Cambria Investment Management L.P. Sells 50,023 Shares of Nucor Corporation $NUE

Cambria Investment Management L.P. trimmed its stake in Nucor Corporation (NYSE:NUE) by 87.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,225 shares of the basic materials company’s stock after selling 50,023 shares during the period. Cambria Investment Management L.P.’s holdings in Nucor were worth $978,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NUE. Strategic Advocates LLC acquired a new position in shares of Nucor during the third quarter valued at about $87,000. CIBC Private Wealth Group LLC grew its position in Nucor by 10.1% during the third quarter. CIBC Private Wealth Group LLC now owns 17,405 shares of the basic materials company’s stock worth $2,357,000 after buying an additional 1,599 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in Nucor during the third quarter worth about $18,982,000. Portus Wealth Advisors LLC bought a new position in Nucor during the third quarter valued at about $897,000. Finally, Centaurus Financial Inc. increased its stake in Nucor by 16.9% during the third quarter. Centaurus Financial Inc. now owns 6,997 shares of the basic materials company’s stock valued at $948,000 after acquiring an additional 1,014 shares during the period. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.4%

Shares of NUE opened at $161.77 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $176.74 and a two-hundred day moving average price of $158.80. The stock has a market cap of $36.85 billion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 0.58 and a beta of 1.83. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $196.90.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share 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 company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the company posted $1.22 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts predict that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, March 31st. Nucor’s dividend payout ratio is 29.71%.

Nucor declared that its board has approved a share buyback plan 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 purchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have commented on NUE. JPMorgan Chase & Co. raised their price objective on Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Wall Street Zen cut Nucor from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Wells Fargo & Company upped their target price on Nucor from $184.00 to $194.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. Finally, Jefferies Financial Group lifted their price target on shares of Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and an average price target of $188.00.

Insider Buying and Selling

In other Nucor news, EVP Thomas J. Batterbee sold 2,000 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total transaction of $330,560.00. Following the completion of the transaction, the executive vice president directly owned 17,952 shares in the company, valued at $2,967,106.56. This represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Daniel R. Needham sold 3,881 shares of Nucor stock in a transaction on 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 of the company’s stock, valued at approximately $15,717,044. The trade was a 4.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 28,401 shares of company stock valued at $5,266,712. 0.46% of the stock is currently owned by insiders.

Nucor 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.