Fisher Asset Management LLC Has $34.47 Million Stock Holdings in Nucor Corporation $NUE

Fisher Asset Management LLC increased its holdings in shares of Nucor Corporation (NYSE:NUE) by 8.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 254,510 shares of the basic materials company’s stock after acquiring an additional 20,043 shares during the period. Fisher Asset Management LLC’s holdings in Nucor were worth $34,468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Creekmur Asset Management LLC lifted its stake in Nucor by 13,366.2% during the third quarter. Creekmur Asset Management LLC now owns 8,753 shares of the basic materials company’s stock worth $1,185,000 after purchasing an additional 8,688 shares during the period. Sierra Summit Advisors LLC lifted its position in shares of Nucor by 1.6% during the 3rd quarter. Sierra Summit Advisors LLC now owns 8,719 shares of the basic materials company’s stock worth $1,181,000 after buying an additional 134 shares during the period. Caitlin John LLC acquired a new stake in Nucor in the 3rd quarter valued at $41,000. Banco Santander S.A. grew its position in Nucor by 9.1% in the third quarter. Banco Santander S.A. now owns 25,346 shares of the basic materials company’s stock valued at $3,433,000 after acquiring an additional 2,105 shares during the period. Finally, Xponance Inc. raised its stake in Nucor by 7.8% during the third quarter. Xponance Inc. now owns 56,271 shares of the basic materials company’s stock worth $7,621,000 after acquiring an additional 4,093 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NUE stock opened at $177.54 on Wednesday. Nucor Corporation has a 1 year low of $97.59 and a 1 year 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 firm’s 50 day moving average is $176.46 and its 200-day moving average is $157.28. The firm has a market capitalization of $40.44 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 0.65 and a beta of 1.83.

Nucor (NYSE:NUE) last issued its quarterly 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 net margin of 5.37% and a return on equity of 8.26%. The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period in the prior year, the business earned $1.22 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Sell-side analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor declared that its board has initiated a stock buyback program on Friday, February 20th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Nucor Announces Dividend

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

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 3,881 shares of Nucor stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas J. Batterbee sold 2,000 shares of the company’s 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 owned 17,952 shares in the company, valued at approximately $2,967,106.56. The trade was 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 34,351 shares of company stock worth $6,206,158 in the last ninety days. 0.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

NUE has been the topic of several recent analyst reports. BNP Paribas Exane boosted their target price on shares of Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Wall Street Zen upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Wells Fargo & Company raised their price objective on shares of Nucor from $184.00 to $194.00 and gave the stock an “overweight” rating in a report on Monday. Morgan Stanley reissued an “equal weight” rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a report on Friday, January 9th. Finally, JPMorgan Chase & Co. increased their price target on Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $180.27.

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.