Swedbank AB Has $39.70 Million Stock Holdings in Nucor Corporation $NUE

Swedbank AB lessened its holdings in shares of Nucor Corporation (NYSE:NUE) by 4.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 243,391 shares of the basic materials company’s stock after selling 11,874 shares during the quarter. Swedbank AB’s holdings in Nucor were worth $39,700,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Fox Run Management L.L.C. acquired a new position in Nucor in the 3rd quarter worth $1,528,000. Penserra Capital Management LLC boosted its stake in Nucor by 15,814.3% in the 3rd quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock worth $452,000 after purchasing an additional 3,321 shares during the period. Peterson Wealth Services boosted its stake in Nucor by 587,032.0% in the 3rd quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock worth $19,879,000 after purchasing an additional 146,758 shares during the period. Nordea Investment Management AB boosted its stake in Nucor by 11.1% in the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock worth $342,642,000 after purchasing an additional 210,577 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in Nucor in the 4th quarter worth $1,989,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Down 0.0%

Shares of NYSE:NUE opened at $231.99 on Monday. The company’s 50-day moving average price is $196.07 and its two-hundred day moving average price is $177.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. Nucor Corporation has a one year low of $106.21 and a one year high of $235.45. The stock has a market capitalization of $52.83 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 0.62 and a beta of 1.87.

Nucor (NYSE:NUE) last issued its quarterly earnings results 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 net margin of 6.82% and a return on equity of 10.68%. The firm had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the previous year, the firm posted $0.77 EPS. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities analysts forecast that Nucor Corporation will post 14.58 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Nucor from $196.00 to $235.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. upped their target price on shares of Nucor from $212.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Citigroup upped their target price on shares of Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Bank of America boosted their price target on shares of Nucor from $190.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, The Goldman Sachs Group boosted their price target on shares of Nucor from $240.00 to $260.00 in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $247.50.

Insider Activity

In other news, EVP Bradley Ford sold 2,240 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total value of $519,971.20. Following the sale, the executive vice president directly owned 43,649 shares of the company’s stock, valued at approximately $10,132,242.37. This represents a 4.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 4,554 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were 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 directly owned 16,834 shares in the company, valued at approximately $3,802,127.24. The trade was a 21.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 71,818 shares of company stock worth $16,234,593. 0.62% of the stock is currently owned by company 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.