ProShare Advisors LLC Sells 78,808 Shares of Nucor Corporation $NUE

Key Points

• ProShare Advisors cut its Nucor stake by 9.7%, selling 78,808 shares and retaining 737,478 shares valued at approximately $172.4 million. Institutional investors and hedge funds collectively own 76.48% of Nucor.
• Nucor reported 32% year-over-year revenue growth to $11.25 billion, though quarterly EPS of $5.80 narrowly missed estimates of $5.84. The company declared its regular $0.56 quarterly dividend, equal to a 0.8% annualized yield.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $284, while recent executive share sales and the stock’s proximity to its 12-month high provide cautionary signals.

ProShare Advisors LLC lessened its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 9.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 737,478 shares of the basic materials company's stock after selling 78,808 shares during the quarter. ProShare Advisors LLC owned approximately 0.33% of Nucor worth $172,385,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vise Technologies Inc. grew its position in shares of Nucor by 18.0% in the third quarter. Vise Technologies Inc. now owns 12,997 shares of the basic materials company's stock valued at $3,038,000 after purchasing an additional 1,983 shares in the last quarter. Investment Partners LTD. raised its holdings in shares of Nucor by 11.2% during the 3rd quarter. Investment Partners LTD. now owns 1,116 shares of the basic materials company's stock worth $261,000 after acquiring an additional 112 shares during the period. Global Assets Advisory LLC purchased a new position in shares of Nucor during the 3rd quarter worth $215,000. Summit Global Investments boosted its position in shares of Nucor by 157.7% during the 3rd quarter. Summit Global Investments now owns 4,043 shares of the basic materials company's stock valued at $945,000 after acquiring an additional 2,474 shares during the last quarter. Finally, Modera Wealth Management LLC boosted its position in shares of Nucor by 2.2% during the 3rd quarter. Modera Wealth Management LLC now owns 7,894 shares of the basic materials company's stock valued at $1,845,000 after acquiring an additional 170 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Down 0.7%

Shares of NYSE:NUE opened at $273.47 on Friday. The firm has a 50 day simple moving average of $253.79 and a 200-day simple moving average of $223.43. Nucor Corporation has a twelve month low of $140.93 and a twelve month high of $280.11. The company has a current ratio of 2.46, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $62.04 billion, a PE ratio of 17.41, a P/E/G ratio of 0.67 and a beta of 1.84.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing analysts' consensus estimates of $5.84 by ($0.04). Nucor had a net margin of 9.26% and a return on equity of 15.53%. The firm had revenue of $11.25 billion during the quarter, compared to analysts' expectations of $10.84 billion. During the same quarter in the prior year, the firm posted $2.63 EPS. Nucor's quarterly revenue was up 32.0% compared to the same quarter last year. On average, equities analysts predict that Nucor Corporation will post 19.61 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, September 30th. Nucor's payout ratio is presently 14.26%.

Insider Buying and Selling at Nucor

In related news, EVP Noah Hanners sold 5,190 shares of the stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $275.03, for a total transaction of $1,427,405.70. Following the transaction, the executive vice president directly owned 44,073 shares in the company, valued at approximately $12,121,397.19. This represents a 10.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas Batterbee sold 4,000 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the transaction, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. The trade was a 19.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.62% of the stock is owned by company insiders.

Key Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Freedom Broker upgraded Nucor from “hold” to “strong buy,” adding to bullish sentiment. Barclays and JPMorgan also forecast significant price appreciation for the shares. Freedom Broker stock recommendations
• Positive Sentiment: Investor attention remains focused on Nucor’s potential exposure to artificial-intelligence infrastructure and broader construction demand, which could support steel volumes and earnings as data-center and infrastructure investment expands. Why Nucor could be an overlooked AI infrastructure winner
• Positive Sentiment: Nucor’s latest quarter showed strong underlying demand: revenue increased 32% year over year to $11.25 billion, exceeding estimates, while earnings per share more than doubled from the prior-year period. The company also declared its regular $0.56 quarterly dividend. Nucor financial information
• Neutral Sentiment: Analyst opinion remains broadly constructive, with a “Moderate Buy” consensus and an average price target of $284, although that target offers limited upside from recent trading levels. Wells Fargo raised its target to $305, while other firms have reduced targets or maintained more cautious ratings. Nucor and Steel Dynamics steel outlook
• Negative Sentiment: Wall Street Zen lowered its rating on Nucor, creating a counterweight to the Freedom Broker upgrade and highlighting uncertainty after the stock’s substantial rally.
• Negative Sentiment: Executive Vice President Noah Hanners sold 5,190 shares worth approximately $1.43 million, reducing his direct ownership by 10.54%. While such sales may be scheduled or personal, insider selling can weigh on sentiment.
• Negative Sentiment: Nucor narrowly missed quarterly EPS expectations, reporting $5.80 versus the $5.84 consensus. Meanwhile, broader markets have been unsettled by the Federal Reserve’s lack of forward guidance and concerns about whether heavy AI investment can be sustained.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NUE. Freedom Broker raised shares of Nucor from a "hold" rating to a "strong-buy" rating in a research note on Friday. Citigroup reissued a "buy" rating on shares of Nucor in a research note on Wednesday, July 29th. Piper Sandler set a $304.00 target price on Nucor in a research report on Friday. Weiss Ratings raised Nucor from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 15th. Finally, Zacks Research upgraded Nucor from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Nucor presently has an average rating of "Buy" and a consensus price target of $284.00.

Nucor Company Profile

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor's operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.

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