Regal Partners Ltd Reduces Holdings in Nucor Corporation $NUE

Regal Partners Ltd lowered its stake in shares of Nucor Corporation (NYSE:NUE) by 70.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,101 shares of the basic materials company’s stock after selling 51,563 shares during the quarter. Regal Partners Ltd’s holdings in Nucor were worth $2,993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of NUE. Berkshire Hathaway Inc purchased a new position in shares of Nucor during the 2nd quarter worth approximately $856,792,000. Norges Bank purchased a new position in shares of Nucor in the 2nd quarter valued at approximately $479,858,000. Greenwich Wealth Management LLC purchased a new position in shares of Nucor in the 2nd quarter valued at approximately $123,145,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Nucor during the second quarter valued at approximately $105,435,000. Finally, AQR Capital Management LLC boosted its position in shares of Nucor by 580.9% during the second quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after purchasing an additional 557,819 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NUE shares. The Goldman Sachs Group increased their price objective on Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, January 16th. JPMorgan Chase & Co. upped their target price on shares of Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Wall Street Zen lowered shares of Nucor from a “buy” rating to a “hold” rating in a research note on Saturday. Morgan Stanley reissued an “equal weight” rating and set a $180.00 price target (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Finally, Seaport Research Partners boosted their price objective on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.90.

Insider Activity

In other news, EVP Kenneth Rex Query sold 7,452 shares of the company’s 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 in the company, valued at approximately $15,020,620.56. This represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas J. Batterbee sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total transaction of $330,560.00. Following the sale, the executive vice president owned 17,952 shares in the company, valued at approximately $2,967,106.56. The trade was a 10.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 34,351 shares of company stock valued at $6,206,158 over the last ninety days. 0.46% of the stock is currently owned by corporate insiders.

Nucor Trading Down 2.0%

NYSE NUE opened at $168.58 on Friday. Nucor Corporation has a 12 month low of $97.59 and a 12 month 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. The stock’s fifty day moving average price is $176.90 and its 200-day moving average price is $157.76. The stock has a market cap of $38.40 billion, a P/E ratio of 22.36, a P/E/G ratio of 0.61 and a beta of 1.83.

Nucor (NYSE:NUE) last posted its quarterly 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 company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.Nucor’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 EPS. As a group, equities analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

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

Nucor announced that its board has approved a share 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 generally an indication that the company’s management 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.