University of Texas Texas AM Investment Management Co. Invests $485,000 in Nucor Corporation $NUE

University of Texas Texas AM Investment Management Co. purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,974 shares of the basic materials company’s stock, valued at approximately $485,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Nucor by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock worth $4,633,554,000 after purchasing an additional 144,038 shares in the last quarter. Morgan Stanley boosted its position in shares of Nucor by 1.1% during the fourth quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after purchasing an additional 41,728 shares in the last quarter. Norges Bank bought a new position in shares of Nucor during the fourth quarter worth $609,002,000. Capital World Investors boosted its position in shares of Nucor by 20.1% during 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. Finally, Nordea Investment Management AB boosted its position in shares of Nucor by 11.1% during the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock worth $342,642,000 after purchasing an additional 210,577 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of recent analyst reports. KeyCorp assumed coverage on shares of Nucor in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Jefferies Financial Group boosted their price objective on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Zacks Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Weiss Ratings raised shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 14th. Finally, BNP Paribas Exane boosted their price objective on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.50.

More Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Goldman Sachs raised its price target on Nucor to $284 from $260 and reiterated a buy rating, signaling further upside from current levels. MarketScreener
• Positive Sentiment: Nucor was highlighted in Zacks relative-price-strength screens, which point to strong recent performance and rising earnings estimate revisions. Yahoo Finance/Zacks
• Positive Sentiment: Recent articles noted that Nucor has posted strong short-term and longer-term share-price gains, prompting investors to reassess valuation but also reinforcing momentum in the stock. Yahoo Finance
• Neutral Sentiment: Other market commentary compared Nucor’s performance with peers in basic materials and noted sector-wide rotation, but did not point to a company-specific catalyst. Yahoo Finance
• Neutral Sentiment: Articles about Nucor being a “relative price strength winner” and a momentum stock are supportive, but they mainly reflect recent trading behavior rather than a new fundamental development. Yahoo Finance

Insider Activity

In other Nucor news, EVP Randy J. Spicer sold 2,500 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $225.00, for a total transaction of $562,500.00. Following the sale, the executive vice president directly owned 20,510 shares of the company’s stock, valued at $4,614,750. The trade was a 10.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Bradley Ford sold 2,240 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total transaction of $519,971.20. Following the sale, the executive vice president directly owned 43,649 shares in the company, valued at $10,132,242.37. This trade represents a 4.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is currently owned by company insiders.

Nucor Trading Up 0.0%

Shares of NYSE:NUE opened at $259.36 on Wednesday. The company’s 50-day moving average price is $226.08 and its two-hundred day moving average price is $190.36. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. Nucor Corporation has a one year low of $120.40 and a one year high of $270.90. The stock has a market capitalization of $59.07 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 0.66 and a beta of 1.88.

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

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.9%. Nucor’s payout ratio is 22.18%.

Nucor declared that its board has authorized a stock repurchase 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 purchase up to 9.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.