Nucor Corporation $NUE Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. trimmed its holdings in shares of Nucor Corporation (NYSE:NUE) by 1.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 354,693 shares of the basic materials company’s stock after selling 6,990 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Nucor were worth $57,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stance Capital LLC acquired a new position in Nucor during the third quarter valued at approximately $25,000. AXS Investments LLC acquired a new position in Nucor during the third quarter valued at approximately $37,000. Vision Financial Markets LLC lifted its position in Nucor by 281.7% during the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. Caitlin John LLC acquired a new position in Nucor during the third quarter valued at approximately $41,000. Finally, Geneos Wealth Management Inc. lifted its position in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after buying an additional 153 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Trading Up 0.0%

NYSE NUE opened at $250.06 on Monday. The company’s fifty day simple moving average is $204.13 and its 200-day simple moving average is $181.29. Nucor Corporation has a 52 week low of $106.21 and a 52 week high of $251.39. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The stock has a market cap of $56.95 billion, a P/E ratio of 24.76, a PEG ratio of 0.66 and a beta of 1.88.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 earnings per share. Equities research analysts predict that Nucor Corporation will post 14.84 EPS for the current fiscal year.

Nucor announced that its board has authorized a stock repurchase plan on Friday, February 20th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, EVP Bradley Ford sold 2,240 shares of Nucor stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total value of $519,971.20. Following the completion of the sale, the executive vice president owned 43,649 shares in the company, valued at approximately $10,132,242.37. The trade was a 4.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael D. Keller sold 4,554 shares of Nucor stock in a transaction on Monday, May 4th. The stock was sold at an average price of $225.86, for a total transaction of $1,028,566.44. Following the completion of the sale, the insider owned 16,834 shares of the company’s stock, valued at approximately $3,802,127.24. This trade represents a 21.29% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 71,818 shares of company stock valued at $16,234,593. 0.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NUE shares. KeyCorp started coverage on shares of Nucor in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Jefferies Financial Group boosted their target price on shares of Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Bank of America boosted their target price on shares of Nucor from $190.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. UBS Group cut shares of Nucor from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $190.00 to $224.00 in a research report on Tuesday, April 28th. Finally, BNP Paribas Exane boosted their target price on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Two research 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $247.50.

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.