Nucor Corporation $NUE Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its stake in shares of Nucor Corporation (NYSE:NUE) by 9.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 159,306 shares of the basic materials company’s stock after selling 17,130 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of Nucor worth $21,575,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. IMA Advisory Services Inc. raised its holdings in Nucor by 51.4% in the second quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 75 shares in the last quarter. AXS Investments LLC acquired a new position in Nucor during the 3rd quarter worth approximately $37,000. Vision Financial Markets LLC increased its position in shares of Nucor by 281.7% in the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in shares of Nucor in the 2nd quarter valued at approximately $39,000. Finally, Caitlin John LLC acquired a new stake in shares of Nucor in the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Performance

Shares of NUE stock opened at $169.18 on Tuesday. The stock’s 50-day moving average is $176.97 and its two-hundred day moving average is $158.04. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.57 and a current ratio of 2.94. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $196.90. The firm has a market cap of $38.53 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 0.61 and a beta of 1.83.

Nucor (NYSE:NUE) last posted its earnings results 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). The firm had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. Analysts predict that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Shareholders of record on Tuesday, March 31st will be paid a $0.56 dividend. 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 currently 29.71%.

Nucor declared 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 outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 9.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group cut Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target on the stock. in a research note on Wednesday, January 28th. 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. BNP Paribas Exane increased their price objective on Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, January 2nd. Finally, Seaport Research Partners raised their target price on Nucor from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.90.

Insider Transactions at Nucor

In other news, EVP Thomas J. Batterbee sold 2,000 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $165.28, for a total value of $330,560.00. Following the completion of the sale, the executive vice president directly owned 17,952 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the firm’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 approximately $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. Insiders sold a total of 34,351 shares of company stock valued at $6,206,158 over the last ninety days. 0.71% of the stock is owned by insiders.

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.