Sound Financial Strategies Group LLC Takes Position in Nucor Corporation $NUE

Sound Financial Strategies Group LLC bought a new stake in Nucor Corporation (NYSE:NUE) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,194 shares of the basic materials company’s stock, valued at approximately $684,000.

A number of other hedge funds also recently modified their holdings of NUE. Vanguard Group Inc. raised its holdings in shares of Nucor by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock worth $4,633,554,000 after acquiring an additional 144,038 shares in the last quarter. Capital World Investors raised its holdings in shares of Nucor by 20.1% during the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after acquiring an additional 509,019 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Nucor by 11.1% during the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock worth $342,642,000 after acquiring an additional 210,577 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Nucor by 2.4% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,685,250 shares of the basic materials company’s stock worth $228,233,000 after acquiring an additional 38,990 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Nucor by 11.2% during the third quarter. Legal & General Group Plc now owns 1,630,986 shares of the basic materials company’s stock worth $220,884,000 after acquiring an additional 164,021 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Daniel R. Needham sold 12,888 shares of Nucor stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $226.00, for a total value of $2,912,688.00. Following the transaction, the executive vice president directly owned 89,724 shares in the company, valued at approximately $20,277,624. The trade was a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $226.08, for a total value of $2,282,503.68. Following the completion of the transaction, the executive vice president owned 62,871 shares in the company, valued at $14,213,875.68. The trade was a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 76,770 shares of company stock valued at $17,132,834 in the last ninety days. Company insiders own 0.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on NUE shares. Bank of America increased their price objective on Nucor from $190.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. KeyCorp started coverage on Nucor in a report on Wednesday, March 25th. They set a “sector weight” rating for the company. BMO Capital Markets increased their price objective on Nucor from $196.00 to $235.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Morgan Stanley increased their price objective on Nucor from $180.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company increased their price objective on Nucor from $213.00 to $244.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.80.

Nucor Trading Up 0.3%

Nucor stock opened at $227.49 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The business’s 50-day simple moving average is $184.10 and its 200-day simple moving average is $171.28. The firm has a market capitalization of $51.79 billion, a PE ratio of 22.52, a PEG ratio of 0.65 and a beta of 1.87. Nucor Corporation has a 52 week low of $106.21 and a 52 week high of $235.44.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. Equities research analysts forecast that Nucor Corporation will post 13.64 earnings per share for the current year.

Nucor announced that its board has authorized a share repurchase program on Friday, February 20th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be paid a $0.56 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. Nucor’s payout ratio is presently 22.18%.

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.