Nucor Corporation $NUE Position Reduced by Swiss National Bank

Swiss National Bank trimmed its position in Nucor Corporation (NYSE:NUE) by 4.8% in the third quarter, HoldingsChannel.com reports. The firm owned 665,200 shares of the basic materials company’s stock after selling 33,200 shares during the quarter. Swiss National Bank’s holdings in Nucor were worth $90,088,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NUE. IMA Advisory Services Inc. lifted its holdings in shares of Nucor by 51.4% in the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after buying an additional 75 shares during the period. AXS Investments LLC bought a new stake in Nucor in the third quarter worth about $37,000. Vision Financial Markets LLC lifted its holdings in Nucor by 281.7% in the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in Nucor in the 2nd quarter valued at about $39,000. Finally, Caitlin John LLC acquired a new position in shares of Nucor in the 3rd quarter worth approximately $41,000. 76.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on NUE shares. BMO Capital Markets increased their target price on shares of Nucor from $190.00 to $196.00 and gave the company an “outperform” rating in a research note on Tuesday, March 3rd. BNP Paribas Exane increased their price objective on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Jefferies Financial Group raised their price objective on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. 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. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $180.00 price target (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $187.90.

Nucor Trading Up 0.7%

NYSE NUE opened at $170.70 on Wednesday. The firm’s 50 day moving average price is $177.09 and its two-hundred day moving average price is $158.21. The stock has a market cap of $38.88 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 0.61 and a beta of 1.83. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $196.90. 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 issued its earnings results 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). The business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business earned $1.22 EPS. Equities analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

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

Nucor announced that its Board of Directors has initiated a stock buyback plan on Friday, February 20th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Nucor

In other news, EVP Allen C. Behr sold 7,568 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total value of $1,426,568.00. Following the transaction, the executive vice president directly owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This represents a 10.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Daniel R. Needham sold 3,881 shares of Nucor stock in a transaction on Friday, January 30th. The shares were sold at an average price of $178.00, for a total value of $690,818.00. Following the sale, the executive vice president directly owned 88,298 shares of the company’s stock, valued at approximately $15,717,044. The trade was a 4.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 34,351 shares of company stock valued at $6,206,158. Company insiders own 0.71% of the company’s stock.

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.