State of Wyoming Buys New Position in Nucor Corporation $NUE

State of Wyoming bought a new stake in Nucor Corporation (NYSE:NUE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,891 shares of the basic materials company’s stock, valued at approximately $472,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings 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 buying an additional 144,038 shares in the last quarter. Norges Bank bought a new position in shares of Nucor during the 4th quarter worth approximately $609,002,000. Capital World Investors boosted its holdings in shares of Nucor by 20.1% during 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 in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Nucor by 11.1% during 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 in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Nucor by 27.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock worth $290,405,000 after buying an additional 383,952 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on NUE shares. Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Seaport Research Partners restated a “buy” rating and set a $245.00 price target on shares of Nucor in a report on Thursday, April 30th. KeyCorp started coverage on Nucor in a report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Zacks Research upgraded Nucor from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Morgan Stanley increased their price target on Nucor from $180.00 to $227.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.67.

Insider Activity at Nucor

In other news, EVP Daniel R. Needham sold 12,888 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the transaction, the executive vice president directly owned 89,724 shares of the company’s stock, valued at $20,277,624. This represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 completion of the sale, 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 82,378 shares of company stock valued at $18,963,930 over the last three months. 0.62% of the stock is currently owned by company insiders.

Nucor Price Performance

Shares of NYSE:NUE opened at $254.14 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. Nucor Corporation has a twelve month low of $115.66 and a twelve month high of $264.67. The stock’s 50 day moving average is $213.65 and its 200-day moving average is $184.90. The firm has a market capitalization of $57.88 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 0.67 and a beta of 1.88.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company had revenue of $9.50 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. Nucor’s revenue for the quarter was up 21.3% on a year-over-year basis. Sell-side analysts forecast that Nucor Corporation will post 14.84 EPS for the current fiscal year.

Nucor announced that its board has approved a share repurchase 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 management believes its stock is undervalued.

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.