iSAM Funds UK Ltd Takes Position in Nucor Corporation $NUE

iSAM Funds UK Ltd acquired a new position in shares of Nucor Corporation (NYSE:NUE) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 10,658 shares of the basic materials company’s stock, valued at approximately $1,443,000.

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

Insider Activity

In other news, EVP Thomas J. Batterbee sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total value of $330,560.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allen C. Behr sold 7,568 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the completion of the sale, the executive vice president directly owned 67,711 shares in the company, valued at approximately $12,763,523.50. This represents a 10.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 34,351 shares of company stock worth $6,206,158 over the last quarter. Company insiders own 0.46% of the company’s stock.

Nucor Trading Down 1.3%

NYSE NUE opened at $163.52 on Friday. The firm has a market capitalization of $37.25 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 0.59 and a beta of 1.83. The business’s 50-day moving average price is $177.20 and its two-hundred day moving average price is $158.45. 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 Corporation has a 12 month low of $97.59 and a 12 month high of $196.90.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). The company had revenue of $7.69 billion for 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%.Nucor’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 earnings per share. On average, analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor announced that its Board of Directors has authorized a share buyback program on Friday, February 20th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Nucor Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have issued reports on NUE. Wall Street Zen cut Nucor from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Jefferies Financial Group lifted their price target on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a report on Monday, December 29th. UBS Group downgraded Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price objective for the company. in a research note on Wednesday, January 28th. Finally, Wells Fargo & Company raised their price objective on shares of Nucor from $184.00 to $194.00 and gave the company an “overweight” rating in a report on Monday, March 2nd. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $187.90.

Nucor Company 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.