Securian Asset Management Inc. Has $1.02 Million Position in Nucor Corporation $NUE

Securian Asset Management Inc. cut its position in Nucor Corporation (NYSE:NUE) by 43.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,223 shares of the basic materials company’s stock after selling 4,806 shares during the period. Securian Asset Management Inc.’s holdings in Nucor were worth $1,015,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in Nucor by 580.9% during the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock worth $84,699,000 after buying an additional 557,819 shares during the period. Capital World Investors grew its stake in Nucor by 20.1% in the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock valued at $412,081,000 after acquiring an additional 509,019 shares during the period. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Nucor by 169.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock worth $127,216,000 after acquiring an additional 489,950 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Nucor by 494.5% in the fourth quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company’s stock worth $70,873,000 after acquiring an additional 361,417 shares in the last quarter. Finally, Holocene Advisors LP raised its position in shares of Nucor by 146.9% during the third quarter. Holocene Advisors LP now owns 548,911 shares of the basic materials company’s stock worth $74,339,000 after purchasing an additional 326,572 shares during the period. 76.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NUE. Wall Street Zen upgraded Nucor from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Wells Fargo & Company raised their target price on shares of Nucor from $213.00 to $244.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Bank of America lifted their price target on shares of Nucor from $190.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. upped their price target on shares of Nucor from $212.00 to $240.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, BMO Capital Markets increased their price objective on shares of Nucor from $196.00 to $235.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Nucor has an average rating of “Moderate Buy” and a consensus price target of $243.80.

Insider Transactions at Nucor

In other Nucor news, EVP Noah C. Hanners sold 6,472 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the sale, the executive vice president directly owned 50,377 shares of the company’s stock, valued at $11,410,390.50. The trade was a 11.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Daniel R. Needham sold 12,888 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the transaction, the executive vice president owned 89,724 shares of the company’s stock, valued at approximately $20,277,624. This represents a 12.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 69,318 shares of company stock worth $15,672,093. 0.62% of the stock is owned by insiders.

Nucor Stock Down 1.0%

NYSE:NUE opened at $229.77 on Wednesday. The stock has a 50-day simple moving average of $187.33 and a 200 day simple moving average of $173.22. Nucor Corporation has a 52-week low of $106.21 and a 52-week high of $235.44. The company has a market cap of $52.30 billion, a PE ratio of 22.75, a PEG ratio of 0.67 and a beta of 1.87. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.82 by $0.41. The firm had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.77 EPS. On average, sell-side analysts expect that Nucor Corporation will post 13.64 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Tuesday, March 31st were given a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. Nucor’s dividend payout ratio (DPR) is 22.18%.

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

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.