Holocene Advisors LP Acquires 326,572 Shares of Nucor Corporation $NUE

Holocene Advisors LP increased its stake in Nucor Corporation (NYSE:NUE) by 146.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 548,911 shares of the basic materials company’s stock after acquiring an additional 326,572 shares during the period. Holocene Advisors LP’s holdings in Nucor were worth $74,339,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NUE. AXS Investments LLC purchased a new stake in Nucor during the third quarter valued at approximately $37,000. Vision Financial Markets LLC boosted its holdings in shares of Nucor by 281.7% in the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 200 shares during the period. Caitlin John LLC bought a new position in shares of Nucor during the 3rd quarter valued at approximately $41,000. Elevation Point Wealth Partners LLC bought a new position in shares of Nucor during the 2nd quarter valued at approximately $39,000. Finally, Salomon & Ludwin LLC raised its holdings in 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 during the period. 76.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NUE shares. The Goldman Sachs Group raised their price target on Nucor from $182.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. BNP Paribas Exane boosted 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. Jefferies Financial Group increased 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. Wells Fargo & Company raised their target price on shares of Nucor from $184.00 to $194.00 and gave the stock an “overweight” rating in a report on Monday, March 2nd. Finally, BMO Capital Markets lifted their price target on shares of Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $188.00.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the company’s stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $178.00, for a total value of $690,818.00. Following the transaction, the executive vice president directly owned 88,298 shares in the company, valued at $15,717,044. This represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Allen C. Behr sold 7,568 shares of the firm’s stock in a transaction that occurred 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 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 34,351 shares of company stock worth $6,206,158. 0.71% of the stock is currently owned by corporate insiders.

Nucor Price Performance

NUE opened at $162.78 on Tuesday. The business has a fifty day moving average of $177.09 and a 200 day moving average of $158.67. The stock has a market cap of $37.08 billion, a P/E ratio of 21.59, a PEG ratio of 0.58 and a beta of 1.83. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. Nucor Corporation has a 52-week low of $97.59 and a 52-week high of $196.90.

Nucor (NYSE:NUE) last released its 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 return on equity of 8.26% and a net margin of 5.37%.The business had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. During the same quarter in the previous year, the business earned $1.22 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Announces Dividend

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 paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

Nucor declared that its Board of Directors has initiated a stock repurchase program on Friday, February 20th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are 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.