Nucor Co. (NYSE:NUE), a leading basic materials company, has recently garnered attention as its stake in the market grows. According to the most recent Form 13F filing with the Securities and Exchange Commission, CX Institutional has increased its stake in Nucor by a significant 96.4% during the first quarter of this year. This surge resulted in CX Institutional owning 7,027 shares of Nucor’s stock, after acquiring an additional 3,450 shares in that period. The value of CX Institutional’s holdings was estimated at $1,085,000 at the end of the quarter.
The upward trend for Nucor continues with impressive earnings results released on July 24th. The company reported earnings per share (EPS) of $5.81 for the quarter, surpassing analysts’ expectations by $0.22 per share. In terms of revenue, Nucor generated $9.52 billion during the same period, slighly below the consensus estimate of $9.62 billion.
Despite a dip in revenue by 19.3% compared to the previous year, Nucor displayed resilience with a return on equity of 28% and a net margin of 14.81%. It is worth noting that during this quarter last year, Nucor posted an EPS of $9.67.
To further add to its credentials, Nucor’s CEO Leon J.Topalian made headlines with two notable sell transactions during late July 2023. A transaction involving the sale of 27,359 shares took place on July 27th at an average price of $168.19 per share – amounting to a total value exceeding $4 million.
Moreover,CFO Stephen D.Laxton sold off significant portions of his own shares recently .He sold more than twelve thousand stocks on monday ,31st fuly this year .The final sale resulted in Mr.Laxton being credited with over a hefty sum of 2.1 million dollars.
These events were disclosed by Nucor in their legal filings at the Securities and Exchange Commission.
As insider dealings often generate hype among investors, it’s worth noting that the CEO now owns 155,558 shares in the company, valued at $26,163,300.02. Similarly, the CFO currently possesses 62,444 shares in Nucor amounting to roughly $10,706,648.24.
In light of these developments and to demonstrate confidence in their future prospects, Nucor announced on May 11th that its Board of Directors has initiated a share repurchase plan which permits the company to buy back up to $4.00 billion worth of outstanding shares. This indicates the belief held by Nucor’s leadership that their shares may be undervalued.
Nucor is forging ahead as a leader in its sector, capitalizing on opportunities for growth and attracting attention from institutional investors like CX Institutional. With impressive earnings results and a strong leadership team demonstrating conviction through share repurchases, Nucor continues to solidify its position as a prominent player in the market.
Updated on: 03/03/2024
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Buy
DCF: Strong Buy
ROE: Strong Buy
10:00 AM (UTC)
Date:20 January, 2024
|Analyst / firm
Large Investors Show Increasing Confidence in Nucor Corporation’s Growth Potential
August 3, 2023 – In recent times, there have been notable changes in the investment positions of various large investors in Nucor Corporation (NYSE:NUE). One such investor is Moneta Group Investment Advisors LLC, whose stake in Nucor has grown by a staggering 127,059.1% during the fourth quarter. The company now owns an impressive 155,232,061 shares of Nucor’s stock valued at $20,461,138,000 after acquiring an additional 155,109,984 shares in the last quarter.
Another influential investor that has seen its position in Nucor change is Dimensional Fund Advisors LP. This investment firm has boosted its position in Nucor by 0.4% during the fourth quarter and now owns approximately 5,235,900 shares of the basic materials company’s stock valued at $690,181,000.
Morgan Stanley also joins the list of investors with increased holdings in Nucor. Their holdings have jumped by 30.0% during the same period, resulting in ownership of 4,247,626 shares worth $559,880,000.
Capital Wealth Planning LLC took a slightly different approach and significantly raised its position in Nucor by an impressive 90.1% during the first quarter of this year. As a result of this bold move, they now possess 1,863,335 shares of Nucor’s stock worth $287,829 million.
Lastly on our list is Invesco Ltd., which saw their stake in Nucor increase by a substantial 11.3% during the first quarter. With an additional acquisition of 176,738 shares during this period alone, Invesco Ltd.’s total ownership is now valued at $258,471 million.
It is important to note that approximately 79.53% of Nucor’s stock is currently owned by various hedge funds and institutional investors, implying a significant degree of market trust and confidence in the company’s potential.
On Thursday, August 3rd, Nucor Corporation (NYSE:NUE) began trading at $169.56 per share. The stock has shown a consistent upward trend, as indicated by its 50-day moving average price of $156.81 and 200-day moving average price of $155.34. Presently, the company boasts an impressive market capitalization of $42.60 billion with a relatively low PE ratio of 7.83 and a beta of 1.60.
Nucor Corporation maintains a healthy financial position as reflected in its debt-to-equity ratio of 0.32, quick ratio of 2.41, and current ratio of 3.82 – all indicators of strong liquidity.
Investors should also take note that Nucor recently declared a quarterly dividend, which will be paid on Friday, August 11th. Stockholders who were recorded on Friday, June 30th will receive a dividend payout of $0.51 per share on this date. Moreover, those who own shares prior to the ex-dividend date on Thursday, June 29th will be eligible for this dividend payment. With an annualized dividend amounting to $2.04 and a dividend yield standing at 1.20%, Nucor continues to reward its shareholders’ loyalty.
In conclusion, the various large investors making changes to their positions in Nucor Corporation signify strong confidence in the company’s prospects for growth and profitability in the future. Nucor’s solid financial standing coupled with its steady stock performance further reinforces these positive sentiments among investors seeking stable returns from their investments.