Penserra Capital Management LLC Has $452,000 Stock Holdings in Nucor Corporation $NUE

Penserra Capital Management LLC raised its position in shares of Nucor Corporation (NYSE:NUE) by 15,814.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,342 shares of the basic materials company’s stock after buying an additional 3,321 shares during the period. Penserra Capital Management LLC’s holdings in Nucor were worth $452,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of NUE. IMA Advisory Services Inc. lifted its stake in Nucor by 51.4% in the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 75 shares in the last quarter. AXS Investments LLC purchased a new stake in shares of Nucor in the third quarter worth approximately $37,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Nucor during the second quarter worth approximately $39,000. Geneos Wealth Management Inc. grew its position in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 153 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its stake in Nucor by 45.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 320 shares of the basic materials company’s stock valued at $44,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, EVP Daniel R. Needham sold 3,881 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the sale, the executive vice president directly owned 88,298 shares of the company’s stock, valued at approximately $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total value of $1,426,568.00. Following the transaction, the executive vice president directly owned 67,711 shares of the company’s stock, valued at $12,763,523.50. This represents a 10.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 33,899 shares of company stock valued at $5,794,577 over the last three months. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of research reports. The Goldman Sachs Group lifted their target price on shares of Nucor from $182.00 to $196.00 and gave the company a “buy” rating in a research note on Friday, January 16th. BNP Paribas Exane lifted their price objective on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Citigroup upped their target price on Nucor from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wells Fargo & Company raised their price target on Nucor from $176.00 to $184.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Nucor in a research note on Wednesday, October 29th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $179.36.

Nucor Stock Performance

Shares of NYSE NUE opened at $192.91 on Monday. The business’s 50-day simple moving average is $169.44 and its 200-day simple moving average is $152.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $193.09. The firm has a market cap of $44.15 billion, a price-to-earnings ratio of 25.58, a P/E/G ratio of 0.70 and a beta of 1.86.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the prior year, the business earned $1.22 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, equities research analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Nucor’s previous quarterly dividend of $0.55. Nucor’s dividend payout ratio (DPR) is presently 29.71%.

Nucor 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.