Nucor Corporation $NUE Shares Bought by Waterloo Capital L.P.

Waterloo Capital L.P. raised its stake in Nucor Corporation (NYSE:NUE) by 71.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,341 shares of the basic materials company’s stock after buying an additional 2,643 shares during the quarter. Waterloo Capital L.P.’s holdings in Nucor were worth $1,034,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Fox Run Management L.L.C. acquired a new stake in shares of Nucor during the third quarter worth about $1,528,000. Penserra Capital Management LLC lifted its position in shares of Nucor by 15,814.3% during the third 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 in the last quarter. Peterson Wealth Services lifted its position in shares of Nucor by 587,032.0% during the third 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 in the last quarter. Nordea Investment Management AB lifted its position in shares of Nucor by 11.1% during the fourth 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 in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Nucor during the fourth quarter worth about $1,989,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Nucor from $180.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Bank of America increased 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. The Goldman Sachs Group increased their price target on shares of Nucor from $240.00 to $260.00 in a research report on Friday, May 1st. Weiss Ratings raised shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 14th. Finally, Argus increased their price target on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $247.50.

Insider Activity

In other Nucor news, EVP Allen C. Behr sold 10,096 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $226.08, for a total value of $2,282,503.68. Following the transaction, the executive vice president directly owned 62,871 shares in the company, valued at $14,213,875.68. This 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 this hyperlink. Also, insider Michael D. Keller sold 4,554 shares of the stock in a transaction that occurred on 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 transaction, 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 71,818 shares of company stock valued at $16,234,593. 0.62% of the stock is owned by corporate insiders.

Nucor Stock Up 0.0%

NUE stock opened at $250.06 on Monday. The company’s 50 day moving average price is $204.13 and its 200 day moving average price is $181.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. Nucor Corporation has a fifty-two week low of $106.21 and a fifty-two week high of $251.39. The firm has a market capitalization of $56.95 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 0.66 and a beta of 1.88.

Nucor (NYSE:NUE) last released 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 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 analyst estimates of $8.88 billion. During the same period in the prior year, the firm earned $0.77 earnings per share. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts anticipate that Nucor Corporation will post 14.84 EPS for the current fiscal year.

Nucor declared that its Board of Directors has approved a stock buyback plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is 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.