Rhumbline Advisers Trims Holdings in Nucor Corporation $NUE

Rhumbline Advisers cut its position in shares of Nucor Corporation (NYSE:NUE) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 428,686 shares of the basic materials company’s stock after selling 3,074 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Nucor worth $58,057,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC acquired a new stake in Nucor in the 2nd quarter worth about $236,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Nucor during the 2nd quarter worth about $5,225,000. Allstate Corp purchased a new position in shares of Nucor during the 3rd quarter worth about $1,085,000. Penserra Capital Management LLC boosted its position in shares of Nucor by 15,814.3% in the third quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock worth $452,000 after acquiring an additional 3,321 shares during the last quarter. Finally, Peterson Wealth Services grew its holdings in Nucor by 587,032.0% in the third quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock valued at $19,879,000 after purchasing an additional 146,758 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Down 3.1%

Shares of Nucor stock opened at $182.97 on Friday. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $196.90. The stock has a market cap of $41.87 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 0.68 and a beta of 1.86. 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 company has a fifty day moving average price of $172.29 and a 200 day moving average price of $153.86.

Nucor (NYSE:NUE) last released its quarterly earnings data 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 analysts’ expectations of $7.93 billion. During the same period last year, the business earned $1.22 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 11th. Shareholders of record on Wednesday, December 31st were issued a $0.56 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.2%. This is a boost from Nucor’s previous quarterly dividend of $0.55. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NUE shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $180.00 price target (up previously from $165.00) on shares of Nucor in a research note on Friday, January 9th. UBS Group lowered Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price on the stock. in a research report on Wednesday, January 28th. Wells Fargo & Company lifted their target price on Nucor from $176.00 to $184.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. BNP Paribas Exane boosted their price target on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Finally, Wall Street Zen upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Saturday, January 31st. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $179.36.

Insider Activity

In other news, EVP Allen C. Behr sold 7,568 shares of Nucor stock in a transaction that occurred on 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 sale, the executive vice president owned 67,711 shares in the company, valued at $12,763,523.50. This trade represents a 10.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the transaction, the executive vice president directly owned 76,628 shares in the company, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,351 shares of company stock worth $6,206,158 over the last three months. Insiders own 0.46% of the company’s stock.

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.