Holocene Advisors LP Boosts Stock Position in Nucor Corporation $NUE

Holocene Advisors LP lifted its stake in shares of Nucor Corporation (NYSE:NUE) by 146.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 548,911 shares of the basic materials company’s stock after acquiring an additional 326,572 shares during the quarter. Holocene Advisors LP owned approximately 0.24% of Nucor worth $74,339,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NUE. AXS Investments LLC bought a new position in shares of Nucor in the third quarter worth approximately $37,000. Vision Financial Markets LLC increased its stake in shares of Nucor by 281.7% in the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Nucor during the 2nd quarter valued at $39,000. Caitlin John LLC purchased a new position in shares of Nucor during the 3rd quarter valued at $41,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after buying an additional 153 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In other news, EVP Thomas J. Batterbee sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total transaction of $330,560.00. Following the sale, the executive vice president directly owned 17,952 shares of the company’s stock, valued at $2,967,106.56. This represents a 10.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kenneth Rex Query sold 7,452 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the transaction, the executive vice president owned 76,628 shares of the company’s stock, valued at $15,020,620.56. This represents a 8.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,351 shares of company stock valued at $6,206,158 over the last 90 days. Insiders own 0.71% of the company’s stock.

Nucor Stock Down 0.4%

Shares of NUE stock opened at $162.78 on Tuesday. The stock has a market cap of $37.08 billion, a P/E ratio of 21.59, a PEG ratio of 0.58 and a beta of 1.83. The company’s fifty day simple moving average is $177.09 and its two-hundred day simple moving average is $158.67. 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 52 week low of $97.59 and a 52 week high of $196.90.

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). The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share. Analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor declared that its Board of Directors has approved a share repurchase 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 repurchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be paid a $0.56 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.4%. Nucor’s payout ratio is presently 29.71%.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price target on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, January 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $180.00 price objective (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. BMO Capital Markets boosted their price target on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen downgraded Nucor from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $188.00.

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.