Barclays PLC Has $103.57 Million Stake in Nucor Corporation $NUE

Barclays PLC trimmed its stake in Nucor Corporation (NYSE:NUE) by 1.1% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 764,764 shares of the basic materials company’s stock after selling 8,733 shares during the period. Barclays PLC’s holdings in Nucor were worth $103,572,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new stake in shares of Nucor in the third quarter valued at about $1,528,000. Fidelis Capital Partners LLC bought a new position in Nucor during the second quarter valued at about $236,000. Penserra Capital Management LLC increased its stake in Nucor by 15,814.3% during the third quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock valued at $452,000 after acquiring an additional 3,321 shares during the period. Allstate Corp acquired a new position in Nucor in the 3rd quarter valued at approximately $1,085,000. Finally, Peterson Wealth Services raised its holdings in Nucor by 587,032.0% in the 3rd quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock valued at $19,879,000 after acquiring an additional 146,758 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Kenneth Rex Query sold 7,452 shares of the business’s stock in a transaction 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 owned 76,628 shares in the company, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas J. Batterbee sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total transaction of $330,560.00. Following the completion of the sale, the executive vice president directly owned 17,952 shares in the company, valued at approximately $2,967,106.56. The trade was a 10.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,351 shares of company stock worth $6,206,158 over the last 90 days. 0.46% of the stock is currently owned by company insiders.

Nucor Trading Down 2.0%

Shares of NUE opened at $168.58 on Friday. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The stock has a market cap of $38.40 billion, a PE ratio of 22.36, a PEG ratio of 0.61 and a beta of 1.83. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $196.90. The stock has a 50 day simple moving average of $176.90 and a 200-day simple moving average of $157.76.

Nucor (NYSE:NUE) last announced 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). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the firm earned $1.22 EPS. Nucor’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, sell-side analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

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

Nucor Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. BMO Capital Markets lifted their price objective on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. The Goldman Sachs Group raised their target price on Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. Seaport Research Partners lifted their price target on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Wall Street Zen lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Saturday. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $187.90.

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.