Diamond Hill Capital Management Inc. trimmed its holdings in shares of Nucor Corporation (NYSE:NUE – Free Report) by 9.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,531,092 shares of the basic materials company’s stock after selling 154,158 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Nucor were worth $249,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NUE. Stance Capital LLC bought a new position in Nucor during the 3rd quarter worth about $25,000. AXS Investments LLC bought a new position in Nucor during the 3rd quarter worth about $37,000. Vision Financial Markets LLC grew its holdings in Nucor by 281.7% during the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Caitlin John LLC bought a new position in Nucor during the 3rd quarter worth about $41,000. Finally, Geneos Wealth Management Inc. grew its holdings in Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 153 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts have commented on NUE shares. Jefferies Financial Group increased their price target on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Wells Fargo & Company increased their price target on shares of Nucor from $213.00 to $244.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on shares of Nucor from $212.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Argus increased their price target on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Bank of America increased their price target on shares of Nucor from $190.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $247.50.
Nucor Stock Performance
NUE stock opened at $226.46 on Friday. The firm has a market cap of $51.57 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 0.61 and a beta of 1.87. The firm has a 50-day simple moving average of $194.87 and a two-hundred day simple moving average of $177.19. Nucor Corporation has a one year low of $106.21 and a one year high of $235.45. 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 (NYSE:NUE – Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS 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%. Nucor’s revenue was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $0.77 EPS. On average, equities analysts forecast that Nucor Corporation will post 14.58 EPS for the current fiscal year.
Nucor declared that its Board of Directors has approved a stock buyback plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
Insider Transactions at Nucor
In related news, EVP Daniel R. Needham sold 12,888 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $226.00, for a total value of $2,912,688.00. Following the completion of the transaction, the executive vice president directly owned 89,724 shares of the company’s stock, valued at $20,277,624. This trade represents a 12.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Noah C. Hanners sold 6,472 shares of the 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 transaction, the executive vice president directly owned 50,377 shares of the company’s stock, valued at $11,410,390.50. The trade was a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 71,818 shares of company stock worth $16,234,593 over the last ninety days. 0.62% of the stock is currently owned by insiders.
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.
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