Pacer Advisors Inc. Sells 7,447 Shares of Nucor Corporation $NUE

Key Points

• Pacer Advisors cut its Nucor stake by 24.8% in Q4, selling 7,447 shares and leaving it with 22,621 shares valued at about $3.69 million.
• Wall Street sentiment is bullish: multiple analysts raised price targets, and the stock now carries a consensus Moderate Buy rating with a $266.92 average target.
• Nucor recently posted strong quarterly results, beating EPS and revenue estimates, while also announcing a $0.56 quarterly dividend payable August 11.

Pacer Advisors Inc. trimmed its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 24.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,621 shares of the basic materials company's stock after selling 7,447 shares during the quarter. Pacer Advisors Inc.'s holdings in Nucor were worth $3,690,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Nucor by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company's stock valued at $4,633,554,000 after acquiring an additional 144,038 shares during the period. Morgan Stanley lifted its stake in shares of Nucor by 1.1% during the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company's stock worth $628,497,000 after purchasing an additional 41,728 shares during the last quarter. Norges Bank purchased a new stake in shares of Nucor during the 4th quarter worth $609,002,000. Capital World Investors lifted its stake in shares of Nucor by 20.1% during the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company's stock worth $412,081,000 after purchasing an additional 509,019 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in Nucor by 11.1% during the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company's stock valued at $342,642,000 after purchasing an additional 210,577 shares in the last quarter. Institutional investors own 76.48% of the company's stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of several analyst reports. Zacks Research upgraded Nucor from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Jefferies Financial Group raised their price target on shares of Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Argus lifted their price objective on shares of Nucor from $200.00 to $262.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. BNP Paribas Exane lifted their price objective on shares of Nucor from $210.00 to $248.00 and gave the stock an "outperform" rating in a research report on Monday, May 4th. Finally, The Goldman Sachs Group boosted their price objective on shares of Nucor from $260.00 to $284.00 and gave the stock a "buy" rating in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $266.92.

Nucor Trading Down 2.3%

Shares of NYSE:NUE opened at $239.40 on Wednesday. Nucor Corporation has a 52-week low of $126.50 and a 52-week high of $270.90. The stock has a market cap of $54.52 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 0.63 and a beta of 1.88. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $232.68 and a 200-day moving average price of $193.31.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. Nucor's revenue for the quarter was up 21.3% on a year-over-year basis. Equities analysts predict that Nucor Corporation will post 15.68 EPS for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor's dividend payout ratio is 22.18%.

Insider Transactions at Nucor

In other Nucor news, EVP Bradley Ford sold 2,240 shares of the company's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total value of $519,971.20. Following the sale, the executive vice president directly owned 43,649 shares of the company's stock, valued at approximately $10,132,242.37. This represents a 4.88% 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 John J. Hollatz sold 10,560 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the sale, the executive vice president directly owned 97,865 shares in the company, valued at $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 82,378 shares of company stock valued at $18,963,930. 0.62% of the stock is owned by corporate insiders.

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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