Nucor Corporation $NUE Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its position in shares of Nucor Corporation (NYSE:NUE) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,338 shares of the basic materials company’s stock after purchasing an additional 2,882 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Nucor were worth $12,615,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NUE. Norges Bank acquired a new stake in shares of Nucor during the fourth quarter worth about $609,002,000. AQR Capital Management LLC lifted its holdings in shares of Nucor by 580.9% during the second quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock worth $84,699,000 after purchasing an additional 557,819 shares during the period. Capital World Investors lifted its holdings in shares of Nucor by 20.1% during the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after purchasing an additional 509,019 shares during the period. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Nucor by 169.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock worth $127,216,000 after purchasing an additional 489,950 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Nucor by 27.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock worth $290,405,000 after purchasing an additional 383,952 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insiders Place Their Bets

In other Nucor news, EVP Allen C. Behr sold 10,096 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president owned 62,871 shares in the company, valued at approximately $14,213,875.68. This represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Randy J. Spicer sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the completion of the sale, the executive vice president owned 20,510 shares in the company, valued at approximately $4,614,750. This represents a 10.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 82,378 shares of company stock worth $18,963,930. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of research reports. BMO Capital Markets lifted their target price on Nucor from $250.00 to $285.00 and gave the stock an “outperform” rating in a report on Wednesday. Seaport Research Partners reaffirmed a “buy” rating and set a $245.00 price target on shares of Nucor in a research report on Thursday, April 30th. Citigroup increased their price target on Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group increased their price target on Nucor from $240.00 to $260.00 in a research report on Friday, May 1st. Finally, Argus increased their price target on Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $255.67.

Nucor Trading Down 3.1%

Nucor stock opened at $254.14 on Friday. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. Nucor Corporation has a 12 month low of $115.66 and a 12 month high of $264.67. The stock’s 50 day simple moving average is $213.65 and its two-hundred day simple moving average is $184.90. 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.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS 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 business had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same quarter in the prior year, the firm posted $0.77 EPS. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. Analysts anticipate that Nucor Corporation will post 14.84 earnings per share for the current year.

Nucor announced that its board has initiated a share repurchase plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are 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.