Nucor Corporation $NUE Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lessened its holdings in Nucor Corporation (NYSE:NUE) by 11.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,616 shares of the basic materials company’s stock after selling 3,056 shares during the period. Manning & Napier Advisors LLC’s holdings in Nucor were worth $4,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Nucor by 745.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company’s stock valued at $13,614,000 after buying an additional 73,588 shares in the last quarter. Nordea Investment Management AB lifted its position in Nucor by 11.1% during the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock worth $342,642,000 after acquiring an additional 210,577 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Nucor during the 4th quarter worth approximately $1,989,000. Oak Harvest Investment Services purchased a new position in Nucor in the 4th quarter worth approximately $6,329,000. Finally, SG Americas Securities LLC boosted its holdings in Nucor by 123.5% in the 4th quarter. SG Americas Securities LLC now owns 85,474 shares of the basic materials company’s stock worth $13,942,000 after acquiring an additional 47,235 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Up 2.3%

NUE stock traded up $5.00 during midday trading on Friday, hitting $227.28. 786,569 shares of the company’s stock were exchanged, compared to its average volume of 1,767,844. The firm has a 50 day moving average price of $238.59 and a 200-day moving average price of $199.17. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $270.90. The stock has a market capitalization of $51.76 billion, a price-to-earnings ratio of 22.50, a price-to-earnings-growth ratio of 0.52 and a beta of 1.91. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the prior year, the business posted $0.77 EPS. The business’s revenue was up 21.3% on a year-over-year basis. On average, analysts anticipate that Nucor Corporation will post 17.68 EPS for the current year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio is 22.18%.

Insider Activity at Nucor

In other news, EVP David A. Sumoski sold 33,068 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $225.67, for a total value of $7,462,455.56. Following the sale, the executive vice president owned 243,339 shares in the company, valued at approximately $54,914,312.13. This represents a 11.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel R. Needham sold 12,888 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the transaction, the executive vice president directly owned 89,724 shares in the company, valued at $20,277,624. The trade was a 12.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,378 shares of company stock worth $18,963,930 over the last 90 days. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on NUE shares. Wells Fargo & Company dropped their price objective on shares of Nucor from $292.00 to $283.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Morgan Stanley upped their target price on shares of Nucor from $227.00 to $258.00 and gave the company an “equal weight” rating in a research note on Monday, June 22nd. Bank of America lowered their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a report on Thursday. BNP Paribas Exane lifted their price target on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, BMO Capital Markets boosted their price objective on shares of Nucor from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $266.15.

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.