National Pension Service Raises Position in Nucor Corporation $NUE

National Pension Service boosted its stake in Nucor Corporation (NYSE:NUE) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 351,806 shares of the basic materials company’s stock after buying an additional 12,846 shares during the quarter. National Pension Service’s holdings in Nucor were worth $57,383,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NUE. Integrated Wealth Concepts LLC lifted its stake 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 buying an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Nucor in the 1st quarter valued at about $259,000. Geneos Wealth Management Inc. lifted its stake in Nucor by 81.8% in the 1st 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. Sivia Capital Partners LLC purchased a new position in Nucor in the 2nd quarter valued at about $390,000. Finally, Cerity Partners LLC lifted its stake in Nucor by 51.9% in the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after buying an additional 13,877 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NUE has been the topic of a number of research reports. Seaport Research Partners reissued a “buy” rating and issued a $245.00 target price on shares of Nucor in a research note on Thursday, April 30th. CICC Research initiated coverage on shares of Nucor in a research note on Monday, May 25th. They issued an “outperform” rating on the stock. KeyCorp initiated coverage on shares of Nucor in a research note on Wednesday, March 25th. They issued a “sector weight” rating on the stock. Weiss Ratings raised shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 14th. Finally, Citigroup raised their target price 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. Two 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $247.50.

Nucor Trading Up 0.3%

NUE opened at $250.06 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The company’s 50 day simple moving average is $204.13 and its two-hundred day simple moving average is $181.02. Nucor Corporation has a 1-year low of $106.21 and a 1-year high of $251.39. The firm has a market capitalization of $56.95 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 0.66 and a beta of 1.87.

Nucor (NYSE:NUE) last announced 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 the consensus estimate 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 last year, the firm earned $0.77 EPS. Analysts expect that Nucor Corporation will post 14.84 EPS for the current fiscal year.

Nucor announced that its Board of Directors has initiated a share buyback program on Friday, February 20th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Nucor

In other news, EVP Noah C. Hanners sold 6,472 shares of the firm’s stock in a transaction that occurred on 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 $11,410,390.50. This trade represents a 11.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael D. Keller sold 4,554 shares of the firm’s stock in a transaction that occurred 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 sale, 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 position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 71,818 shares of company stock worth $16,234,593. Insiders own 0.62% of the company’s stock.

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.