Nucor Corporation $NUE Shares Purchased by Capital World Investors

Capital World Investors boosted its stake in Nucor Corporation (NYSE:NUE) by 0.2% in the 4th quarter, Holdings Channel reports. The firm owned 3,050,218 shares of the basic materials company’s stock after purchasing an additional 7,457 shares during the period. Capital World Investors’ holdings in Nucor were worth $497,521,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in NUE. Integrated Wealth Concepts LLC increased its holdings in Nucor by 21.1% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Nucor in the 1st quarter valued at approximately $259,000. Geneos Wealth Management Inc. grew its stake in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 153 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Nucor in the second quarter worth $390,000. Finally, Cerity Partners LLC grew its stake in shares of Nucor by 51.9% in the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after acquiring an additional 13,877 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

Nucor stock opened at $254.14 on Monday. The stock has a market cap of $57.88 billion, a P/E ratio of 25.16, a price-to-earnings-growth ratio of 0.67 and a beta of 1.88. The company has a fifty day simple moving average of $213.65 and a 200-day simple moving average of $185.16. Nucor Corporation has a 12-month low of $115.66 and a 12-month high of $264.67. 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 released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.41. The business had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS. Equities analysts expect that Nucor Corporation will post 14.84 EPS for the current fiscal year.

Nucor declared that its board has initiated a stock repurchase plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Nucor

In other news, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction on Monday, May 4th. The shares were sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the completion of the sale, the executive vice president directly owned 62,871 shares of the company’s stock, valued at approximately $14,213,875.68. The trade was a 13.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bradley Ford sold 2,240 shares of Nucor stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total transaction of $519,971.20. Following the sale, the executive vice president directly owned 43,649 shares of the company’s stock, valued at approximately $10,132,242.37. This trade represents a 4.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NUE has been the subject of several research reports. CICC Research initiated coverage on shares of Nucor in a research note on Monday, May 25th. They issued an “outperform” rating for the company. Citigroup boosted their price target on shares of Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 14th. Morgan Stanley boosted their price target on shares of Nucor from $180.00 to $227.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group boosted their price target on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $255.67.

About Nucor

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.