Pacer Advisors Inc. Cuts Position in Nucor Corporation $NUE

Pacer Advisors Inc. cut its holdings in Nucor Corporation (NYSE:NUE) by 45.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,271 shares of the basic materials company’s stock after selling 10,350 shares during the period. Pacer Advisors Inc.’s holdings in Nucor were worth $2,075,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of NUE. Norges Bank purchased a new stake in shares of Nucor during the 4th quarter valued at $609,002,000. AQR Capital Management LLC boosted its holdings in shares of Nucor by 580.9% in the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock worth $84,699,000 after buying an additional 557,819 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Nucor by 27.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock worth $290,405,000 after buying an additional 383,952 shares during the last quarter. M&T Bank Corp grew its position in Nucor by 494.5% during the fourth quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company’s stock valued at $70,873,000 after buying an additional 361,417 shares during the period. Finally, Encompass Capital Advisors LLC purchased a new stake in Nucor during the fourth quarter worth about $51,135,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Trading Up 0.3%

Shares of NUE stock opened at $272.89 on Friday. The company has a market capitalization of $62.15 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 0.60 and a beta of 1.89. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $280.11. The business’s fifty day moving average is $245.67 and its 200 day moving average is $210.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.36 and a current ratio of 2.51.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. The firm had revenue of $10.40 billion during the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the company posted $2.60 EPS. On average, equities research analysts anticipate that Nucor Corporation will post 18.02 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s payout ratio is currently 17.86%.

Insider Activity at Nucor

In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the transaction, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas J. Batterbee sold 4,000 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the sale, the executive vice president directly owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This trade represents a 19.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 21,028 shares of company stock valued at $5,355,535. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on NUE shares. The Goldman Sachs Group lifted their price objective on shares of Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Weiss Ratings raised shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 14th. BNP Paribas Exane lifted their price target on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. Citigroup reiterated a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Finally, Morgan Stanley set a $270.00 price objective on Nucor in a report on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.31.

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.