Lighthouse Investment Partners LLC Has $9.37 Million Holdings in Nucor Corporation $NUE

Key Points

• Lighthouse Investment Partners LLC increased its Nucor stake by 228.8% to 69,190 shares, worth about $9.37 million according to its latest SEC filing.
• Nucor's board approved a $4.00 billion share repurchase (up to ~9.7% of stock) and declared a quarterly dividend of $0.56 ($2.24 annualized, ~1.4% yield).
• Nucor missed Q results with EPS of $1.73 and revenue of $7.69 billion versus higher estimates, but analysts remain mostly positive with an average "Moderate Buy" rating and a $187.90 mean price target.

Lighthouse Investment Partners LLC grew its position in Nucor Corporation (NYSE:NUE - Free Report) by 228.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 69,190 shares of the basic materials company's stock after acquiring an additional 48,147 shares during the period. Lighthouse Investment Partners LLC's holdings in Nucor were worth $9,370,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. AXS Investments LLC bought a new position in Nucor in the third quarter valued at about $37,000. Vision Financial Markets LLC boosted its stake 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 purchasing an additional 200 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Nucor during the second quarter worth about $39,000. Caitlin John LLC acquired a new position in shares of Nucor in the third quarter valued at approximately $41,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after buying an additional 153 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Trading Down 1.3%

NUE opened at $163.52 on Monday. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $196.90. 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 company has a fifty day moving average of $177.20 and a 200-day moving average of $158.58. The stock has a market cap of $37.25 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 0.58 and a beta of 1.83.

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

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

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor's payout ratio is currently 29.71%.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of Nucor stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the completion of the sale, the executive vice president directly owned 88,298 shares in the company, valued at approximately $15,717,044. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the transaction, the executive vice president directly owned 76,628 shares in the company, valued at approximately $15,020,620.56. This trade represents a 8.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 34,351 shares of company stock valued at $6,206,158 over the last 90 days. 0.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on NUE shares. Jefferies Financial Group lifted their target price on shares of Nucor from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, January 12th. UBS Group cut shares of Nucor from a "buy" rating to a "neutral" rating and set a $183.00 price target for the company. in a research report on Wednesday, January 28th. JPMorgan Chase & Co. raised their price target on shares of Nucor from $175.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday, December 5th. Wells Fargo & Company lifted their price target on shares of Nucor from $184.00 to $194.00 and gave the stock an "overweight" rating in a report on Monday, March 2nd. Finally, The Goldman Sachs Group boosted their price objective on shares of Nucor from $182.00 to $196.00 and gave the stock a "buy" rating in a research note on Friday, January 16th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $187.90.

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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