Cim Investment Management Inc. Has $845,000 Stake in Nucor Corporation $NUE

Cim Investment Management Inc. reduced its stake in shares of Nucor Corporation (NYSE:NUE) by 50.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,238 shares of the basic materials company’s stock after selling 6,387 shares during the quarter. Cim Investment Management Inc.’s holdings in Nucor were worth $845,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. AXS Investments LLC acquired a new position in Nucor during the third quarter valued at approximately $37,000. Vision Financial Markets LLC raised its holdings in Nucor by 281.7% in the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 200 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of Nucor during the second quarter worth $39,000. Caitlin John LLC bought a new position in shares of Nucor during the third quarter worth $41,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after buying an additional 153 shares during the period. 76.48% of the stock is owned by institutional investors.

Nucor Trading Down 0.4%

Shares of Nucor stock opened at $162.16 on Wednesday. The stock has a market cap of $36.94 billion, a P/E ratio of 21.51, a P/E/G ratio of 0.58 and a beta of 1.83. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. Nucor Corporation has a 12-month low of $97.59 and a 12-month high of $196.90. The business’s 50 day moving average is $176.94 and its 200-day moving average is $158.76.

Nucor (NYSE:NUE) last released 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). 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 prior year, the business posted $1.22 earnings per share. Nucor’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts predict that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.56 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 annualized dividend and a dividend yield of 1.4%. Nucor’s payout ratio is currently 29.71%.

Nucor declared that its board has authorized a share repurchase program on Friday, February 20th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of research firms recently commented on NUE. Morgan Stanley restated an “equal weight” rating and issued a $180.00 price objective (up from $165.00) on shares of Nucor in a research report on Friday, January 9th. JPMorgan Chase & Co. lifted their target price on Nucor from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Jefferies Financial Group increased their price target on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, January 12th. BNP Paribas Exane raised their price target on Nucor from $165.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, January 2nd. Finally, BMO Capital Markets lifted their price objective on Nucor from $190.00 to $196.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $188.00.

Insider Activity

In other Nucor news, EVP Daniel R. Needham sold 3,881 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $178.00, for a total transaction of $690,818.00. Following the transaction, the executive vice president owned 88,298 shares of the company’s stock, valued at $15,717,044. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen C. Behr sold 7,568 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president owned 67,711 shares in the company, valued at $12,763,523.50. This represents a 10.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 34,351 shares of company stock valued at $6,206,158 in the last 90 days. 0.71% of the stock is owned by company insiders.

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.