Nkcfo LLC Has $6.46 Million Stock Holdings in Nucor Corporation $NUE

Key Points

• Nkcfo LLC doubled its stake in Nucor in the 4th quarter to 39,600 shares, a position valued at $6,459,000 that represents about 1.9% of its portfolio and is its 15th largest holding.
• Nucor beat quarterly expectations with EPS of $3.23 vs. $2.82 and revenue of $9.50 billion (+21.3% YoY), and the board authorized a $4.0 billion buyback (up to 9.7% of shares) while declaring a $0.56 quarterly dividend.
• Analysts have been lifting targets (Citigroup to $260, JPMorgan to $240, BMO to $235), leaving an average price target of $238 and a consensus rating of "Moderate Buy" (eight Buys, four Holds).

Nkcfo LLC increased its position in Nucor Corporation (NYSE:NUE - Free Report) by 100.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,600 shares of the basic materials company's stock after buying an additional 19,800 shares during the quarter. Nucor accounts for approximately 1.9% of Nkcfo LLC's investment portfolio, making the stock its 15th largest position. Nkcfo LLC's holdings in Nucor were worth $6,459,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Stance Capital LLC acquired a new position in shares of Nucor during the third quarter worth $25,000. AXS Investments LLC acquired a new position in shares of Nucor in the 3rd quarter worth approximately $37,000. Vision Financial Markets LLC boosted its stake in shares of Nucor by 281.7% in the 3rd 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 during the last quarter. Caitlin John LLC acquired a new stake in shares of Nucor during the third quarter worth $41,000. Finally, Geneos Wealth Management Inc. lifted its holdings in 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. 76.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NUE shares. BMO Capital Markets lifted their price objective on Nucor from $196.00 to $235.00 and gave the stock an "outperform" rating in a research report on Tuesday. Citigroup boosted their price target on Nucor from $180.00 to $260.00 and gave the company a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Nucor from $212.00 to $240.00 and gave the company an "overweight" rating in a research note on Wednesday. BNP Paribas Exane raised their price target on shares of Nucor from $185.00 to $210.00 and gave the stock an "outperform" rating in a report on Monday, April 20th. Finally, KeyCorp assumed coverage on shares of Nucor in a report on Wednesday, March 25th. They set a "sector weight" rating on the stock. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $238.00.

Insiders Place Their Bets

In related news, EVP Allen C. Behr sold 7,568 shares of the business's stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kenneth Rex Query sold 7,452 shares of the company's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the completion of the sale, the executive vice president directly owned 76,628 shares of the company's stock, valued at $15,020,620.56. The trade was a 8.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,520 shares of company stock worth $4,245,334 over the last ninety days. Insiders own 0.62% of the company's stock.

Nucor Trading Up 1.3%

NYSE:NUE opened at $225.31 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.57. Nucor Corporation has a one year low of $106.21 and a one year high of $227.48. The company has a market cap of $51.29 billion, a PE ratio of 22.31, a PEG ratio of 0.78 and a beta of 1.73. The firm has a 50-day moving average of $180.91 and a 200-day moving average of $168.78.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company's quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.77 EPS. As a group, equities research analysts expect that Nucor Corporation will post 12.56 EPS for the current fiscal year.

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. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 annualized dividend and a yield of 1.0%. Nucor's dividend payout ratio (DPR) is 22.18%.

Nucor announced that its Board of Directors has initiated a stock repurchase plan on Friday, February 20th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

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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