NEOS Investment Management LLC Boosts Stake in Nucor Corporation $NUE

NEOS Investment Management LLC lifted its stake in Nucor Corporation (NYSE:NUE) by 64.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,694 shares of the basic materials company’s stock after buying an additional 11,221 shares during the quarter. NEOS Investment Management LLC’s holdings in Nucor were worth $3,886,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Heartland Advisors Inc. bought a new position in Nucor during the third quarter valued at approximately $4,778,000. Wealthcare Advisory Partners LLC lifted its holdings in shares of Nucor by 141.8% in the 3rd quarter. Wealthcare Advisory Partners LLC now owns 4,450 shares of the basic materials company’s stock valued at $603,000 after acquiring an additional 2,610 shares during the last quarter. Rothschild Investment LLC increased its stake in Nucor by 1.2% during the third quarter. Rothschild Investment LLC now owns 42,223 shares of the basic materials company’s stock worth $5,718,000 after acquiring an additional 505 shares during the last quarter. Founders Financial Alliance LLC raised its position in Nucor by 30.3% during the third quarter. Founders Financial Alliance LLC now owns 2,110 shares of the basic materials company’s stock valued at $286,000 after purchasing an additional 491 shares during the period. Finally, Putney Financial Group LLC raised its stake in shares of Nucor by 38.3% in the third quarter. Putney Financial Group LLC now owns 2,733 shares of the basic materials company’s stock valued at $370,000 after acquiring an additional 757 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nucor

In related news, EVP Daniel R. Needham sold 3,881 shares of Nucor stock in a transaction on Friday, January 30th. The shares were sold at an average price of $178.00, for a total transaction of $690,818.00. Following the sale, the executive vice president directly owned 88,298 shares in the company, valued at $15,717,044. This trade represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of Nucor stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total value of $1,426,568.00. Following the transaction, the executive vice president directly owned 67,711 shares in the company, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 34,351 shares of company stock worth $6,206,158. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley restated an “equal weight” rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a research note on Friday, January 9th. Citigroup upped their target price on Nucor from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Jefferies Financial Group upped their price target on shares of Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, January 12th. JPMorgan Chase & Co. boosted their target price on shares of Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Finally, Wells Fargo & Company raised their price objective on Nucor from $176.00 to $184.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $179.36.

Nucor Trading Down 2.4%

Shares of NUE opened at $180.14 on Friday. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $196.90. The stock has a market cap of $41.23 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 0.66 and a beta of 1.86. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The firm’s fifty day moving average is $173.95 and its two-hundred day moving average is $155.01.

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

Nucor Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 11th. Stockholders of record on Wednesday, December 31st were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, December 31st. This is an increase from Nucor’s previous quarterly dividend of $0.55. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

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.