Huntington National Bank Sells 7,913 Shares of Nucor Corporation $NUE

Huntington National Bank cut its holdings in shares of Nucor Corporation (NYSE:NUE) by 14.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 45,473 shares of the basic materials company’s stock after selling 7,913 shares during the quarter. Huntington National Bank’s holdings in Nucor were worth $6,158,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Caitlin John LLC purchased a new position in shares of Nucor in the third quarter worth $41,000. Banco Santander S.A. grew its holdings in Nucor by 9.1% in the 3rd quarter. Banco Santander S.A. now owns 25,346 shares of the basic materials company’s stock worth $3,433,000 after acquiring an additional 2,105 shares during the last quarter. Xponance Inc. grew its holdings in Nucor by 7.8% in the 3rd quarter. Xponance Inc. now owns 56,271 shares of the basic materials company’s stock worth $7,621,000 after acquiring an additional 4,093 shares during the last quarter. DNB Asset Management AS increased its position in shares of Nucor by 3.4% in the third quarter. DNB Asset Management AS now owns 48,214 shares of the basic materials company’s stock valued at $6,530,000 after acquiring an additional 1,588 shares during the period. Finally, Choreo LLC raised its stake in shares of Nucor by 2.7% during the third quarter. Choreo LLC now owns 10,875 shares of the basic materials company’s stock valued at $1,473,000 after acquiring an additional 286 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NUE. UBS Group downgraded Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target on the stock. in a report on Wednesday, January 28th. Morgan Stanley reissued an “equal weight” rating and set a $180.00 target price (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. Wall Street Zen upgraded shares of Nucor from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. Finally, Wells Fargo & Company boosted their price objective on shares of Nucor from $176.00 to $184.00 and gave the company an “overweight” rating in a research report on Wednesday, January 28th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.36.

Nucor Trading Up 0.6%

Nucor stock opened at $176.64 on Friday. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $196.90. The company has a market capitalization of $40.23 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 0.64 and a beta of 1.86. The business’s fifty day simple moving average is $175.86 and its two-hundred day simple moving average is $156.72. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last issued its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share (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 firm had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the firm posted $1.22 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, equities analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

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

Nucor declared that its Board of Directors has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Nucor

In other Nucor news, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total value of $1,426,568.00. Following the transaction, the executive vice president owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This represents a 10.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kenneth Rex Query sold 7,452 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly 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. In the last quarter, insiders have sold 34,351 shares of company stock valued at $6,206,158. Corporate insiders own 0.46% of the company’s stock.

Nucor Company 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.