NFJ Investment Group LLC Invests $19.63 Million in Nucor Corporation $NUE

NFJ Investment Group LLC bought a new position in shares of Nucor Corporation (NYSE:NUE) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 120,328 shares of the basic materials company’s stock, valued at approximately $19,627,000.

Other large investors have also recently made changes to their positions in the company. Stance Capital LLC purchased a new stake in shares of Nucor during the third quarter worth approximately $25,000. Ares Financial Consulting LLC purchased a new stake in shares of Nucor during the fourth quarter worth approximately $45,000. Caitlin John LLC purchased a new stake in shares of Nucor during the third quarter worth approximately $41,000. Geneos Wealth Management Inc. increased its position in shares of Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 153 shares in the last quarter. Finally, Quarry LP increased its position in shares of Nucor by 142.6% during the fourth quarter. Quarry LP now owns 342 shares of the basic materials company’s stock worth $56,000 after purchasing an additional 201 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: JPMorgan raised its price target on Nucor to $282 from $240 and reiterated an Overweight rating, citing expectations for strong second-quarter results. JPMorgan Raises Nucor (NUE) Forecast Ahead of Expected Strong Q2 Results
• Positive Sentiment: BofA also boosted its price target on Nucor to $290 from $265, reinforcing a constructive view on the company’s earnings and valuation outlook. BofA adjusts price target on Nucor to $290 from $265
• Positive Sentiment: Recent coverage notes that Nucor has delivered a very strong one-year share performance, keeping investor attention on whether the rally can continue. Nucor (NUE) Stock After 124% One-Year Surge Is There Still Value Here
• Neutral Sentiment: An article asking whether Nucor is still a good stock to buy now reflects continued investor debate about valuation after the stock’s sharp run-up. Is Nucor Corporation (NUE) A Good Stock To Buy Now?

Insiders Place Their Bets

In other news, EVP David A. Sumoski sold 33,068 shares of the company’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $225.67, for a total value of $7,462,455.56. Following the transaction, the executive vice president owned 243,339 shares of the company’s stock, valued at $54,914,312.13. This represents a 11.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Allen C. Behr sold 10,096 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $226.08, for a total value of $2,282,503.68. Following the completion of the transaction, the executive vice president directly owned 62,871 shares in the company, valued at approximately $14,213,875.68. This trade represents a 13.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 82,378 shares of company stock worth $18,963,930. Corporate insiders own 0.62% of the company’s stock.

Nucor Stock Up 2.0%

Shares of NYSE:NUE opened at $266.06 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $222.60 and a two-hundred day moving average of $188.67. The stock has a market cap of $60.59 billion, a P/E ratio of 26.34, a PEG ratio of 0.68 and a beta of 1.88. Nucor Corporation has a 52-week low of $117.21 and a 52-week high of $268.80.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.41. The company had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.77 EPS. On average, research analysts expect that Nucor Corporation will post 15.71 earnings per share for the current year.

Nucor declared that its board has initiated a stock buyback program on Friday, February 20th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 9.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s dividend payout ratio is 22.18%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Citigroup boosted their price target on Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Morgan Stanley boosted their price target on Nucor from $180.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. BNP Paribas Exane boosted their price target on Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. BofA boosted their price target on Nucor from $265.00 to $290.00 in a research report on Friday. Finally, Jefferies Financial Group boosted their price target on Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $261.54.

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.