Mn Services Vermogensbeheer B.V. Has $5.98 Million Stake in Nucor Corporation $NUE

Mn Services Vermogensbeheer B.V. reduced its stake in shares of Nucor Corporation (NYSE:NUE) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,681 shares of the basic materials company’s stock after selling 5,300 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Nucor were worth $5,983,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NUE. Stance Capital LLC acquired a new stake in shares of Nucor in the 3rd quarter valued at $25,000. AXS Investments LLC acquired a new stake in shares of Nucor during the 3rd quarter worth about $37,000. Vision Financial Markets LLC lifted its holdings in Nucor by 281.7% during the 3rd 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. Elevation Point Wealth Partners LLC bought a new position in Nucor during the 2nd quarter valued at about $39,000. Finally, Caitlin John LLC acquired a new position in Nucor in the third quarter valued at about $41,000. 76.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NUE. UBS Group raised shares of Nucor from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $184.00 to $190.00 in a research note on Thursday, March 26th. The Goldman Sachs Group assumed coverage on Nucor in a report on Wednesday. They issued a “buy” rating and a $210.00 target price on the stock. Seaport Research Partners increased their price target on Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. BNP Paribas Exane raised their price target on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Finally, KeyCorp initiated coverage on Nucor in a research report on Wednesday, March 25th. They issued a “sector weight” rating for the company. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus target price of $190.30.

Nucor Trading Down 0.8%

NUE opened at $172.26 on Friday. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $196.90. The stock has a market capitalization of $39.21 billion, a PE ratio of 22.85, a PEG ratio of 0.62 and a beta of 1.73. 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 has a 50-day moving average price of $175.29 and a two-hundred day moving average price of $160.27.

Nucor (NYSE:NUE) last announced its 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 return on equity of 8.26% and a net margin of 5.37%.The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. Nucor’s revenue for the quarter 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 fiscal year.

Nucor Announces Dividend

The company also recently disclosed 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 of this dividend is Tuesday, March 31st. This represents a $2.24 annualized dividend and a yield of 1.3%. Nucor’s dividend payout ratio is currently 29.71%.

Nucor declared that its Board of Directors has initiated a stock repurchase 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 buy up to 9.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Nucor

In other news, 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 owned 88,298 shares of the company’s stock, valued at $15,717,044. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kenneth Rex Query sold 7,452 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the transaction, the executive vice president owned 76,628 shares in the company, valued at approximately $15,020,620.56. This represents a 8.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 26,401 shares of company stock worth $4,936,152. Insiders own 0.46% of the company’s stock.

Nucor Company Profile

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.