Nucor Corporation $NUE Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its stake in shares of Nucor Corporation (NYSE:NUE) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,902,758 shares of the basic materials company’s stock after selling 125,901 shares during the quarter. Geode Capital Management LLC’s holdings in Nucor were worth $959,004,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in NUE. Stance Capital LLC acquired a new position in shares of Nucor during the 3rd quarter valued at about $25,000. AXS Investments LLC acquired a new stake in shares of Nucor during the third quarter valued at about $37,000. Vision Financial Markets LLC lifted its stake in Nucor by 281.7% during the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 200 shares in the last quarter. Ares Financial Consulting LLC acquired a new position in Nucor during the 4th quarter worth about $45,000. Finally, Caitlin John LLC purchased a new position in shares of Nucor in the third quarter valued at approximately $41,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Noah C. Hanners sold 6,472 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president owned 50,377 shares in the company, valued at approximately $11,410,390.50. This represents a 11.38% 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 the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $225.86, for a total value of $1,028,566.44. Following the transaction, the insider directly owned 16,834 shares in the company, valued at approximately $3,802,127.24. This represents a 21.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 71,818 shares of company stock worth $16,234,593 over the last 90 days. 0.62% of the stock is owned by corporate insiders.

Nucor Stock Up 0.3%

Shares of NYSE NUE opened at $250.06 on Friday. The business has a 50-day moving average price of $204.13 and a 200 day moving average price of $181.02. The stock has a market cap of $56.95 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 0.66 and a beta of 1.87. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. Nucor Corporation has a 52-week low of $106.21 and a 52-week high of $251.39.

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

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on NUE shares. UBS Group cut 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 note on Tuesday, April 28th. BMO Capital Markets upped their target price on shares of Nucor from $196.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Morgan Stanley raised their target price on shares of Nucor from $180.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday, April 29th. BNP Paribas Exane increased their price objective on shares of Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Finally, KeyCorp assumed coverage on shares of Nucor in a report on Wednesday, March 25th. They issued a “sector weight” rating on the stock. Two investment 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 company’s stock. Based on data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average price target of $247.50.

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.