Nucor Corporation $NUE Shares Acquired by Cambria Investment Management L.P.

Key Points

• Cambria Investment Management L.P. increased its stake in Nucor by 12.6%, acquiring 7,225 shares to hold 64,473 shares valued at about $8.39 million.
• Nucor's Board authorized a $4.00 billion share repurchase program (roughly 9.7% of shares) and declared a quarterly dividend of $0.56 ($2.24 annualized, ~1.3% yield).
• Nucor missed quarterly estimates, reporting $1.73 EPS vs. $1.91 expected and revenue of $7.69 billion vs. $7.93 billion, though revenue was up 8.6% year-over-year.

Cambria Investment Management L.P. lifted its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 64,473 shares of the basic materials company's stock after acquiring an additional 7,225 shares during the period. Cambria Investment Management L.P.'s holdings in Nucor were worth $8,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. IMA Advisory Services Inc. raised its stake in Nucor by 51.4% during the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company's stock worth $29,000 after purchasing an additional 75 shares during the period. AXS Investments LLC acquired a new stake in shares of Nucor during the 3rd quarter worth approximately $37,000. Vision Financial Markets LLC increased its holdings in shares of Nucor by 281.7% during the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company's stock worth $37,000 after buying an additional 200 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Nucor during the 2nd quarter valued at approximately $39,000. Finally, Caitlin John LLC acquired a new position in Nucor in the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Nucor Stock Performance

Shares of Nucor stock opened at $176.07 on Thursday. The stock has a market capitalization of $40.10 billion, a price-to-earnings ratio of 23.35, a price-to-earnings-growth ratio of 0.64 and a beta of 1.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The business has a 50-day moving average of $176.70 and a 200 day moving average of $157.41. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $196.90.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly 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). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the company posted $1.22 EPS. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor declared that its Board of Directors has initiated a share repurchase program on Friday, February 20th that permits the company to repurchase $4.00 billion in 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 usually a sign that the company's leadership believes its shares are undervalued.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be paid a $0.56 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.3%. Nucor's payout ratio is 29.71%.

Insider Buying and Selling

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the sale, the executive vice president owned 88,298 shares of the company's stock, valued at $15,717,044. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth Rex Query sold 7,452 shares of Nucor stock in a transaction dated 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 owned 76,628 shares of the company's stock, valued at $15,020,620.56. The trade was a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 34,351 shares of company stock worth $6,206,158 over the last ninety days. Insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. The Goldman Sachs Group raised their target price on Nucor from $182.00 to $196.00 and gave the stock a "buy" rating in a research note on Friday, January 16th. Weiss Ratings reissued a "hold (c)" rating on shares of Nucor in a research report on Monday, December 29th. Jefferies Financial Group boosted their price objective on shares of Nucor from $190.00 to $200.00 and gave the company a "buy" rating in a report on Monday, January 12th. Wall Street Zen raised shares of Nucor from a "hold" rating to a "buy" rating in a research report on Saturday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Nucor from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Friday, December 5th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $182.80.

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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