Allspring Global Investments Holdings LLC Has $90.13 Million Stock Holdings in Nucor Corporation $NUE

Allspring Global Investments Holdings LLC raised its holdings in Nucor Corporation (NYSE:NUE) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 532,079 shares of the basic materials company’s stock after acquiring an additional 13,212 shares during the period. Allspring Global Investments Holdings LLC owned about 0.23% of Nucor worth $90,134,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of NUE. Fox Run Management L.L.C. acquired a new position in shares of Nucor during the 3rd quarter worth approximately $1,528,000. Penserra Capital Management LLC lifted its stake in Nucor by 15,814.3% in the third quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock valued at $452,000 after acquiring an additional 3,321 shares during the last quarter. Allstate Corp bought a new position in shares of Nucor in the 3rd quarter valued at about $1,085,000. Peterson Wealth Services raised its holdings in shares of Nucor by 587,032.0% in the 3rd quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock valued at $19,879,000 after purchasing an additional 146,758 shares during the period. Finally, Covea Finance increased its holdings in shares of Nucor by 75.4% during the 3rd quarter. Covea Finance now owns 94,200 shares of the basic materials company’s stock worth $12,758,000 after acquiring an additional 40,500 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NUE shares. KeyCorp started coverage on shares of Nucor in a research report on Wednesday, March 25th. They issued a “sector weight” rating on the stock. BNP Paribas Exane lifted their price target on shares of Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research report on Friday, January 2nd. Jefferies Financial Group raised their price objective on Nucor from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Seaport Research Partners boosted their target price on shares of Nucor from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, BMO Capital Markets upped their target price on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 3rd. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $188.90.

Nucor Stock Performance

NYSE:NUE opened at $169.07 on Wednesday. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $196.90. The stock has a market cap of $38.51 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 0.59 and a beta of 1.83. The stock’s 50-day moving average is $175.57 and its 200-day moving average is $160.09.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.73 earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $7.93 billion. During the same quarter in the previous year, the company earned $1.22 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts anticipate that Nucor Corporation will post 7.64 earnings per share for the current year.

Nucor Dividend Announcement

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

Nucor declared that its board has authorized a share 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 reacquire up to 9.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, EVP Daniel R. Needham sold 3,881 shares of the business’s stock in a transaction on Friday, January 30th. The shares were 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 in the company, valued at $15,717,044. The trade was a 4.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the firm’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 sale, the executive vice president owned 67,711 shares of the company’s stock, valued at approximately $12,763,523.50. This represents a 10.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 26,401 shares of company stock worth $4,936,152 in the last quarter. 0.71% of the stock is owned by corporate 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.