Y.D. More Investments Ltd Acquires New Shares in Nucor Corporation $NUE

Key Points

• Y.D. More Investments bought a new stake of 8,002 Nucor shares in Q4, valued at about $1.305 million.
• The Nucor board approved a $4.0 billion share buyback (up to 9.7% of outstanding shares) and declared a quarterly dividend of $0.56 per share (1.3% yield), payable May 11.
• Insiders have been net sellers recently, disposing of 26,401 shares (~$4.94 million) in the last 90 days — including large sales by EVPs Allen Behr and Kenneth Rex Query — leaving insiders with 0.46% ownership.

Y.D. More Investments Ltd purchased a new stake in Nucor Corporation (NYSE:NUE - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,002 shares of the basic materials company's stock, valued at approximately $1,305,000.

A number of other hedge funds have also recently added to or reduced their stakes in NUE. Rosenberg Matthew Hamilton increased its stake in shares of Nucor by 3.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company's stock worth $328,000 after purchasing an additional 69 shares during the last quarter. Whittier Trust Co. raised its holdings in shares of Nucor by 5.6% during the 3rd quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company's stock valued at $184,000 after purchasing an additional 70 shares in the last quarter. HUB Investment Partners LLC lifted its stake in shares of Nucor by 1.9% in the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company's stock valued at $531,000 after purchasing an additional 75 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Nucor by 23.2% in the third quarter. Versant Capital Management Inc now owns 425 shares of the basic materials company's stock worth $58,000 after purchasing an additional 80 shares in the last quarter. Finally, True North Advisors LLC boosted its holdings in Nucor by 3.9% in the third quarter. True North Advisors LLC now owns 2,195 shares of the basic materials company's stock worth $297,000 after purchasing an additional 82 shares in the last quarter. 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 the firm's 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 $12,763,523.50. This trade represents a 10.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 7,452 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the transaction, the executive vice president owned 76,628 shares in the company, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,401 shares of company stock valued at $4,936,152 in the last ninety days. Company insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on NUE. The Goldman Sachs Group initiated coverage on Nucor in a research note on Wednesday, April 1st. They set a "buy" rating and a $210.00 price target for the company. Wells Fargo & Company boosted their target price on Nucor from $194.00 to $197.00 and gave the stock an "overweight" rating in a report on Friday, March 20th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nucor in a research report on Monday, December 29th. Seaport Research Partners increased their price target on Nucor from $170.00 to $185.00 and gave the company a "buy" rating in a report on Friday, January 30th. Finally, Jefferies Financial Group boosted their price objective on shares of Nucor from $190.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, January 12th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Nucor currently has an average rating of "Moderate Buy" and an average price target of $190.30.

Nucor Price Performance

Shares of NYSE:NUE opened at $172.26 on Monday. The company has a market cap of $39.21 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 0.62 and a beta of 1.73. The business has a 50 day moving average price of $175.10 and a 200 day moving average price of $160.73. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. Nucor Corporation has a twelve month low of $97.59 and a twelve month high of $196.90.

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

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

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, March 31st. Nucor's dividend payout ratio is presently 29.71%.

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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