Inceptionr LLC Makes New $834,000 Investment in Nucor Corporation $NUE

Key Points

• Inceptionr LLC acquired a new stake of 6,160 shares of Nucor in the third quarter, valued at approximately $834,000, joining other large institutional buyers such as Berkshire Hathaway and Norges Bank that built sizable positions.
• The company’s Board approved a $4.00 billion share repurchase program (up to 9.7% of shares) and declared a quarterly dividend of $0.56 (1.3% yield), signaling management confidence in the stock.
• Nucor recently missed quarterly estimates (EPS $1.73 vs. $1.91 consensus; revenue $7.69B vs. $7.93B) but has seen several analyst price-target increases and holds a consensus rating of "Moderate Buy" with an average target of $187.90.

Inceptionr LLC acquired a new stake in shares of Nucor Corporation (NYSE:NUE - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,160 shares of the basic materials company's stock, valued at approximately $834,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Berkshire Hathaway Inc bought a new stake in Nucor during the second quarter valued at about $856,792,000. Norges Bank bought a new position in shares of Nucor in the second quarter worth about $479,858,000. Greenwich Wealth Management LLC purchased a new position in shares of Nucor during the 2nd quarter valued at about $123,145,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Nucor during the 2nd quarter valued at about $105,435,000. Finally, AQR Capital Management LLC grew its stake in shares of Nucor by 580.9% during the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company's stock valued at $84,699,000 after acquiring an additional 557,819 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the firm'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 completion of the transaction, the executive vice president owned 88,298 shares in the company, valued at $15,717,044. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Allen C. Behr sold 7,568 shares of Nucor stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 67,711 shares in the company, valued at approximately $12,763,523.50. The trade was a 10.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,351 shares of company stock valued at $6,206,158 in the last ninety days. Corporate insiders own 0.71% of the company's stock.

Nucor Price Performance

Shares of NYSE:NUE opened at $169.18 on Tuesday. The firm has a market cap of $38.53 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 0.61 and a beta of 1.83. The firm has a fifty day moving average price of $176.97 and a 200 day moving average price of $158.04. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $196.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The business's revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

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

Nucor Dividend Announcement

The company also recently announced 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 1.3%. The ex-dividend date is Tuesday, March 31st. Nucor's payout ratio is currently 29.71%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on NUE. BNP Paribas Exane lifted their price target on shares of Nucor from $165.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, January 2nd. BMO Capital Markets lifted their target price on shares of Nucor from $190.00 to $196.00 and gave the company an "outperform" rating in a research note on Tuesday, March 3rd. Morgan Stanley reaffirmed an "equal weight" rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a report on Friday, January 9th. The Goldman Sachs Group increased their price target on Nucor from $182.00 to $196.00 and gave the stock a "buy" rating in a research note on Friday, January 16th. Finally, JPMorgan Chase & Co. raised their price target on Nucor from $175.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, December 5th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Nucor has a consensus rating of "Moderate Buy" and an average target price of $187.90.

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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