Banque Cantonale Vaudoise decreased its position in shares of Nucor Corporation (NYSE:NUE – Free Report) by 53.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,595 shares of the basic materials company’s stock after selling 6,525 shares during the period. Banque Cantonale Vaudoise’s holdings in Nucor were worth $913,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stance Capital LLC purchased a new stake in shares of Nucor in the 3rd quarter worth approximately $25,000. AXS Investments LLC purchased a new stake in shares of Nucor in the 3rd quarter worth approximately $37,000. Vision Financial Markets LLC grew its stake in shares of Nucor by 281.7% in the 3rd 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. Geneos Wealth Management Inc. grew its stake in shares of Nucor by 81.8% in the 1st 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 during the last quarter. Finally, Caitlin John LLC purchased a new stake in shares of Nucor in the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.
Nucor Trading Up 2.5%
NYSE:NUE opened at $231.99 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The firm has a market capitalization of $52.83 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 0.61 and a beta of 1.87. Nucor Corporation has a one year low of $106.21 and a one year high of $235.45. The business has a fifty day moving average price of $196.07 and a 200-day moving average price of $177.57.
Nucor announced that its Board of Directors has initiated a stock buyback 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 typically an indication that the company’s board of directors believes its shares are undervalued.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. KeyCorp assumed coverage on Nucor in a research report on Wednesday, March 25th. They issued a “sector weight” rating on the stock. Morgan Stanley upped their price objective on Nucor from $180.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Wall Street Zen raised Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Citigroup upped their price objective on Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Seaport Research Partners reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Nucor in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $247.50.
View Our Latest Research Report on NUE
Insider Activity
In other news, EVP Allen C. Behr sold 10,096 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the completion of the transaction, the executive vice president owned 62,871 shares in the company, valued at $14,213,875.68. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Noah C. Hanners sold 6,472 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 50,377 shares of the company’s stock, valued at approximately $11,410,390.50. The trade was a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 71,818 shares of company stock valued at $16,234,593. 0.62% of the stock is owned by corporate insiders.
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
- SpaceX IPO: Opportunity? Or the Ultimate Hype Trade?
- CAVA Group’s Stock Looks Delicious After Strong Earnings
- Lowe’s Finds Support at $215 After Q1 Earnings Sell-Off
- Deere Beats Q2 Estimates, But Ag Weakness Weighs on Outlook
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.
