Pacer Advisors Inc. Lowers Position in Nucor Corporation $NUE

Pacer Advisors Inc. decreased its position in shares of Nucor Corporation (NYSE:NUE) by 24.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 22,621 shares of the basic materials company’s stock after selling 7,447 shares during the period. Pacer Advisors Inc.’s holdings in Nucor were worth $3,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Nucor in the 4th quarter valued at $609,002,000. AQR Capital Management LLC grew its position in Nucor by 580.9% during the second quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after buying an additional 557,819 shares during the period. Capital World Investors increased its holdings in Nucor by 20.1% in the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock valued at $412,081,000 after buying an additional 509,019 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Nucor by 169.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock valued at $127,216,000 after buying an additional 489,950 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Nucor by 27.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock worth $290,405,000 after acquiring an additional 383,952 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the sale, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. The trade was a 9.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Bradley Ford sold 2,240 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total value of $519,971.20. Following the transaction, the executive vice president directly owned 43,649 shares of the company’s stock, valued at $10,132,242.37. The trade was a 4.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 82,378 shares of company stock worth $18,963,930 in the last quarter. Corporate insiders own 0.62% of the company’s stock.

Nucor Stock Performance

NYSE:NUE opened at $239.40 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The stock has a market capitalization of $54.52 billion, a PE ratio of 23.70, a P/E/G ratio of 0.63 and a beta of 1.88. Nucor Corporation has a fifty-two week low of $126.50 and a fifty-two week high of $270.90. The company has a fifty day moving average of $232.68 and a two-hundred day moving average of $193.31.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.41. The business had revenue of $9.50 billion for 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 for the quarter was up 21.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 earnings per share. As a group, research analysts forecast that Nucor Corporation will post 15.68 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Nucor’s payout ratio is presently 22.18%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NUE shares. Bank of America increased their target price on shares of Nucor from $265.00 to $290.00 in a research note on Friday, June 12th. Zacks Research upgraded Nucor from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. BMO Capital Markets upped their price target on Nucor from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Seaport Research Partners increased their price target on Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Finally, BNP Paribas Exane raised their price objective on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and an average price target of $266.92.

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.