Barclays PLC Has $114.75 Million Stake in Nucor Corporation $NUE

Key Points

• Barclays trimmed its Nucor stake by 8% in the fourth quarter, but still held 703,530 shares valued at about $114.75 million at the end of the period.
• Nucor beat earnings expectations for the latest quarter, reporting $3.23 EPS versus estimates of $2.82 and revenue of $9.50 billion, up 21.3% from a year earlier.
• The company has also been active on shareholder returns, with a $4 billion share repurchase program and a newly घोषित quarterly dividend of $0.56 per share; analysts remain broadly positive with a Moderate Buy consensus.

Barclays PLC lessened its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 8.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 703,530 shares of the basic materials company's stock after selling 61,234 shares during the period. Barclays PLC owned 0.31% of Nucor worth $114,753,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Stance Capital LLC acquired a new position in Nucor during the third quarter worth $25,000. Caitlin John LLC acquired a new position in Nucor during the third quarter worth $41,000. Geneos Wealth Management Inc. raised its holdings in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock worth $41,000 after buying an additional 153 shares during the last quarter. Ares Financial Consulting LLC acquired a new position in Nucor during the fourth quarter worth $45,000. Finally, Quarry LP grew its stake in shares of Nucor by 142.6% in the 4th quarter. Quarry LP now owns 342 shares of the basic materials company's stock worth $56,000 after acquiring an additional 201 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Trading Down 2.6%

Shares of NUE opened at $259.31 on Tuesday. The firm's 50 day simple moving average is $224.34 and its 200 day simple moving average is $189.65. The company has a market capitalization of $59.06 billion, a P/E ratio of 25.67, a P/E/G ratio of 0.67 and a beta of 1.88. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. Nucor Corporation has a 1-year low of $120.40 and a 1-year high of $270.90.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. Nucor's quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $0.77 earnings per share. Sell-side analysts forecast that Nucor Corporation will post 15.71 earnings per share for the current fiscal year.

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

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor's dividend payout ratio (DPR) is currently 22.18%.

Insiders Place Their Bets

In related news, insider Michael D. Keller sold 4,554 shares of the firm'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 sale, the insider directly owned 16,834 shares of the company's stock, valued at $3,802,127.24. This trade represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Bradley Ford sold 2,240 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total transaction of $519,971.20. Following the transaction, the executive vice president owned 43,649 shares in the company, valued at $10,132,242.37. The trade was a 4.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 82,378 shares of company stock valued at $18,963,930 over the last three months. Corporate insiders own 0.62% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Nucor from $190.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. BofA upped their target price on shares of Nucor from $265.00 to $290.00 in a research note on Friday. Wall Street Zen raised shares of Nucor from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. increased their target price on shares of Nucor from $240.00 to $282.00 and gave the company an "overweight" rating in a research report on Wednesday, June 10th. Finally, BMO Capital Markets increased their target price on shares of Nucor from $250.00 to $285.00 and gave the company an "outperform" rating in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $261.54.

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.

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