Dimensional Fund Advisors LP Has $358.85 Million Stock Position in Nucor Corporation $NUE

Dimensional Fund Advisors LP lowered its position in shares of Nucor Corporation (NYSE:NUE) by 17.1% during the third quarter, Holdings Channel reports. The fund owned 2,649,660 shares of the basic materials company’s stock after selling 545,410 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Nucor were worth $358,851,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. IMA Advisory Services Inc. lifted its holdings in shares of Nucor by 51.4% in the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 75 shares in the last quarter. AXS Investments LLC acquired a new position in Nucor during the third quarter valued at $37,000. Vision Financial Markets LLC lifted its stake in Nucor by 281.7% in the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Caitlin John LLC acquired a new stake in Nucor during the 3rd quarter worth about $41,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Nucor during the 2nd quarter valued at about $39,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. The Goldman Sachs Group boosted their price target on shares of Nucor from $182.00 to $196.00 and gave the company a “buy” rating in a report on Friday, January 16th. Seaport Research Partners increased their price objective on Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Jefferies Financial Group lifted their price objective on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $182.80.

Nucor Trading Down 2.3%

Shares of NYSE:NUE opened at $172.03 on Friday. The stock has a market capitalization of $39.18 billion, a PE ratio of 22.82, a P/E/G ratio of 0.63 and a beta of 1.83. The firm has a fifty day moving average price of $176.86 and a 200 day moving average price of $157.51. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $196.90. 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 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). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the business posted $1.22 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis. Analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be given a $0.56 dividend. 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 (DPR) is currently 29.71%.

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

Insiders Place Their Bets

In other Nucor news, EVP Thomas J. Batterbee sold 2,000 shares of Nucor stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total value of $330,560.00. Following the transaction, the executive vice president directly owned 17,952 shares of the company’s stock, valued at $2,967,106.56. The trade was a 10.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Daniel R. Needham sold 3,881 shares of the business’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $178.00, for a total transaction of $690,818.00. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 34,351 shares of company stock worth $6,206,158. Corporate insiders own 0.46% of the company’s stock.

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.