Robeco Institutional Asset Management B.V. Lowers Position in Nucor Corporation $NUE

Key Points

• Robeco Institutional Asset Management cut its stake in Nucor by 28.3% in Q4, selling 24,500 shares and leaving 62,104 shares valued at $10.13 million, while institutional investors collectively own 76.48% of the company.
• Nucor's Board authorized a $4.0 billion share repurchase program (up to 9.7% of shares) and declared a quarterly dividend of $0.56 ($2.24 annual, ~1.2% yield).
• The company missed quarterly estimates (EPS $1.73 vs. $1.91; revenue $7.69B vs. $7.93B), but analysts remain generally bullish with a "Moderate Buy" consensus and an average price target of $195.60.

Robeco Institutional Asset Management B.V. lessened its stake in Nucor Corporation (NYSE:NUE - Free Report) by 28.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,104 shares of the basic materials company's stock after selling 24,500 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Nucor were worth $10,130,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NUE. AQR Capital Management LLC boosted its position in Nucor by 580.9% in the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company's stock worth $84,699,000 after purchasing an additional 557,819 shares in the last quarter. Capital World Investors boosted its position in Nucor by 20.1% in 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 in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Nucor by 169.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company's stock worth $127,216,000 after purchasing an additional 489,950 shares in the last quarter. Holocene Advisors LP boosted its position in Nucor by 146.9% in the 3rd quarter. Holocene Advisors LP now owns 548,911 shares of the basic materials company's stock worth $74,339,000 after purchasing an additional 326,572 shares in the last quarter. Finally, Rakuten Investment Management Inc. purchased a new stake in Nucor in the 3rd quarter worth approximately $32,915,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the firm's stock in a transaction on Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the completion of the sale, the executive vice president directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the firm's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total value 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. This trade represents a 8.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,401 shares of company stock valued at $4,936,152 in the last three months. 0.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on NUE shares. Jefferies Financial Group upped their price objective on Nucor from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, April 10th. JPMorgan Chase & Co. upped their price objective on Nucor from $198.00 to $212.00 and gave the stock an "overweight" rating in a research report on Tuesday. BMO Capital Markets upped their price objective on Nucor from $190.00 to $196.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 3rd. KeyCorp initiated coverage on Nucor in a research report on Wednesday, March 25th. They set a "sector weight" rating on the stock. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Nucor in a research report on Monday, December 29th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $195.60.

Nucor Trading Down 0.2%

Shares of NUE stock opened at $189.63 on Thursday. The stock's fifty day moving average is $175.59 and its two-hundred day moving average is $163.23. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. The firm has a market capitalization of $43.17 billion, a P/E ratio of 25.15, a PEG ratio of 0.69 and a beta of 1.73. Nucor Corporation has a fifty-two week low of $105.92 and a fifty-two week high of $196.90.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts' consensus estimates of $1.91 by ($0.18). The firm had revenue of $7.69 billion during the quarter, compared to analysts' expectations of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 EPS. Research analysts expect that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor announced that its Board of Directors has initiated a share repurchase program on Friday, February 20th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Nucor Announces Dividend

The business also recently announced 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 of this dividend is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. Nucor's dividend payout ratio (DPR) is 29.71%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.