Swiss Life Asset Management Ltd Reduces Position in Nucor Corporation $NUE

Swiss Life Asset Management Ltd decreased its position in Nucor Corporation (NYSE:NUE) by 23.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 48,843 shares of the basic materials company’s stock after selling 14,715 shares during the period. Swiss Life Asset Management Ltd’s holdings in Nucor were worth $6,615,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC grew its holdings in Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after acquiring an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Nucor during the first quarter valued at about $259,000. Geneos Wealth Management Inc. boosted its holdings 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 during the period. Sivia Capital Partners LLC purchased a new stake in shares of Nucor during the second quarter worth about $390,000. Finally, Wealthspire Advisors LLC bought a new stake in shares of Nucor in the second quarter worth about $717,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 3,881 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $178.00, for a total value of $690,818.00. Following the sale, the executive vice president directly owned 88,298 shares of the company’s stock, valued at $15,717,044. This represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas J. Batterbee sold 2,000 shares of Nucor stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $165.28, for a total transaction of $330,560.00. Following the transaction, the executive vice president directly owned 17,952 shares of the company’s stock, valued at approximately $2,967,106.56. This trade represents a 10.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,401 shares of company stock worth $5,266,712 in the last ninety days. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on NUE shares. BMO Capital Markets upped their price target on Nucor from $190.00 to $196.00 and gave the company an “outperform” rating in a research report on Tuesday, March 3rd. Jefferies Financial Group lifted their price objective on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. JPMorgan Chase & Co. boosted their target price on Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. BNP Paribas Exane upped their target price on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Finally, UBS Group raised their price target on Nucor from $183.00 to $184.00 and gave the stock a “neutral” rating in a research note on Monday, March 16th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $188.30.

Nucor Stock Performance

Shares of NUE opened at $158.84 on Friday. The company has a 50-day simple moving average of $176.65 and a two-hundred day simple moving average of $158.96. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. The firm has a market capitalization of $36.18 billion, a PE ratio of 21.07, a price-to-earnings-growth ratio of 0.57 and a beta of 1.83. Nucor Corporation has a one year low of $97.59 and a one year high of $196.90.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter last year, the company posted $1.22 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. On average, analysts anticipate that Nucor Corporation will post 7.64 EPS for the current fiscal year.

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

Nucor Dividend Announcement

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

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.