M&T Bank Corp Has $70.87 Million Stock Position in Nucor Corporation $NUE

M&T Bank Corp increased its stake in Nucor Corporation (NYSE:NUE) by 494.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 434,511 shares of the basic materials company’s stock after buying an additional 361,417 shares during the period. M&T Bank Corp’s holdings in Nucor were worth $70,873,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Krilogy Financial LLC lifted its stake in Nucor by 4.1% in the fourth quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock valued at $272,000 after buying an additional 61 shares during the period. Rosenberg Matthew Hamilton lifted its stake in Nucor by 3.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company’s stock valued at $328,000 after buying an additional 69 shares during the period. Whittier Trust Co. lifted its stake in Nucor by 5.6% in the third quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company’s stock valued at $184,000 after buying an additional 70 shares during the period. HUB Investment Partners LLC lifted its stake in Nucor by 1.9% in the second quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company’s stock valued at $531,000 after buying an additional 75 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Nucor by 23.2% in the third quarter. Versant Capital Management Inc now owns 425 shares of the basic materials company’s stock valued at $58,000 after buying an additional 80 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 3,881 shares of the company’s stock in a transaction on Friday, January 30th. The stock was 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 in the company, valued at approximately $15,717,044. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kenneth Rex Query sold 7,452 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total value of $1,460,741.04. Following the sale, the executive vice president owned 76,628 shares of the company’s stock, valued at $15,020,620.56. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 26,401 shares of company stock worth $4,936,152. 0.62% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NUE has been the topic of several recent analyst reports. Seaport Research Partners boosted their price target on Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, January 30th. JPMorgan Chase & Co. boosted their price target on Nucor from $198.00 to $212.00 and gave the company an “overweight” rating in a research note on Tuesday, April 14th. BNP Paribas Exane boosted their price target on Nucor from $185.00 to $210.00 and gave the company an “outperform” rating in a research note on Monday. UBS Group raised Nucor from a “neutral” rating to a “buy” rating and upped their target price for the stock from $184.00 to $190.00 in a research report on Thursday, March 26th. Finally, BMO Capital Markets upped their target price on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $198.10.

Nucor Price Performance

Shares of NYSE:NUE opened at $208.08 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. Nucor Corporation has a twelve month low of $106.21 and a twelve month high of $210.17. The stock’s 50 day moving average is $176.26 and its 200-day moving average is $165.18. The firm has a market capitalization of $47.37 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 0.71 and a beta of 1.73.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the previous year, the company earned $1.22 earnings per share. Nucor’s revenue for the quarter was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that Nucor Corporation will post 12.18 EPS for the current fiscal year.

Nucor announced that its Board of Directors has initiated a stock buyback program on Friday, February 20th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.56 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 annualized dividend and a yield of 1.1%. Nucor’s dividend payout ratio is 29.71%.

Nucor Company 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.