KLCM Advisors Inc. Has $1.34 Million Position in Nucor Corporation $NUE

KLCM Advisors Inc. cut its stake in shares of Nucor Corporation (NYSE:NUE) by 23.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,881 shares of the basic materials company’s stock after selling 3,000 shares during the quarter. KLCM Advisors Inc.’s holdings in Nucor were worth $1,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mackenzie Financial Corp lifted its stake in Nucor by 2.0% in the 3rd quarter. Mackenzie Financial Corp now owns 24,575 shares of the basic materials company’s stock valued at $3,328,000 after purchasing an additional 493 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Nucor by 7.6% during the third quarter. Van ECK Associates Corp now owns 42,043 shares of the basic materials company’s stock worth $5,694,000 after buying an additional 2,984 shares during the last quarter. FourThought Financial Partners LLC bought a new stake in shares of Nucor during the third quarter worth $421,000. Capital World Investors increased its holdings in shares of Nucor by 20.1% during the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after buying an additional 509,019 shares in the last quarter. Finally, Capital International Sarl increased its holdings in shares of Nucor by 7.0% during the third quarter. Capital International Sarl now owns 5,188 shares of the basic materials company’s stock worth $703,000 after buying an additional 341 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on NUE. Seaport Research Partners raised their price objective on Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a report on Friday, January 30th. UBS Group cut Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price for the company. in a report on Wednesday, January 28th. Morgan Stanley reiterated an “equal weight” rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. JPMorgan Chase & Co. lifted their price target on Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research note on Monday, December 29th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.90.

Nucor Trading Up 0.8%

NYSE NUE opened at $171.73 on Thursday. The firm has a market capitalization of $39.11 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 0.61 and a beta of 1.83. The business’s 50-day moving average price is $177.26 and its two-hundred day moving average price is $158.30. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $196.90.

Nucor (NYSE:NUE) last issued 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). The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a return on equity of 8.26% and a net margin of 5.37%.Nucor’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.22 earnings per share. On average, analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 annualized dividend and a yield of 1.3%. Nucor’s dividend payout ratio (DPR) is presently 29.71%.

Nucor declared that its board has authorized a stock buyback program on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, EVP Thomas J. Batterbee sold 2,000 shares of the company’s stock in a transaction 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 sale, the executive vice president directly owned 17,952 shares of the company’s stock, valued at approximately $2,967,106.56. This represents a 10.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total transaction of $1,426,568.00. Following the sale, the executive vice president owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 34,351 shares of company stock worth $6,206,158 over the last quarter. Company insiders own 0.46% 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.