Cambria Investment Management L.P. Sells 50,023 Shares of Nucor Corporation $NUE

Cambria Investment Management L.P. reduced its holdings in Nucor Corporation (NYSE:NUE) by 87.4% during the 3rd quarter, Holdings Channel reports. The fund owned 7,225 shares of the basic materials company’s stock after selling 50,023 shares during the quarter. Cambria Investment Management L.P.’s holdings in Nucor were worth $978,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NUE. Strategic Advocates LLC bought a new stake in Nucor during the 3rd quarter worth approximately $87,000. CIBC Private Wealth Group LLC increased its holdings in Nucor by 10.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 17,405 shares of the basic materials company’s stock valued at $2,357,000 after purchasing an additional 1,599 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in Nucor in the 3rd quarter valued at $18,982,000. Portus Wealth Advisors LLC bought a new position in Nucor in the 3rd quarter valued at $897,000. Finally, Centaurus Financial Inc. boosted its stake in Nucor by 16.9% in the third quarter. Centaurus Financial Inc. now owns 6,997 shares of the basic materials company’s stock worth $948,000 after purchasing an additional 1,014 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Wells Fargo & Company increased their target price on Nucor from $184.00 to $194.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Wall Street Zen cut Nucor from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. UBS Group upped their price target on shares of Nucor from $183.00 to $184.00 and gave the stock a “neutral” rating in a research report on Monday. BMO Capital Markets increased their price objective on shares of Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Finally, Morgan Stanley restated an “equal weight” rating and issued a $180.00 price objective (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $188.00.

Insider Buying and Selling at Nucor

In other news, EVP Kenneth Rex Query sold 7,452 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 76,628 shares of the company’s stock, valued at approximately $15,020,620.56. This trade represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen C. Behr sold 7,568 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the completion of the transaction, the executive vice president directly owned 67,711 shares in the company, valued at $12,763,523.50. This trade represents a 10.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,401 shares of company stock valued at $5,266,712. 0.46% of the stock is currently owned by company insiders.

Nucor Stock Up 0.4%

NYSE NUE opened at $161.77 on Friday. The stock has a fifty day moving average of $176.74 and a 200-day moving average of $158.80. The stock has a market capitalization of $36.85 billion, a P/E ratio of 21.46, a price-to-earnings-growth ratio of 0.58 and a beta of 1.83. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $196.90. 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.18). The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $1.22 EPS. On average, equities research analysts forecast that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company 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. This represents a $2.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s payout ratio is currently 29.71%.

Nucor announced 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 reacquire 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 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.