CX Institutional Acquires 6,879 Shares of Nucor Corporation $NUE

Key Points

• CX Institutional increased its stake in Nucor by 20.9%, buying 6,879 shares to hold 39,745 shares valued at about $6.48 million at quarter-end, and institutional ownership of the stock sits at 76.48%.
• Nucor posted a strong quarter with EPS $3.23 (vs. $2.82 est.) and revenue of $9.50 billion, up 21.3% year-over-year, prompting multiple analyst price-target increases and an average target near $240.
• The board authorized a $4.0 billion share buyback (up to 9.7% of outstanding shares) and declared a $0.56 quarterly dividend, while two executive VPs each sold roughly 7.5k shares in February.

CX Institutional increased its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 20.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,745 shares of the basic materials company's stock after acquiring an additional 6,879 shares during the period. CX Institutional's holdings in Nucor were worth $6,483,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Benjamin Edwards Inc. grew its holdings in shares of Nucor by 23.5% in the fourth quarter. Benjamin Edwards Inc. now owns 1,901 shares of the basic materials company's stock valued at $310,000 after acquiring an additional 362 shares in the last quarter. Composition Wealth LLC bought a new position in Nucor during the fourth quarter valued at $356,000. PFA Pension Forsikringsaktieselskab bought a new position in Nucor during the fourth quarter valued at $48,615,000. Horizon Investments LLC grew its holdings in Nucor by 572.9% during the fourth quarter. Horizon Investments LLC now owns 58,364 shares of the basic materials company's stock valued at $9,520,000 after purchasing an additional 49,691 shares during the period. Finally, Nkcfo LLC grew its holdings in Nucor by 100.0% during the fourth quarter. Nkcfo LLC now owns 39,600 shares of the basic materials company's stock valued at $6,459,000 after purchasing an additional 19,800 shares during the period. 76.48% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total value of $1,426,568.00. Following the sale, the executive vice president owned 67,711 shares in the company, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kenneth Rex Query sold 7,452 shares of the 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 completion of the sale, the executive vice president owned 76,628 shares in the company, valued at $15,020,620.56. This trade represents a 8.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.62% of the company's stock.

Nucor Trading Down 0.0%

Shares of NUE stock opened at $225.93 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. Nucor Corporation has a 52-week low of $106.21 and a 52-week high of $227.96. The company has a market capitalization of $51.43 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 0.65 and a beta of 1.87. The business's fifty day moving average is $180.91 and its 200 day moving average is $169.22.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter last year, the business posted $0.77 earnings per share. The firm's revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts anticipate that Nucor Corporation will post 13.64 EPS for the current fiscal year.

Nucor announced that its board has authorized a share buyback plan on Friday, February 20th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Nucor's dividend payout ratio (DPR) is 22.18%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. The Goldman Sachs Group increased their price objective on Nucor from $240.00 to $260.00 in a report on Friday. Morgan Stanley increased their price objective on Nucor from $180.00 to $227.00 and gave the company an "equal weight" rating in a report on Wednesday, April 29th. Citigroup increased their price objective on Nucor from $180.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday. BMO Capital Markets increased their price objective on Nucor from $196.00 to $235.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Finally, Seaport Research Partners reissued a "buy" rating and set a $245.00 price objective on shares of Nucor in a report on Thursday. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Nucor currently has an average rating of "Moderate Buy" and an average price target of $240.00.

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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