Strid Group LLC Lowers Position in Nucor Corporation $NUE

Key Points

• Nucor's board authorized a $4.0 billion buyback (up to 9.7% of outstanding shares) and declared a quarterly dividend of $0.56 ($2.24 annual, ~1.2% yield).
• The company missed Q4 estimates—EPS of $1.73 vs. $1.91 expected and revenue of $7.69B vs. $7.93B—though revenue rose 8.6% year‑over‑year and analysts hold a "Moderate Buy" consensus with a ~$195.60 price target.
• Strid Group LLC trimmed its stake by 11.0% to 84,777 shares (~$13.83M); institutional investors own 76.48% of Nucor and insiders sold about 26,401 shares (~$4.94M) in the last quarter.

Strid Group LLC reduced its position in Nucor Corporation (NYSE:NUE - Free Report) by 11.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,777 shares of the basic materials company's stock after selling 10,432 shares during the quarter. Nucor makes up 1.7% of Strid Group LLC's portfolio, making the stock its 10th largest holding. Strid Group LLC's holdings in Nucor were worth $13,828,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Capital World Investors raised its position in Nucor by 20.1% in the third 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. Nordea Investment Management AB grew its position in shares of Nucor by 11.1% during the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company's stock worth $342,642,000 after buying an additional 210,577 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings in Nucor by 2.4% in the third quarter. Diamond Hill Capital Management Inc. now owns 1,685,250 shares of the basic materials company's stock valued at $228,233,000 after buying an additional 38,990 shares during the period. Legal & General Group Plc boosted its stake in Nucor by 11.2% in the third quarter. Legal & General Group Plc now owns 1,630,986 shares of the basic materials company's stock valued at $220,884,000 after acquiring an additional 164,021 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Nucor by 0.7% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,600,045 shares of the basic materials company's stock worth $216,695,000 after acquiring an additional 11,618 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 7,568 shares of Nucor stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total value of $1,426,568.00. Following the sale, the executive vice president directly owned 67,711 shares in the company, valued at approximately $12,763,523.50. The trade was a 10.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel R. Needham sold 3,881 shares of the business's stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $178.00, for a total transaction of $690,818.00. Following the sale, the executive vice president directly owned 88,298 shares in the company, valued at $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 26,401 shares of company stock worth $4,936,152. Corporate insiders own 0.62% of the company's stock.

Nucor Stock Performance

Shares of NUE stock opened at $189.63 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. Nucor Corporation has a 52 week low of $105.92 and a 52 week high of $196.90. The company's 50 day moving average price is $175.59 and its two-hundred day moving average price is $163.23. The company has a market capitalization of $43.17 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 0.69 and a beta of 1.73.

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

Nucor announced that its board has initiated a stock repurchase program on Friday, February 20th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 9.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor's dividend payout ratio (DPR) is currently 29.71%.

Analyst Ratings Changes

Several research firms have recently issued reports on NUE. UBS Group upgraded Nucor from a "neutral" rating to a "buy" rating and raised their price target for the stock from $184.00 to $190.00 in a research report on Thursday, March 26th. BNP Paribas Exane upped their price target on Nucor from $165.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, January 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of Nucor in a research note on Monday, December 29th. Wells Fargo & Company reiterated an "overweight" rating and issued a $213.00 target price on shares of Nucor in a report on Wednesday. Finally, Wall Street Zen cut shares of Nucor from a "buy" rating to a "hold" rating in a research report on Saturday, April 11th. Nine research 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.com, Nucor currently has a consensus rating of "Moderate Buy" and a consensus price target of $195.60.

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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