Y Intercept Hong Kong Ltd Cuts Holdings in Nucor Corporation $NUE

Y Intercept Hong Kong Ltd decreased its position in Nucor Corporation (NYSE:NUE) by 94.9% during the first quarter, HoldingsChannel.com reports. The fund owned 1,590 shares of the basic materials company’s stock after selling 29,667 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Nucor were worth $269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NUE. Vanguard Group Inc. raised its position in Nucor by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock valued at $4,633,554,000 after purchasing an additional 144,038 shares during the period. Morgan Stanley boosted its holdings in shares of Nucor by 1.1% in the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after purchasing an additional 41,728 shares during the period. Norges Bank bought a new position in shares of Nucor during the 4th quarter valued at approximately $609,002,000. Nordea Investment Management AB raised its holdings in Nucor by 11.1% during the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock valued at $342,642,000 after buying an additional 210,577 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Nucor by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,919,883 shares of the basic materials company’s stock worth $313,152,000 after buying an additional 56,565 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on NUE. Seaport Research Partners raised their target price on shares of Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. The Goldman Sachs Group increased their price objective on shares of Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Barclays reissued an “overweight” rating and issued a $272.00 price objective on shares of Nucor in a research note on Wednesday. Jefferies Financial Group boosted their target price on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average target price of $266.31.

Insiders Place Their Bets

In other Nucor news, EVP Noah C. Hanners sold 6,472 shares of the business’s stock in a transaction that occurred on 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 owned 50,377 shares of the company’s stock, valued at approximately $11,410,390.50. The trade was a 11.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. The trade was a 9.74% 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 82,378 shares of company stock valued at $18,963,930. 0.62% of the stock is currently owned by company insiders.

Nucor Stock Up 1.1%

Shares of NYSE NUE opened at $236.80 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The firm has a market capitalization of $53.93 billion, a price-to-earnings ratio of 23.45, a PEG ratio of 0.53 and a beta of 1.91. The stock has a 50 day moving average price of $238.84 and a 200 day moving average price of $200.91. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $270.90.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. Sell-side analysts expect that Nucor Corporation will post 17.68 earnings per share for the current year.

Nucor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Nucor’s payout ratio is currently 22.18%.

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.