Farther Finance Advisors LLC Has $888,000 Stock Holdings in Nucor Corporation $NUE

Farther Finance Advisors LLC boosted its holdings in shares of Nucor Corporation (NYSE:NUE) by 81.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,445 shares of the basic materials company’s stock after purchasing an additional 2,443 shares during the period. Farther Finance Advisors LLC’s holdings in Nucor were worth $888,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Capital World Investors raised its holdings in shares of Nucor by 20.1% in the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after buying an additional 509,019 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Nucor by 11.1% during the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock worth $342,642,000 after buying an additional 210,577 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in Nucor by 2.4% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,685,250 shares of the basic materials company’s stock valued at $228,233,000 after buying an additional 38,990 shares in the last quarter. Legal & General Group Plc grew its position in Nucor by 11.2% in the third quarter. Legal & General Group Plc now owns 1,630,986 shares of the basic materials company’s stock valued at $220,884,000 after acquiring an additional 164,021 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Nucor by 0.7% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,600,045 shares of the basic materials company’s stock valued at $216,695,000 after acquiring an additional 11,618 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NUE. The Goldman Sachs Group initiated coverage on Nucor in a report on Wednesday, April 1st. They set a “buy” rating and a $210.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Nucor from $197.00 to $213.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. BMO Capital Markets increased their target price on shares of Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Seaport Research Partners lifted their price target on shares of Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Nucor from $198.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $198.10.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total value of $1,426,568.00. Following the completion of the transaction, the executive vice president directly owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. The trade was a 10.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 stock was sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the transaction, the executive vice president owned 76,628 shares in the company, valued at $15,020,620.56. The trade was a 8.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 26,401 shares of company stock worth $4,936,152. 0.62% of the stock is currently owned by corporate insiders.

Nucor Trading Up 3.0%

Shares of NUE opened at $214.28 on Thursday. 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 $48.78 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 0.73 and a beta of 1.73. The stock has a fifty day moving average price of $176.66 and a two-hundred day moving average price of $165.53. Nucor Corporation has a 52-week low of $106.21 and a 52-week high of $216.26.

Nucor (NYSE:NUE) last announced its 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 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 the consensus estimate of $7.93 billion. During the same quarter in the previous year, the company posted $1.22 EPS. Nucor’s revenue for the quarter was up 8.6% on a year-over-year basis. Analysts predict that Nucor Corporation will post 12.18 EPS for the current fiscal year.

Nucor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Nucor’s dividend payout ratio is currently 29.71%.

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

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.