2,465 Shares in Nucor Corporation $NUE Purchased by Gambit Capital Management LLC

Gambit Capital Management LLC acquired a new position in shares of Nucor Corporation (NYSE:NUE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,465 shares of the basic materials company’s stock, valued at approximately $402,000.

Other large investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. bought a new position in shares of Nucor during the 3rd quarter valued at $1,528,000. Penserra Capital Management LLC increased its position in Nucor by 15,814.3% during the third quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock valued at $452,000 after acquiring an additional 3,321 shares during the last quarter. Allstate Corp bought a new position in Nucor in the third quarter valued at about $1,085,000. Peterson Wealth Services lifted its holdings in Nucor by 587,032.0% in the third quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock valued at $19,879,000 after acquiring an additional 146,758 shares during the period. Finally, Nordea Investment Management AB boosted its position in Nucor by 11.1% in the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock worth $342,642,000 after purchasing an additional 210,577 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Trading Down 0.3%

Nucor stock opened at $226.23 on Tuesday. Nucor Corporation has a 12-month low of $106.21 and a 12-month high of $235.45. The firm has a market capitalization of $51.52 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 0.61 and a beta of 1.87. The firm has a 50 day moving average of $191.56 and a 200 day moving average of $175.65. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.77 earnings per share. As a group, research analysts predict that Nucor Corporation will post 14.66 earnings per share for the current year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Nucor’s dividend payout ratio (DPR) is currently 22.18%.

Nucor declared that its board has authorized a stock buyback plan on Friday, February 20th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

NUE has been the subject of several research reports. JPMorgan Chase & Co. upped their price target on shares of Nucor from $212.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Citigroup boosted their target price on shares of Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Seaport Research Partners reaffirmed a “buy” rating and set a $245.00 target price on shares of Nucor in a report on Thursday, April 30th. Bank of America increased their price target on shares of Nucor from $190.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, The Goldman Sachs Group boosted their price objective on shares of Nucor from $240.00 to $260.00 in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and an average target price of $245.45.

Insider Buying and Selling at Nucor

In related news, EVP Allen C. Behr sold 10,096 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $226.08, for a total value of $2,282,503.68. Following the transaction, the executive vice president directly owned 62,871 shares of the company’s stock, valued at approximately $14,213,875.68. The trade was a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael D. Keller sold 4,554 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $225.86, for a total transaction of $1,028,566.44. Following the sale, the insider directly owned 16,834 shares of the company’s stock, valued at approximately $3,802,127.24. This trade represents a 21.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 69,318 shares of company stock valued at $15,672,093. 0.62% of the stock is currently owned by corporate insiders.

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.