Nucor Corporation $NUE Shares Sold by AG2R LA Mondiale Gestion D Actifs

AG2R LA Mondiale Gestion D Actifs trimmed its position in Nucor Corporation (NYSE:NUEFree Report) by 77.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,712 shares of the basic materials company’s stock after selling 41,151 shares during the period. AG2R LA Mondiale Gestion D Actifs’ holdings in Nucor were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in NUE. Vanguard Group Inc. grew its position in Nucor by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock worth $4,633,554,000 after purchasing an additional 144,038 shares during the period. Capital World Investors grew its position in Nucor by 20.1% during the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after purchasing an additional 509,019 shares during the period. Nordea Investment Management AB grew its position in Nucor by 11.1% during the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock worth $342,642,000 after purchasing an additional 210,577 shares during the period. Diamond Hill Capital Management Inc. grew its position in Nucor by 2.4% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,685,250 shares of the basic materials company’s stock worth $228,233,000 after purchasing an additional 38,990 shares during the period. Finally, Legal & General Group Plc grew its position in Nucor by 11.2% during the 3rd quarter. Legal & General Group Plc now owns 1,630,986 shares of the basic materials company’s stock worth $220,884,000 after purchasing an additional 164,021 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. BMO Capital Markets increased their price target on Nucor from $196.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Seaport Research Partners reaffirmed a “buy” rating and set a $245.00 price target on shares of Nucor in a research report on Thursday, April 30th. Wall Street Zen raised Nucor from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group increased their price target on Nucor from $240.00 to $260.00 in a research report on Friday, May 1st. Finally, UBS Group downgraded Nucor from a “buy” rating to a “neutral” rating and increased their price target for the stock from $190.00 to $224.00 in a research report on Tuesday, April 28th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $243.80.

View Our Latest Stock Report on NUE

Insider Activity

In related news, insider Michael D. Keller sold 4,554 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $225.86, for a total value of $1,028,566.44. Following the transaction, the insider directly owned 16,834 shares of the company’s stock, valued at approximately $3,802,127.24. This trade represents a 21.29% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Bradley Ford sold 2,240 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total transaction of $519,971.20. Following the completion of the transaction, the executive vice president directly owned 43,649 shares in the company, valued at $10,132,242.37. This represents a 4.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 69,318 shares of company stock worth $15,672,093. 0.62% of the stock is currently owned by corporate insiders.

Nucor Price Performance

NYSE:NUE opened at $229.77 on Wednesday. Nucor Corporation has a 52 week low of $106.21 and a 52 week high of $235.44. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $52.30 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 0.67 and a beta of 1.87. The stock’s 50-day moving average price is $187.33 and its 200-day moving average price is $173.22.

Nucor (NYSE:NUEGet Free Report) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. During the same period last year, the firm earned $0.77 EPS. The company’s quarterly revenue was up 21.3% on a year-over-year basis. As a group, equities analysts expect that Nucor Corporation will post 13.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.56 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. Nucor’s dividend payout ratio (DPR) is 22.18%.

Nucor declared that its Board of Directors has authorized a share buyback plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

About Nucor

(Free Report)

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.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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