Barclays PLC Has $103.57 Million Holdings in Nucor Corporation $NUE

Barclays PLC lessened its position in Nucor Corporation (NYSE:NUE) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 764,764 shares of the basic materials company’s stock after selling 8,733 shares during the quarter. Barclays PLC owned approximately 0.33% of Nucor worth $103,572,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NUE. Berkshire Hathaway Inc purchased a new position in shares of Nucor during the second quarter valued at $856,792,000. Norges Bank purchased a new stake in Nucor in the 2nd quarter worth about $479,858,000. Greenwich Wealth Management LLC acquired a new stake in Nucor during the 2nd quarter worth about $123,145,000. Massachusetts Financial Services Co. MA acquired a new stake in Nucor during the 2nd quarter worth about $105,435,000. Finally, AQR Capital Management LLC grew its stake in Nucor by 580.9% during the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after acquiring an additional 557,819 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In related news, EVP Kenneth Rex Query sold 7,452 shares of Nucor stock in a transaction on 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 sale, the executive vice president owned 76,628 shares of the company’s stock, valued at approximately $15,020,620.56. The trade was a 8.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allen C. Behr sold 7,568 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president owned 67,711 shares of the company’s stock, valued at $12,763,523.50. This represents a 10.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 34,351 shares of company stock valued at $6,206,158. 0.46% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NUE. JPMorgan Chase & Co. upped their target price on Nucor from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $180.00 price objective (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Wall Street Zen lowered shares of Nucor from a “buy” rating to a “hold” rating in a research note on Saturday. Seaport Research Partners increased their target price on shares of Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and set a $183.00 target price for the company. in a research note on Wednesday, January 28th. Eight research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and an average price target of $187.90.

Nucor Stock Down 2.0%

NUE opened at $168.58 on Friday. The company has a market capitalization of $38.40 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 0.61 and a beta of 1.83. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.94 and a quick ratio of 1.57. Nucor Corporation has a fifty-two week low of $97.59 and a fifty-two week high of $196.90. The business has a 50-day moving average of $176.90 and a 200-day moving average of $157.76.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the firm posted $1.22 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor announced that its Board of Directors has authorized a share repurchase program on Friday, February 20th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 31st. Nucor’s payout ratio is currently 29.71%.

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.