Fieldview Capital Management LLC Trims Stake in Nucor Corporation $NUE

Fieldview Capital Management LLC reduced its holdings in Nucor Corporation (NYSE:NUE) by 75.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,706 shares of the basic materials company’s stock after selling 39,195 shares during the quarter. Fieldview Capital Management LLC’s holdings in Nucor were worth $1,721,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NUE. Fox Run Management L.L.C. purchased a new stake in shares of Nucor during the 3rd quarter valued at $1,528,000. Fidelis Capital Partners LLC bought a new position in Nucor in the second quarter valued at $236,000. Penserra Capital Management LLC raised its position in Nucor by 15,814.3% during the third quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock valued at $452,000 after purchasing an additional 3,321 shares in the last quarter. Allstate Corp bought a new stake in Nucor during the third quarter worth about $1,085,000. Finally, Peterson Wealth Services boosted its holdings in shares of Nucor by 587,032.0% in the 3rd quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock worth $19,879,000 after purchasing an additional 146,758 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other news, EVP Thomas J. Batterbee sold 2,000 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total value of $330,560.00. Following the sale, the executive vice president directly owned 17,952 shares of the company’s stock, valued at $2,967,106.56. This represents a 10.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kenneth Rex Query sold 7,452 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president owned 76,628 shares of the company’s stock, 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. In the last quarter, insiders have sold 34,351 shares of company stock worth $6,206,158. Corporate insiders own 0.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. The Goldman Sachs Group boosted their target price on Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. BMO Capital Markets boosted their price objective on shares of Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. JPMorgan Chase & Co. increased their target price on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Morgan Stanley reissued an “equal weight” rating and issued a $180.00 price target (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. Finally, Wells Fargo & Company upped their price target on shares of Nucor from $184.00 to $194.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.90.

Nucor Stock Up 0.3%

NUE stock opened at $169.18 on Tuesday. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $196.90. The company has a market capitalization of $38.53 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 0.61 and a beta of 1.83. The business’s 50 day moving average price is $176.97 and its two-hundred day moving average price is $158.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the previous year, the business earned $1.22 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor declared that its Board of Directors has authorized a share buyback plan on Friday, February 20th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 annualized dividend and a yield of 1.3%. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

About Nucor

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.