Nucor Corporation $NUE Shares Sold by iSAM Funds UK Ltd

Key Points

• iSAM Funds UK Ltd cut its Nucor stake by 77.6% in the second quarter, selling 7,268 shares and retaining 2,100 shares worth approximately $468,000. Institutional investors collectively own 76.48% of Nucor.
• Nucor reported quarterly EPS of $4.84, exceeding estimates of $4.46, while revenue rose 23% year over year to $10.40 billion. The company also maintains a quarterly dividend of $0.56 per share, equivalent to a 0.8% yield.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $272.38; Barclays recently raised its target to $295. Insiders sold shares, including executives Thomas Batterbee and Stephen Laxton.

iSAM Funds UK Ltd lowered its position in Nucor Corporation (NYSE:NUE - Free Report) by 77.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,100 shares of the basic materials company's stock after selling 7,268 shares during the period. iSAM Funds UK Ltd's holdings in Nucor were worth $468,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Transamerica Financial Advisors LLC purchased a new stake in Nucor during the second quarter worth $25,000. Stance Capital LLC acquired a new position in shares of Nucor during the 3rd quarter worth $25,000. Manning & Napier Advisors LLC purchased a new stake in shares of Nucor in the 2nd quarter worth about $27,000. Strive Financial Group LLC purchased a new stake in shares of Nucor in the 4th quarter worth about $27,000. Finally, Bell Investment Advisors Inc acquired a new stake in Nucor in the 2nd quarter valued at about $28,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In related news, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the sale, the executive vice president owned 16,138 shares of the company's stock, valued at approximately $4,212,340.76. This represents a 19.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the sale, the chief operating officer directly owned 77,867 shares of the company's stock, valued at approximately $20,008,704.32. This trade represents a 4.85% 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 Stock Performance

NYSE:NUE opened at $263.80 on Thursday. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The company has a market cap of $59.85 billion, a P/E ratio of 21.04, a P/E/G ratio of 0.93 and a beta of 1.87. Nucor Corporation has a fifty-two week low of $131.32 and a fifty-two week high of $280.11. The firm's 50 day moving average is $247.46 and its two-hundred day moving average is $220.49.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.38. The company had revenue of $10.40 billion during the quarter, compared to analysts' expectations of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business's quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.60 EPS. Analysts expect that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.56 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.8%. Nucor's dividend payout ratio is currently 17.86%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Nucor from $272.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Wall Street Zen raised shares of Nucor from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Zacks Research downgraded Nucor from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. KeyCorp raised Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 target price on the stock in a research note on Wednesday, June 24th. Finally, CICC Research started coverage on Nucor in a report on Monday, May 25th. They set an "outperform" rating on the stock. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $272.38.

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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