Barclays PLC Lowers Stock Position in Nucor Corporation $NUE

Barclays PLC lessened its stake in Nucor Corporation (NYSE:NUE) by 8.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 703,530 shares of the basic materials company’s stock after selling 61,234 shares during the quarter. Barclays PLC’s holdings in Nucor were worth $114,753,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Empirical Asset Management LLC raised its position in Nucor by 2.6% in the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock worth $347,000 after buying an additional 54 shares during the last quarter. Krilogy Financial LLC raised its position in Nucor by 4.1% in the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock worth $272,000 after buying an additional 61 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in Nucor by 3.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company’s stock worth $328,000 after buying an additional 69 shares during the last quarter. HUB Investment Partners LLC raised its position in Nucor by 1.9% in the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company’s stock worth $531,000 after buying an additional 75 shares during the last quarter. Finally, Global Assets Advisory LLC raised its position in Nucor by 3.0% in the 4th quarter. Global Assets Advisory LLC now owns 2,677 shares of the basic materials company’s stock worth $437,000 after buying an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Trading Down 2.6%

Shares of NYSE:NUE opened at $259.31 on Tuesday. The stock has a 50 day moving average of $224.34 and a 200 day moving average of $189.65. The company has a market cap of $59.06 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 0.67 and a beta of 1.88. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. Nucor Corporation has a 12-month low of $120.40 and a 12-month high of $270.90.

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

Nucor declared that its board has approved a share buyback program on Friday, February 20th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.56 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor’s payout ratio is 22.18%.

Insider Activity at Nucor

In related news, EVP Noah C. Hanners sold 6,472 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $226.50, for a total value of $1,465,908.00. Following the transaction, the executive vice president directly owned 50,377 shares of the company’s stock, valued at approximately $11,410,390.50. The trade was a 11.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 82,378 shares of company stock worth $18,963,930 in the last quarter. 0.62% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on NUE. Weiss Ratings raised Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 14th. Argus boosted their target price on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Wells Fargo & Company boosted their target price on Nucor from $244.00 to $292.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. KeyCorp began coverage on Nucor in a research report on Wednesday, March 25th. They issued a “sector weight” rating for the company. Finally, Citigroup boosted their target price on Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $261.54.

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.