State of Wyoming Purchases New Shares in Nucor Corporation $NUE

State of Wyoming purchased a new stake in Nucor Corporation (NYSE:NUE) in the fourth quarter, Holdings Channel.com reports. The fund purchased 2,891 shares of the basic materials company’s stock, valued at approximately $472,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stance Capital LLC purchased a new stake in Nucor in the 3rd quarter valued at $25,000. Vision Financial Markets LLC raised its position in Nucor by 281.7% in the 3rd 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 during the last quarter. Caitlin John LLC purchased a new stake in Nucor in the 3rd quarter valued at $41,000. Geneos Wealth Management Inc. raised its position 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 during the last quarter. Finally, Ares Financial Consulting LLC purchased a new stake in Nucor in the 4th quarter valued at $45,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Bradley Ford sold 2,240 shares of Nucor stock in a transaction dated Tuesday, May 5th. The stock was 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 of the company’s stock, valued at approximately $10,132,242.37. This trade represents a 4.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $226.08, for a total value 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. This trade represents a 13.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 82,378 shares of company stock worth $18,963,930 in the last quarter. 0.62% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NUE shares. BNP Paribas Exane raised their target price on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Argus raised their target price on Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Citigroup raised their target price on Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Wells Fargo & Company raised their target price on Nucor from $244.00 to $292.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Bank of America raised their target price on Nucor from $190.00 to $250.00 and gave the company a “buy” rating in a research report 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. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.67.

Nucor Trading Down 3.1%

Shares of Nucor stock opened at $254.14 on Friday. Nucor Corporation has a 1 year low of $115.66 and a 1 year high of $264.67. The firm has a market cap of $57.88 billion, a PE ratio of 25.16, a P/E/G ratio of 0.67 and a beta of 1.88. The stock has a fifty day moving average price of $213.65 and a 200-day moving average price of $184.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.

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, topping 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 company had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. During the same quarter last year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities research analysts anticipate that Nucor Corporation will post 14.84 EPS for the current year.

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

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.