Berkshire Asset Management LLC PA Sells 2,159 Shares of Nucor Corporation $NUE

Berkshire Asset Management LLC PA lowered its stake in Nucor Corporation (NYSE:NUE) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 358,772 shares of the basic materials company’s stock after selling 2,159 shares during the quarter. Nucor comprises approximately 2.6% of Berkshire Asset Management LLC PA’s holdings, making the stock its 8th largest holding. Berkshire Asset Management LLC PA owned 0.16% of Nucor worth $58,519,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new position in shares of Nucor in the 3rd quarter valued at $1,528,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Nucor by 745.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after purchasing an additional 73,588 shares during the period. Nordea Investment Management AB lifted its stake in shares of Nucor by 11.1% in the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock valued at $342,642,000 after purchasing an additional 210,577 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Nucor in the 4th quarter valued at $1,989,000. Finally, Oak Harvest Investment Services acquired a new position in shares of Nucor in the 4th quarter valued at $6,329,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Activity

In other Nucor news, EVP Daniel R. Needham sold 12,888 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the completion of the transaction, the executive vice president owned 89,724 shares in the company, valued at approximately $20,277,624. This represents a 12.56% 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 stock in a transaction dated 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 transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Zacks Research upgraded shares of Nucor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. CICC Research assumed coverage on shares of Nucor in a research report on Monday, May 25th. They issued an “outperform” rating for the company. Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Citigroup upped their price objective on shares of Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Barclays assumed coverage on shares of Nucor in a research report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $264.50.

Nucor Price Performance

NUE stock opened at $259.36 on Wednesday. The stock has a 50-day moving average price of $226.08 and a two-hundred day moving average price of $190.36. The stock has a market cap of $59.07 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 0.66 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 1 year low of $120.40 and a 1 year high of $270.90.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The firm had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities analysts forecast that Nucor Corporation will post 15.71 EPS for the current fiscal year.

Nucor announced that its board has initiated a share repurchase plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are 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 issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio is 22.18%.

Key Stories Impacting Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Goldman Sachs raised its price target on Nucor to $284 from $260 and reiterated a buy rating, signaling further upside from current levels. MarketScreener
• Positive Sentiment: Nucor was highlighted in Zacks relative-price-strength screens, which point to strong recent performance and rising earnings estimate revisions. Yahoo Finance/Zacks
• Positive Sentiment: Recent articles noted that Nucor has posted strong short-term and longer-term share-price gains, prompting investors to reassess valuation but also reinforcing momentum in the stock. Yahoo Finance
• Neutral Sentiment: Other market commentary compared Nucor’s performance with peers in basic materials and noted sector-wide rotation, but did not point to a company-specific catalyst. Yahoo Finance
• Neutral Sentiment: Articles about Nucor being a “relative price strength winner” and a momentum stock are supportive, but they mainly reflect recent trading behavior rather than a new fundamental development. Yahoo Finance

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.