Shell Asset Management Co. Reduces Stock Holdings in Nucor Corporation $NUE

Shell Asset Management Co. lowered its holdings in shares of Nucor Corporation (NYSE:NUE) by 96.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 237 shares of the basic materials company’s stock after selling 7,197 shares during the quarter. Shell Asset Management Co.’s holdings in Nucor were worth $32,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in NUE. Aberdeen Group plc raised its position in Nucor by 49.4% in the third quarter. Aberdeen Group plc now owns 195,603 shares of the basic materials company’s stock worth $26,618,000 after acquiring an additional 64,642 shares during the period. Cidel Asset Management Inc. raised its holdings in Nucor by 3.4% in the 3rd quarter. Cidel Asset Management Inc. now owns 4,650 shares of the basic materials company’s stock worth $630,000 after purchasing an additional 152 shares during the period. Balboa Wealth Partners purchased a new position in Nucor during the third quarter valued at $756,000. IMA Advisory Services Inc. grew its holdings in Nucor by 56.6% during the third quarter. IMA Advisory Services Inc. now owns 346 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 125 shares during the period. Finally, Metis Global Partners LLC increased its position in Nucor by 5.7% in the third quarter. Metis Global Partners LLC now owns 30,011 shares of the basic materials company’s stock worth $4,064,000 after buying an additional 1,612 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NUE stock opened at $178.70 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. The company’s fifty day moving average price is $174.59 and its 200-day moving average price is $155.82. Nucor Corporation has a one year low of $97.59 and a one year high of $196.90. The company has a market capitalization of $40.90 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 0.65 and a beta of 1.86.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The business’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 earnings per share. On average, equities analysts anticipate that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor announced that its board has authorized a share repurchase 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.3%. Nucor’s dividend payout ratio is presently 29.71%.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was 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 approximately $12,763,523.50. This represents a 10.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Daniel R. Needham sold 3,881 shares of the firm’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $178.00, for a total transaction of $690,818.00. Following the completion of the transaction, the executive vice president directly owned 88,298 shares of the company’s stock, valued at approximately $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,351 shares of company stock valued at $6,206,158 in the last ninety days. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the subject of a number of recent research reports. BNP Paribas Exane boosted their price objective on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. 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 report on Friday, January 9th. Jefferies Financial Group increased their price objective on shares of Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Wells Fargo & Company raised their price objective on shares of Nucor from $176.00 to $184.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Nucor in a research note on Wednesday, October 29th. 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

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.