Resona Asset Management Co. Ltd. cut its holdings in shares of Nucor Corporation (NYSE:NUE – Free Report) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,891 shares of the basic materials company’s stock after selling 4,273 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Nucor were worth $13,910,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in NUE. Stance Capital LLC acquired a new stake in Nucor during the third quarter valued at approximately $25,000. AXS Investments LLC acquired a new stake in shares of Nucor during the third quarter valued at approximately $37,000. Vision Financial Markets LLC raised its holdings in shares of Nucor by 281.7% during the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 200 shares during the period. Caitlin John LLC acquired a new stake in shares of Nucor during the third quarter valued at approximately $41,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Nucor
In other Nucor news, insider Michael D. Keller sold 4,554 shares of the company’s stock in a transaction that occurred on 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 owned 16,834 shares in the company, valued at approximately $3,802,127.24. This represents a 21.29% 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 Noah C. Hanners sold 6,472 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the completion of the transaction, the executive vice president owned 50,377 shares in the company, valued at approximately $11,410,390.50. This represents a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 71,818 shares of company stock worth $16,234,593. 0.62% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Get Our Latest Analysis on Nucor
Nucor Stock Up 1.7%
Nucor stock opened at $225.56 on Thursday. The firm has a market cap of $51.37 billion, a PE ratio of 22.33, a P/E/G ratio of 0.60 and a beta of 1.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The firm’s 50 day moving average price is $193.75 and its two-hundred day moving average price is $176.66. Nucor Corporation has a twelve month low of $106.21 and a twelve month high of $235.45.
Nucor (NYSE:NUE – Get Free Report) last released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. The firm had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.77 EPS. On average, research analysts predict that Nucor Corporation will post 14.58 EPS for the current fiscal year.
Nucor declared that its Board of Directors has approved a stock buyback program on Friday, February 20th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Nucor Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st were paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, March 31st. Nucor’s dividend payout ratio is currently 22.18%.
About Nucor
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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