Nucor Corporation $NUE Stock Holdings Boosted by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its stake in shares of Nucor Corporation (NYSE:NUE) by 9.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,407 shares of the basic materials company’s stock after purchasing an additional 3,483 shares during the period. Rakuten Investment Management Inc.’s holdings in Nucor were worth $9,546,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cantor Fitzgerald Investment Advisors L.P. boosted its position in shares of Nucor by 0.5% in the 3rd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 8,091 shares of the basic materials company’s stock valued at $1,891,000 after purchasing an additional 40 shares during the period. Signature Equity Partners LLC increased its stake in Nucor by 34.1% in the 3rd quarter. Signature Equity Partners LLC now owns 165 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 42 shares in the last quarter. Venture Visionary Partners LLC increased its stake in Nucor by 2.4% in the 3rd quarter. Venture Visionary Partners LLC now owns 1,932 shares of the basic materials company’s stock worth $452,000 after purchasing an additional 46 shares in the last quarter. Smith Thornton Advisors LLC raised its holdings in Nucor by 3.1% during the 3rd quarter. Smith Thornton Advisors LLC now owns 1,545 shares of the basic materials company’s stock worth $361,000 after buying an additional 47 shares during the period. Finally, Focus Financial Network Inc. raised its holdings in Nucor by 3.6% during the 2nd quarter. Focus Financial Network Inc. now owns 1,417 shares of the basic materials company’s stock worth $316,000 after buying an additional 49 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Key Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: A bullish feature cited exceptionally strong steel demand and Nucor’s ability to benefit from it. Another Zacks commentary pointed to record shipments, rising steel prices and expanding margins. Bull of the Day: Nucor
• Positive Sentiment: The longer-term industry backdrop may be supportive: a market report projects global metal recycling will grow, with Nucor among the companies positioned in the sector. This is a broad industry forecast, not a company-specific catalyst. Global Metal Recycling Market forecast
• Neutral Sentiment: Recent quarterly revenue grew 32% year over year and beat estimates, but EPS narrowly missed consensus. The mixed results provide both a positive revenue signal and a modest earnings disappointment.
• Negative Sentiment: Nucor underperformed its competitors as shares fell in the latest session. Coverage described the move but did not point to a specific new operational or financial development explaining it. Nucor underperforms competitors
• Negative Sentiment: COO Stephen Laxton sold 10,560 shares, reducing his stake by about 12%. Insider sales can be for personal or planned reasons, but may weigh on sentiment. Nucor insider sale

Nucor Stock Down 8.3%

NYSE:NUE opened at $245.71 on Friday. The firm has a market capitalization of $55.75 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 0.66 and a beta of 1.81. Nucor Corporation has a 1-year low of $140.93 and a 1-year high of $287.70. The company has a current ratio of 2.46, a quick ratio of 1.43 and a debt-to-equity ratio of 0.26. The business’s fifty day moving average price is $255.31 and its 200 day moving average price is $225.29.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, October 26th. The basic materials company reported $5.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.84 by ($0.04). Nucor had a return on equity of 15.53% and a net margin of 9.26%. The business had revenue of $11.25 billion during the quarter, compared to analysts’ expectations of $10.84 billion. During the same period in the prior year, the company posted $2.63 earnings per share. The firm’s revenue was up 32.0% on a year-over-year basis. On average, sell-side analysts forecast that Nucor Corporation will post 19.63 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, September 30th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor’s dividend payout ratio is 14.26%.

Insider Activity at Nucor

In other Nucor news, insider Michael D. Keller sold 1,136 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $279.33, for a total value of $317,318.88. Following the transaction, the insider owned 15,588 shares in the company, valued at approximately $4,354,196.04. This represents a 6.79% 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 Allen Behr sold 11,846 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $272.90, for a total transaction of $3,232,773.40. Following the completion of the transaction, the executive vice president owned 58,022 shares in the company, valued at approximately $15,834,203.80. This represents a 16.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 28,732 shares of company stock valued at $7,881,287 over the last ninety days. 0.62% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Nucor from $296.00 to $304.00 and gave the company an “overweight” rating in a research note on Wednesday, October 28th. Barclays lifted their target price on shares of Nucor from $306.00 to $320.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. Wells Fargo & Company boosted their price target on shares of Nucor from $280.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, October 28th. Freedom Broker upgraded shares of Nucor from a “hold” rating to a “buy” rating and upped their price target for the company from $285.00 to $304.00 in a research report on Friday, October 30th. Finally, Wedbush set a $304.00 price objective on shares of Nucor in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.38.

Nucor Company Profile

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.