Marble Wealth LLC Invests $529,000 in Nucor Corporation $NUE

Marble Wealth LLC bought a new position in Nucor Corporation (NYSE:NUE) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,240 shares of the basic materials company’s stock, valued at approximately $529,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NUE. Norges Bank acquired a new stake in shares of Nucor in the 4th quarter worth about $609,002,000. AQR Capital Management LLC raised its holdings in shares of Nucor by 580.9% in the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock worth $84,699,000 after acquiring an additional 557,819 shares during the last quarter. Capital World Investors raised its holdings in shares of Nucor by 20.1% in the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after acquiring an additional 509,019 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Nucor by 169.0% in the 4th 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 last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Nucor by 27.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock worth $290,405,000 after acquiring an additional 383,952 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insiders Place Their Bets

In related news, EVP David A. Sumoski sold 33,068 shares of Nucor stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $225.67, for a total value of $7,462,455.56. Following the completion of the transaction, the executive vice president directly owned 243,339 shares in the company, valued at approximately $54,914,312.13. The trade was a 11.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael D. Keller sold 4,554 shares of Nucor stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $225.86, for a total transaction of $1,028,566.44. Following the completion of the transaction, the insider owned 16,834 shares of the company’s stock, valued at $3,802,127.24. This represents a 21.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 71,818 shares of company stock worth $16,234,593 in the last three months. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of analyst reports. CICC Research initiated coverage on shares of Nucor in a report on Monday, May 25th. They issued an “outperform” rating on the stock. UBS Group lowered shares of Nucor from a “buy” rating to a “neutral” rating and upped their target price for the stock from $190.00 to $224.00 in a report on Tuesday, April 28th. Seaport Research Partners restated a “buy” rating and issued a $245.00 target price on shares of Nucor in a report on Thursday, April 30th. Argus increased their price objective on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Jefferies Financial Group increased their price objective on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $251.67.

Nucor Price Performance

Shares of NYSE NUE opened at $258.28 on Thursday. The stock has a fifty day simple moving average of $209.87 and a two-hundred day simple moving average of $183.61. Nucor Corporation has a 1-year low of $115.66 and a 1-year high of $261.47. The firm has a market cap of $58.82 billion, a price-to-earnings ratio of 25.57, a price-to-earnings-growth ratio of 0.68 and a beta of 1.88. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The business 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 company earned $0.77 earnings per share. Nucor’s revenue was up 21.3% compared to the same quarter last year. Analysts anticipate that Nucor Corporation will post 14.84 earnings per share for the current year.

Nucor declared that its board has authorized a share repurchase plan on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are 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.