O Shaughnessy Asset Management LLC Acquires 4,179 Shares of Nucor Corporation $NUE

O Shaughnessy Asset Management LLC raised its holdings in Nucor Corporation (NYSE:NUE) by 2.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 151,141 shares of the basic materials company’s stock after acquiring an additional 4,179 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.07% of Nucor worth $24,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of NUE. Integrated Wealth Concepts LLC boosted its position 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 during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Nucor during the first quarter worth approximately $259,000. Geneos Wealth Management Inc. raised its stake in shares of 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 acquiring an additional 153 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Nucor in the second quarter valued at approximately $390,000. Finally, Cerity Partners LLC grew its stake in 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 purchasing an additional 13,877 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

NUE has been the topic of a number of recent research reports. Weiss Ratings raised Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 14th. Morgan Stanley upped their price objective 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. BNP Paribas Exane increased their target price on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a report on Monday, May 4th. KeyCorp assumed coverage on shares of Nucor in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Finally, Citigroup upped their price target on shares of Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $255.67.

Nucor Stock Performance

NYSE NUE opened at $253.38 on Tuesday. The firm has a market capitalization of $57.70 billion, a P/E ratio of 25.09, a PEG ratio of 0.67 and a beta of 1.88. The stock has a 50-day simple moving average of $215.40 and a two-hundred day simple moving average of $185.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. Nucor Corporation has a fifty-two week low of $115.66 and a fifty-two week high of $264.67.

Nucor (NYSE:NUE) last posted its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. The firm 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 quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. On average, equities analysts forecast that Nucor Corporation will post 14.84 earnings per share for the current year.

Nucor announced that its board has initiated a stock 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 purchase up to 9.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Nucor

In other Nucor news, EVP David A. Sumoski sold 33,068 shares of Nucor stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $225.67, for a total transaction of $7,462,455.56. Following the sale, the executive vice president owned 243,339 shares of the company’s stock, valued at $54,914,312.13. The trade was a 11.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Daniel R. Needham sold 12,888 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the completion of the transaction, the executive vice president directly owned 89,724 shares in the company, valued at approximately $20,277,624. This represents a 12.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 82,378 shares of company stock valued at $18,963,930. Insiders own 0.62% of the company’s stock.

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.