Havemeyer Place LP Makes New Investment in Nucor Corporation $NUE

Havemeyer Place LP acquired a new position in shares of Nucor Corporation (NYSE:NUE) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 11,631 shares of the basic materials company’s stock, valued at approximately $1,897,000.

Other hedge funds also recently added to or reduced their stakes in the company. Stance Capital LLC purchased a new position in shares of Nucor during the 3rd quarter worth approximately $25,000. Vision Financial Markets LLC increased its stake in Nucor by 281.7% in the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 200 shares in the last quarter. Ares Financial Consulting LLC purchased a new position in Nucor in the 4th quarter valued at approximately $45,000. Caitlin John LLC purchased a new position in Nucor in the 3rd quarter valued at approximately $41,000. Finally, Geneos Wealth Management Inc. increased its stake in Nucor by 81.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 153 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Price Performance

Shares of NYSE:NUE opened at $254.14 on Friday. The company has a market cap of $57.88 billion, a P/E ratio of 25.16, a P/E/G ratio of 0.67 and a beta of 1.88. 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 52 week low of $115.66 and a 52 week high of $264.67. The business has a fifty day simple moving average of $213.65 and a 200-day simple moving average of $184.90.

Nucor (NYSE:NUE) last announced its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating 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 business had revenue of $9.50 billion during the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter in the previous year, the business earned $0.77 earnings per share. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities research analysts forecast that Nucor Corporation will post 14.84 EPS for the current year.

Nucor declared that its board has approved a stock buyback program on Friday, February 20th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity at Nucor

In other Nucor news, EVP Noah C. Hanners sold 6,472 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the transaction, the executive vice president owned 50,377 shares in the company, valued at $11,410,390.50. The trade was a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the transaction, the executive vice president owned 97,865 shares in the company, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 82,378 shares of company stock valued at $18,963,930 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on NUE shares. BNP Paribas Exane raised their price target on Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Bank of America raised their price target on Nucor from $190.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. KeyCorp started coverage on Nucor in a research report on Wednesday, March 25th. They set a “sector weight” rating for the company. Wells Fargo & Company raised their price target on Nucor from $244.00 to $292.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Jefferies Financial Group raised their price target on Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Two 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $255.67.

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.