M&T Bank Corp Has $70.87 Million Stock Position in Nucor Corporation $NUE

M&T Bank Corp increased its stake in Nucor Corporation (NYSE:NUE) by 494.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 434,511 shares of the basic materials company’s stock after purchasing an additional 361,417 shares during the period. M&T Bank Corp owned approximately 0.19% of Nucor worth $70,873,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Nucor by 2.0% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 117,499 shares of the basic materials company’s stock worth $19,189,000 after purchasing an additional 2,315 shares during the period. Evergreen Capital Management LLC increased its position in shares of Nucor by 14.8% in the fourth quarter. Evergreen Capital Management LLC now owns 10,341 shares of the basic materials company’s stock worth $1,693,000 after purchasing an additional 1,330 shares during the period. PFG Advisors increased its position in shares of Nucor by 17.5% in the fourth quarter. PFG Advisors now owns 2,005 shares of the basic materials company’s stock worth $327,000 after purchasing an additional 298 shares during the period. Richards Merrill & Peterson Inc. increased its position in shares of Nucor by 38.4% in the fourth quarter. Richards Merrill & Peterson Inc. now owns 6,076 shares of the basic materials company’s stock worth $991,000 after purchasing an additional 1,686 shares during the period. Finally, Portus Wealth Advisors LLC increased its position in shares of Nucor by 7.4% in the fourth quarter. Portus Wealth Advisors LLC now owns 7,111 shares of the basic materials company’s stock worth $1,160,000 after purchasing an additional 490 shares during the period. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price target on Nucor from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. BMO Capital Markets raised their price target on Nucor from $190.00 to $196.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Nucor in a research report on Monday, December 29th. JPMorgan Chase & Co. lifted their target price on Nucor from $198.00 to $212.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Finally, Wells Fargo & Company lifted their target price on Nucor from $197.00 to $213.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.10.

Nucor Stock Performance

Nucor stock opened at $208.08 on Wednesday. Nucor Corporation has a 12-month low of $106.21 and a 12-month high of $210.17. The company has a quick ratio of 1.57, a current ratio of 2.94 and a debt-to-equity ratio of 0.31. The business’s 50-day moving average price is $176.26 and its two-hundred day moving average price is $165.18. The stock has a market cap of $47.37 billion, a PE ratio of 27.60, a P/E/G ratio of 0.71 and a beta of 1.73.

Nucor (NYSE:NUE) last released its earnings results on Monday, January 26th. The basic materials company reported $1.73 earnings per share (EPS) 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 business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the prior year, the firm earned $1.22 EPS. The business’s revenue was up 8.6% on a year-over-year basis. As a group, analysts expect that Nucor Corporation will post 12.18 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Nucor’s payout ratio is 29.71%.

Nucor announced that its board has authorized a stock buyback program on Friday, February 20th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 3,881 shares of the business’s stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $178.00, for a total transaction of $690,818.00. Following the sale, the executive vice president directly owned 88,298 shares in the company, valued at approximately $15,717,044. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. Over the last three months, insiders have sold 26,401 shares of company stock worth $4,936,152. Insiders own 0.62% of the company’s stock.

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.