Adams Natural Resources Fund Inc. Sells 2,000 Shares of Nucor Corporation $NUE

Adams Natural Resources Fund Inc. cut its stake in shares of Nucor Corporation (NYSE:NUE) by 3.7% during the 4th quarter, HoldingsChannel reports. The firm owned 52,000 shares of the basic materials company’s stock after selling 2,000 shares during the period. Nucor comprises 1.3% of Adams Natural Resources Fund Inc.’s investment portfolio, making the stock its 21st largest position. Adams Natural Resources Fund Inc.’s holdings in Nucor were worth $8,482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NUE. Integrated Wealth Concepts LLC increased its position in Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after acquiring an additional 568 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Nucor in the first quarter worth approximately $259,000. Geneos Wealth Management Inc. grew its stake in shares of Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after buying an additional 153 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Nucor during the second quarter valued at approximately $390,000. Finally, Cerity Partners LLC lifted its position in Nucor by 51.9% in the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after acquiring an additional 13,877 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 2.0%

Shares of NUE stock opened at $266.06 on Friday. Nucor Corporation has a 1 year low of $117.21 and a 1 year high of $268.80. The company’s fifty day simple moving average is $222.60 and its two-hundred day simple moving average is $188.67. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The stock has a market capitalization of $60.59 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 0.68 and a beta of 1.88.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the prior year, the business posted $0.77 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. As a group, analysts anticipate that Nucor Corporation will post 15.71 earnings per share for the current year.

Nucor announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 20th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be paid a $0.56 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.8%. Nucor’s dividend payout ratio is currently 22.18%.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 12,888 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $226.00, for a total value of $2,912,688.00. Following the sale, the executive vice president owned 89,724 shares in the company, valued at approximately $20,277,624. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the sale, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. This trade represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NUE shares. The Goldman Sachs Group lifted their price objective on shares of Nucor from $240.00 to $260.00 in a report on Friday, May 1st. Seaport Research Partners boosted their target price on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp assumed coverage on Nucor in a research report on Wednesday, March 25th. They issued a “sector weight” rating on the stock. BofA upped their price objective on Nucor from $265.00 to $290.00 in a research note on Friday. Finally, Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $261.54.

Key Headlines Impacting Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: JPMorgan raised its price target on Nucor to $282 from $240 and reiterated an Overweight rating, citing expectations for strong second-quarter results. JPMorgan Raises Nucor (NUE) Forecast Ahead of Expected Strong Q2 Results
• Positive Sentiment: BofA also boosted its price target on Nucor to $290 from $265, reinforcing a constructive view on the company’s earnings and valuation outlook. BofA adjusts price target on Nucor to $290 from $265
• Positive Sentiment: Recent coverage notes that Nucor has delivered a very strong one-year share performance, keeping investor attention on whether the rally can continue. Nucor (NUE) Stock After 124% One-Year Surge Is There Still Value Here
• Neutral Sentiment: An article asking whether Nucor is still a good stock to buy now reflects continued investor debate about valuation after the stock’s sharp run-up. Is Nucor Corporation (NUE) A Good Stock To Buy Now?

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.