Asset Management One Co. Ltd. Purchases 8,602 Shares of Nucor Corporation $NUE

Key Points

• Asset Management One Co. Ltd. increased its stake in Nucor by 9.0%, purchasing 8,602 shares to hold 104,220 shares worth $17.243 million according to its latest SEC filing.
• Nucor’s board approved a $4.0 billion stock buyback (about 9.7% of shares) and declared a quarterly dividend of $0.56 per share (annualized $2.24, ~1.1% yield) payable May 11.
• Nucor missed Q4 estimates with EPS of $1.73 versus $1.91 expected and revenue of $7.69B versus $7.93B, while analysts hold a consensus "Moderate Buy" with an average target near $195.60.

Asset Management One Co. Ltd. boosted its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 9.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 104,220 shares of the basic materials company's stock after buying an additional 8,602 shares during the period. Asset Management One Co. Ltd.'s holdings in Nucor were worth $17,243,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in NUE. Rosenberg Matthew Hamilton grew its position in shares of Nucor by 3.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company's stock worth $328,000 after purchasing an additional 69 shares in the last quarter. Whittier Trust Co. lifted its holdings in Nucor by 5.6% in the 3rd quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company's stock worth $184,000 after purchasing an additional 70 shares in the last quarter. HUB Investment Partners LLC lifted its holdings in Nucor by 1.9% in the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company's stock worth $531,000 after purchasing an additional 75 shares in the last quarter. Versant Capital Management Inc boosted its stake in Nucor by 23.2% in the 3rd quarter. Versant Capital Management Inc now owns 425 shares of the basic materials company's stock worth $58,000 after purchasing an additional 80 shares during the period. Finally, True North Advisors LLC boosted its stake in Nucor by 3.9% in the 3rd quarter. True North Advisors LLC now owns 2,195 shares of the basic materials company's stock worth $297,000 after purchasing an additional 82 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Price Performance

Nucor stock opened at $195.67 on Monday. Nucor Corporation has a 52-week low of $105.92 and a 52-week high of $197.13. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The firm's fifty day moving average is $175.76 and its 200 day moving average is $164.24. The company has a market cap of $44.54 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 0.69 and a beta of 1.73.

Nucor (NYSE:NUE - Get Free Report) last posted 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). The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.22 earnings per share. Sell-side analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor declared that its board has approved a stock repurchase program on Friday, February 20th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Nucor Announces Dividend

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

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president directly owned 88,298 shares in the company, valued at $15,717,044. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Allen C. Behr sold 7,568 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total value of $1,426,568.00. Following the completion of the sale, the executive vice president directly owned 67,711 shares of the company's stock, valued at $12,763,523.50. The trade was a 10.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,401 shares of company stock valued at $4,936,152 over the last ninety days. 0.62% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Nucor from $190.00 to $196.00 and gave the company an "outperform" rating in a research report on Tuesday, March 3rd. KeyCorp started coverage on shares of Nucor in a research report on Wednesday, March 25th. They set a "sector weight" rating for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nucor in a research note on Monday, December 29th. Wells Fargo & Company lifted their price target on shares of Nucor from $197.00 to $213.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, The Goldman Sachs Group began coverage on shares of Nucor in a research note on Wednesday, April 1st. They issued a "buy" rating and a $210.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $195.60.

Nucor 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.

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