Volterra Technologies LP Takes Position in Nucor Corporation $NUE

Volterra Technologies LP bought a new position in Nucor Corporation (NYSE:NUE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,306 shares of the basic materials company’s stock, valued at approximately $583,000.

Other hedge funds have also recently made changes to their positions in the company. AXS Investments LLC purchased a new stake in Nucor in the third quarter worth about $37,000. Vision Financial Markets LLC raised its holdings in shares of Nucor by 281.7% during the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Caitlin John LLC purchased a new stake in Nucor during the third quarter valued at $41,000. Elevation Point Wealth Partners LLC bought a new position in Nucor in the second quarter worth approximately $39,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Nucor by 45.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 320 shares of the basic materials company’s stock valued at $44,000 after buying an additional 100 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NUE. Jefferies Financial Group increased their price objective on shares of Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, January 12th. Morgan Stanley reiterated an “equal weight” rating and issued a $180.00 price target (up from $165.00) on shares of Nucor in a report on Friday, January 9th. Wall Street Zen lowered shares of Nucor from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. BNP Paribas Exane raised their target price 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, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.90.

Insider Buying and Selling

In other Nucor news, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were 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 of the company’s stock, valued at approximately $12,763,523.50. The trade was a 10.05% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Daniel R. Needham sold 3,881 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $178.00, for a total transaction of $690,818.00. Following the transaction, the executive vice president directly owned 88,298 shares in the company, valued at approximately $15,717,044. This trade represents a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 34,351 shares of company stock valued at $6,206,158 in the last ninety days. Company insiders own 0.46% of the company’s stock.

Nucor Stock Down 1.3%

NYSE NUE opened at $163.52 on Friday. The business’s fifty day simple moving average is $177.20 and its 200-day simple moving average is $158.45. 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 has a market cap of $37.25 billion, a PE ratio of 21.69, a P/E/G ratio of 0.59 and a beta of 1.83. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $196.90.

Nucor (NYSE:NUE) last released its quarterly earnings results 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 company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same period last year, the firm posted $1.22 earnings per share. Nucor’s revenue was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a dividend yield of 1.4%. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

Nucor declared that its Board of Directors has initiated a share buyback plan on Friday, February 20th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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.