Korea Investment CORP Decreases Stock Position in Nucor Corporation $NUE

Korea Investment CORP trimmed its holdings in shares of Nucor Corporation (NYSE:NUE) by 41.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 155,950 shares of the basic materials company’s stock after selling 110,057 shares during the period. Korea Investment CORP owned approximately 0.07% of Nucor worth $21,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Integrated Wealth Concepts LLC raised its stake in shares of Nucor by 21.1% in the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after purchasing an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Nucor during the first quarter valued at $259,000. Geneos Wealth Management Inc. boosted its position 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 valued at $41,000 after buying an additional 153 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Nucor in the 2nd quarter worth about $390,000. Finally, Savant Capital LLC increased its holdings in Nucor by 35.0% in the 2nd quarter. Savant Capital LLC now owns 15,925 shares of the basic materials company’s stock worth $2,063,000 after buying an additional 4,126 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 0.7%

Shares of NYSE:NUE opened at $170.70 on Wednesday. The stock’s 50-day simple moving average is $177.09 and its two-hundred day simple moving average is $158.21. The stock has a market capitalization of $38.88 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 0.61 and a beta of 1.83. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $196.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The business had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.93 billion. During the same period in the previous year, the company earned $1.22 EPS. Nucor’s revenue for the quarter was up 8.6% compared to the same quarter last year. Analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The firm also recently announced 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. This represents a $2.24 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s dividend payout ratio is currently 29.71%.

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on NUE. Jefferies Financial Group upped their target price on shares of Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Seaport Research Partners lifted their price target on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Morgan Stanley reissued an “equal weight” rating and set a $180.00 price objective (up from $165.00) on shares of Nucor in a report on Friday, January 9th. BNP Paribas Exane increased their price objective on shares of Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Eight analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $187.90.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 2,000 shares of the 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 directly owned 17,952 shares in the company, valued at approximately $2,967,106.56. This trade represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the sale, the executive vice president directly owned 76,628 shares of the company’s stock, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,351 shares of company stock valued at $6,206,158 in the last ninety days. Corporate insiders own 0.71% of the company’s stock.

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.