside expectations for the stock. BNP Paribas raises price target
• Positive Sentiment: Quarterly beat and revenue strength — Nucor reported better?than?expected Q1 EPS ($3.23 vs. $2.82 est.) and ~21% YoY revenue growth, which underpins the analyst upgrades and improves near?term earnings visibility.
• Positive Sentiment: Share repurchase and dividend support capital returns — the board authorized a $4.0B buyback (?9.7% of shares) and the company pays a growing quarterly dividend, both shareholder?friendly moves that can sustain buy?side interest.
• Neutral Sentiment: Solid balance sheet and institutional ownership — modest leverage (D/E ~0.30), healthy liquidity ratios and ~76% institutional ownership reduce downside from headline noise but can limit volatile flows.
• Negative Sentiment: Large insider sales — EVP David Sumoski sold 33,068 shares (~$7.46M) on Apr 30. Form 4 — Sumoski
• Negative Sentiment: Additional insider trimming — EVP Daniel R. Needham sold 12,888 shares on May 1. Form 4 — Needham
• Negative Sentiment: More insider sales — EVP Noah C. Hanners sold 6,472 shares on May 1. Form 4 — Hanners
• Negative Sentiment: Other recent executive sales — Allen C. Behr (10,096 shares) and Michael D. Keller (4,554 shares) also sold shares in early May, further increasing headline selling. Form 4 — Behr Form 4 — Keller

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.