WealthPlan Investment Management LLC lowered its stake in Nucor Corporation (NYSE:NUE – Free Report) by 11.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 26,544 shares of the basic materials company’s stock after selling 3,508 shares during the period. WealthPlan Investment Management LLC’s holdings in Nucor were worth $6,205,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in NUE. BlackRock Inc. purchased a new stake in Nucor during the 2nd quarter valued at $4,452,563,000. Bank of America Corp DE bought a new position in shares of Nucor during the 2nd quarter valued at $462,886,000. Dimensional Fund Advisors LP lifted its holdings in shares of Nucor by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after buying an additional 22,718 shares during the period. Berkshire Hathaway Inc purchased a new position in shares of Nucor in the 2nd quarter worth $413,814,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Nucor in the 2nd quarter worth $330,902,000. Institutional investors own 76.48% of the company’s stock.
Nucor Price Performance
NYSE:NUE traded down $3.82 on Thursday, reaching $253.29. 598,981 shares of the company’s stock traded hands, compared to its average volume of 1,540,495. The stock has a 50-day simple moving average of $254.39 and a 200-day simple moving average of $237.25. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The firm has a market cap of $57.47 billion, a PE ratio of 20.17, a P/E/G ratio of 0.62 and a beta of 1.84. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.
Nucor (NYSE:NUE – Get Free Report) last released its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.38. The firm had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%. The firm’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the business posted $2.60 earnings per share. Equities research analysts forecast that Nucor Corporation will post 19.62 earnings per share for the current year.
Nucor Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Wednesday, September 30th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor’s dividend payout ratio (DPR) is presently 17.86%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on NUE. JPMorgan Chase & Co. cut their price objective on Nucor from $308.00 to $296.00 and set an “overweight” rating for the company in a report on Friday, October 9th. KeyCorp lowered their target price on Nucor from $288.00 to $286.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. The Goldman Sachs Group dropped their target price on Nucor from $304.00 to $302.00 and set a “buy” rating on the stock in a research report on Friday, September 18th. Weiss Ratings raised Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 25th. Finally, Citigroup restated a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $276.07.
View Our Latest Report on Nucor
Insiders Place Their Bets
In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This represents a 19.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction dated 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 of the company’s stock, valued at $20,008,704.32. This trade represents a 4.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.62% of the company’s stock.
More Nucor News
Here are the key news stories impacting Nucor this week:
- Positive Sentiment: Zacks upgraded Nucor from “Hold” to “Strong Buy,” improving the near-term analyst sentiment around NUE. Zacks also included the company among its top momentum and value stocks for October 14.
- Positive Sentiment: Analysts raised their earnings forecasts. Zacks increased its Q4 2026 EPS estimate to $6.84 from $4.81 and its FY2027 forecast to $19.44 from $18.83. The firm also raised its Q4 2027 estimate to $4.20 from $3.50, suggesting improved expectations for future profitability.
- Positive Sentiment: Nucor is investing $105 million to expand its Crawfordsville, Indiana, utility-pole facility. The project will add more than 120,000 square feet of automated manufacturing space and approximately 100 jobs. The expansion positions Nucor to benefit from rising U.S. electricity transmission and distribution spending and could increase its mix of higher-value steel products. Nucor grid investment article
- Neutral Sentiment: The Indiana project supports Nucor’s strategic positioning, but the earnings impact will likely develop gradually as capacity comes online. It also requires substantial upfront capital spending. Indiana utility pole expansion article
- Negative Sentiment: NUE has already risen sharply, gaining 49.82% year to date and reaching a 52-week high of $280.11. The strong advance may encourage investors to lock in gains, particularly with the shares trading at roughly 20 times earnings and with steel-market cyclicality remaining a risk.
Nucor Profile
Nucor Corporation is a Charlotte, North Carolina-based steel producer and one of the largest steel companies in North America. The company operates electric arc furnace (EAF) steel mills that use recycled scrap steel as a primary raw material, along with facilities that manufacture and process steel products for construction, manufacturing, transportation, energy and other industrial markets.
Nucor’s product portfolio includes carbon and alloy steel in sheet, plate, bar and structural forms, as well as reinforcing steel, wire and wire mesh.
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