Natixis Advisors LLC Raises Position in Nucor Corporation $NUE

Natixis Advisors LLC grew its holdings in shares of Nucor Corporation (NYSE:NUE) by 163.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 282,534 shares of the basic materials company’s stock after purchasing an additional 175,232 shares during the quarter. Natixis Advisors LLC owned approximately 0.12% of Nucor worth $46,085,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Nucor by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock worth $4,633,554,000 after purchasing an additional 144,038 shares during the period. Norges Bank purchased a new position in shares of Nucor in the 4th quarter worth $609,002,000. Capital World Investors raised its position in shares of Nucor by 20.1% in the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock worth $412,081,000 after buying an additional 509,019 shares during the period. Nordea Investment Management AB raised its position in shares of 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 buying an additional 210,577 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its position in shares of Nucor by 2.4% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,685,250 shares of the basic materials company’s stock worth $228,233,000 after buying an additional 38,990 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NUE. Zacks Research raised Nucor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Bank of America increased their target price on Nucor from $190.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. CICC Research began coverage on Nucor in a research report on Monday, May 25th. They issued an “outperform” rating on the stock. Barclays began coverage on Nucor in a research report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 target price on the stock. Finally, UBS Group lowered Nucor from a “buy” rating to a “neutral” rating and increased their target price for the stock from $190.00 to $224.00 in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.67.

Insider Transactions at Nucor

In related news, EVP Bradley Ford sold 2,240 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total value of $519,971.20. Following the completion of the sale, the executive vice president directly owned 43,649 shares in the company, 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 is accessible through the SEC website. Also, EVP Randy J. Spicer sold 2,500 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $225.00, for a total value of $562,500.00. Following the sale, the executive vice president owned 20,510 shares of the company’s stock, valued at $4,614,750. This represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 71,818 shares of company stock worth $16,234,593 in the last quarter. 0.62% of the stock is owned by corporate insiders.

Nucor Stock Down 0.1%

Shares of NYSE NUE opened at $258.28 on Thursday. Nucor Corporation has a 12-month low of $115.66 and a 12-month high of $261.47. The company has a market cap of $58.82 billion, a P/E ratio of 25.57, a P/E/G ratio of 0.68 and a beta of 1.88. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average price of $209.87 and a 200 day moving average price of $183.61.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same period in the prior year, the firm earned $0.77 EPS. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. Research analysts anticipate that Nucor Corporation will post 14.84 EPS for the current fiscal year.

Nucor announced that its Board of Directors has authorized a stock repurchase plan on Friday, February 20th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the basic materials company to purchase up to 9.7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

About Nucor

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.