South Dakota Investment Council Has $8.44 Million Position in Nucor Corporation $NUE

South Dakota Investment Council decreased its position in shares of Nucor Corporation (NYSE:NUE) by 16.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,301 shares of the basic materials company’s stock after selling 12,147 shares during the period. South Dakota Investment Council’s holdings in Nucor were worth $8,437,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the stock in a transaction that occurred 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 sale, the executive vice president owned 88,298 shares of the company’s stock, valued at approximately $15,717,044. This represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $15,020,620.56. This trade represents a 8.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 34,351 shares of company stock valued at $6,206,158. Insiders own 0.71% of the company’s stock.

Nucor Price Performance

Shares of NYSE:NUE opened at $177.54 on Wednesday. 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 Corporation has a 52 week low of $97.59 and a 52 week high of $196.90. The firm has a market cap of $40.44 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 0.65 and a beta of 1.83. The firm’s fifty day moving average is $176.46 and its 200-day moving average is $157.28.

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

Nucor announced that its Board of Directors has authorized a share buyback program on Friday, February 20th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be paid 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 payout ratio is currently 29.71%.

Wall Street Analyst Weigh In

NUE has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on shares of Nucor from $184.00 to $194.00 and gave the company an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. increased their price objective on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. Seaport Research Partners upped their price target on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Jefferies Financial Group increased their price target on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $180.27.

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.