Fox Run Management L.L.C. Takes Position in Nucor Corporation $NUE

Fox Run Management L.L.C. acquired a new position in Nucor Corporation (NYSE:NUE) in the third quarter, Holdings Channel reports. The firm acquired 11,282 shares of the basic materials company’s stock, valued at approximately $1,528,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Nucor by 0.7% in the second quarter. Vanguard Group Inc. now owns 29,171,068 shares of the basic materials company’s stock worth $3,778,820,000 after buying an additional 211,741 shares during the period. State Street Corp increased its holdings in shares of Nucor by 3.1% in the 2nd quarter. State Street Corp now owns 12,501,779 shares of the basic materials company’s stock valued at $1,626,321,000 after purchasing an additional 371,911 shares during the period. Berkshire Hathaway Inc purchased a new position in Nucor during the second quarter valued at approximately $856,792,000. Norges Bank purchased a new stake in Nucor in the 2nd quarter worth approximately $479,858,000. Finally, Nordea Investment Management AB lifted its position in Nucor by 2.0% in the 3rd quarter. Nordea Investment Management AB now owns 1,892,423 shares of the basic materials company’s stock worth $255,155,000 after buying an additional 36,323 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Trading Down 2.1%

Shares of NYSE:NUE opened at $175.13 on Wednesday. The stock’s 50-day moving average is $174.84 and its 200-day moving average is $156.08. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $196.90. The company has a market cap of $40.08 billion, a P/E ratio of 23.23, a P/E/G ratio of 0.64 and a beta of 1.86. 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 (NYSE:NUE) last issued its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share. Equities research analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor declared that its board has approved a share 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 repurchase up to 9.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, March 31st. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

Insider Activity at Nucor

In other news, EVP Thomas J. Batterbee sold 2,000 shares of Nucor stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total transaction of $330,560.00. Following the sale, the executive vice president owned 17,952 shares of the company’s stock, valued at approximately $2,967,106.56. This trade represents a 10.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel R. Needham sold 3,881 shares of the firm’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. In the last quarter, insiders have sold 34,351 shares of company stock worth $6,206,158. 0.71% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on NUE shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Nucor in a research note on Wednesday, October 29th. Citigroup lifted their target price on shares of Nucor from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Jefferies Financial Group increased their price target on shares of Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. BNP Paribas Exane lifted their price objective on shares of Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Finally, UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price on the stock. in a research report on Wednesday, January 28th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.36.

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.