Orange Investment Advisors Inc. cut its stake in shares of Nucor Corporation (NYSE:NUE – Free Report) by 15.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 22,391 shares of the basic materials company’s stock after selling 4,249 shares during the period. Orange Investment Advisors Inc.’s holdings in Nucor were worth $3,652,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Stance Capital LLC bought a new position in Nucor in the 3rd quarter worth about $25,000. AXS Investments LLC bought a new stake in Nucor during the 3rd quarter valued at about $37,000. Vision Financial Markets LLC raised its holdings in Nucor by 281.7% in the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after buying an additional 200 shares during the last quarter. Caitlin John LLC bought a new position in shares of Nucor in the third quarter worth approximately $41,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after buying an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.
Nucor Stock Up 0.3%
Shares of NUE opened at $226.46 on Friday. The firm has a market capitalization of $51.57 billion, a P/E ratio of 22.42, a P/E/G ratio of 0.61 and a beta of 1.87. Nucor Corporation has a 12-month low of $106.21 and a 12-month high of $235.45. The firm has a fifty day moving average price of $194.87 and a 200-day moving average price of $177.19. 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 announced that its Board of Directors has authorized a stock buyback plan on Friday, February 20th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
Insider Activity at Nucor
In other Nucor news, insider Michael D. Keller sold 4,554 shares of the company’s stock in a transaction 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 completion of the sale, the insider owned 16,834 shares in the company, valued at $3,802,127.24. This represents a 21.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Noah C. Hanners sold 6,472 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $226.50, for a total value of $1,465,908.00. Following the sale, the executive vice president directly owned 50,377 shares in the company, valued at $11,410,390.50. This trade represents a 11.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 71,818 shares of company stock valued at $16,234,593 over the last quarter. 0.62% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on NUE shares. JPMorgan Chase & Co. boosted their price objective on shares of Nucor from $212.00 to $240.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Seaport Research Partners reissued a “buy” rating and issued a $245.00 price target on shares of Nucor in a report on Thursday, April 30th. Morgan Stanley increased their price objective on shares of Nucor from $180.00 to $227.00 and gave the company an “equal weight” rating in a report on Wednesday, April 29th. Bank of America boosted their target price on shares of Nucor from $190.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Finally, Zacks Research upgraded shares of Nucor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $247.50.
Read Our Latest Analysis on NUE
Nucor Company 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.
Featured Articles
- Five stocks we like better than Nucor
- Meta Platforms 10% Layoff Raises a Bigger Question About AI Spending
- As Small-Cap Outperformance Continues, These 2 ETFs Provide Exposure
- Silicon Shake-Up: The AI Trade Is Moving Beyond NVIDIA
- The Silver Lining of Last Week’s Hims & Hers Earnings Miss
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Corporation (NYSE:NUE – Free Report).
Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.
