FNY Investment Advisers LLC Makes New Investment in Nucor Corporation $NUE

FNY Investment Advisers LLC acquired a new position in shares of Nucor Corporation (NYSE:NUE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,200 shares of the basic materials company’s stock, valued at approximately $1,989,000.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its holdings in Nucor by 3.1% during the second quarter. State Street Corp now owns 12,501,779 shares of the basic materials company’s stock worth $1,626,321,000 after buying an additional 371,911 shares in the last quarter. Berkshire Hathaway Inc purchased a new position in Nucor in the second quarter valued at $856,792,000. Capital World Investors raised its position in shares of Nucor by 20.1% in the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after acquiring an additional 509,019 shares during the period. Nordea Investment Management AB raised its position in shares of 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 acquiring an additional 210,577 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of Nucor by 2.4% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,685,250 shares of the basic materials company’s stock worth $228,233,000 after acquiring an additional 38,990 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Down 0.8%

NYSE NUE opened at $172.26 on Friday. The business has a fifty day moving average price of $175.29 and a 200 day moving average price of $160.27. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. The company has a market cap of $39.21 billion, a P/E ratio of 22.85, a P/E/G ratio of 0.62 and a beta of 1.73. Nucor Corporation has a one year low of $97.59 and a one year high of $196.90.

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 the consensus estimate of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the firm earned $1.22 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts anticipate that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

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

Nucor announced that its Board of Directors has initiated a stock buyback plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on NUE shares. Morgan Stanley restated an “equal weight” rating and set a $180.00 target price (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. The Goldman Sachs Group began coverage on Nucor in a research report on Wednesday. They set a “buy” rating and a $210.00 price target on the stock. KeyCorp began coverage on Nucor in a report on Wednesday, March 25th. They issued a “sector weight” rating on the stock. BNP Paribas Exane boosted their price objective on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Finally, Wells Fargo & Company upped their target price on Nucor from $194.00 to $197.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $190.30.

Insider Activity at Nucor

In other news, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 67,711 shares in the company, valued at $12,763,523.50. The trade was a 10.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the company’s stock in a transaction that occurred 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 $15,020,620.56. This trade represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 26,401 shares of company stock valued at $4,936,152. Corporate insiders own 0.46% of the company’s stock.

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.