Strid Group LLC Reduces Stock Holdings in Nucor Corporation $NUE

Strid Group LLC cut its position in Nucor Corporation (NYSE:NUE) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,777 shares of the basic materials company’s stock after selling 10,432 shares during the quarter. Nucor comprises approximately 1.7% of Strid Group LLC’s holdings, making the stock its 10th biggest position. Strid Group LLC’s holdings in Nucor were worth $13,828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in Nucor by 580.9% in the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after purchasing an additional 557,819 shares during the last quarter. Capital World Investors grew its stake in shares of 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 in the last quarter. Vaughan Nelson Investment Management L.P. increased its position in Nucor by 169.0% during 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 during the period. Holocene Advisors LP raised its stake in Nucor by 146.9% in the 3rd 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 in the last quarter. Finally, Rakuten Investment Management Inc. bought a new stake in Nucor in the 3rd quarter valued at about $32,915,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. Seaport Research Partners boosted their price objective 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. KeyCorp initiated coverage on Nucor in a research note on Wednesday, March 25th. They set a “sector weight” rating for the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $180.00 target price (up from $165.00) on shares of Nucor in a report on Friday, January 9th. Finally, JPMorgan Chase & Co. boosted their price target on Nucor from $198.00 to $212.00 and gave the stock an “overweight” rating in a report on Tuesday. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $195.60.

Insider Buying and Selling

In other Nucor news, EVP Kenneth Rex Query sold 7,452 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $196.02, for a total value of $1,460,741.04. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allen C. Behr sold 7,568 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $188.50, for a total value of $1,426,568.00. Following the sale, the executive vice president owned 67,711 shares in the company, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,401 shares of company stock worth $4,936,152 in the last 90 days. Insiders own 0.62% of the company’s stock.

Nucor Trading Down 0.2%

Shares of Nucor stock opened at $189.63 on Thursday. The firm’s 50 day moving average is $175.59 and its 200 day moving average is $163.23. The firm has a market capitalization of $43.17 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 0.69 and a beta of 1.73. Nucor Corporation has a 1 year low of $105.92 and a 1 year high of $196.90. 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 (NYSE:NUE) last issued its quarterly earnings data 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). The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. Nucor had a net margin of 5.37% and a return on equity of 8.26%. Nucor’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.22 EPS. Equities research analysts forecast that Nucor Corporation will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be given a dividend of $0.56 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.24 dividend on an annualized basis and a yield of 1.2%. Nucor’s payout ratio is currently 29.71%.

Nucor announced that its Board of Directors has authorized a stock repurchase program on Friday, February 20th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 9.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is 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.