MUFG Securities EMEA plc Has $1.53 Million Stake in Nucor Corporation $NUE

MUFG Securities EMEA plc raised its stake in shares of Nucor Corporation (NYSE:NUE) by 113.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,382 shares of the basic materials company’s stock after buying an additional 4,989 shares during the period. MUFG Securities EMEA plc’s holdings in Nucor were worth $1,530,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Gulf International Bank UK Ltd boosted its stake in Nucor by 1.0% during the 4th quarter. Gulf International Bank UK Ltd now owns 11,297 shares of the basic materials company’s stock valued at $1,843,000 after purchasing an additional 115 shares during the last quarter. Catalyst Capital Advisors LLC acquired a new position in Nucor during the 4th quarter valued at about $82,000. Norges Bank acquired a new position in Nucor during the 4th quarter valued at about $609,002,000. Eurizon Capital SGR S.p.A. acquired a new position in Nucor during the 4th quarter valued at about $23,804,000. Finally, Fideuram Asset Management Ireland dac acquired a new position in Nucor during the 4th quarter valued at about $2,160,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Trading Up 2.9%

NYSE:NUE opened at $258.73 on Wednesday. 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 market capitalization of $58.92 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 0.67 and a beta of 1.88. The firm’s 50 day moving average is $205.92 and its 200 day moving average is $182.04. Nucor Corporation has a 12 month low of $115.35 and a 12 month high of $260.37.

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

Nucor announced that its board has approved a share repurchase program 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 buy up to 9.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NUE shares. Seaport Research Partners reissued a “buy” rating and set a $245.00 target price on shares of Nucor in a research report on Thursday, April 30th. Zacks Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. lifted their target price on shares of Nucor from $212.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Finally, KeyCorp started coverage on shares of Nucor in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $247.50.

Insider Buying and Selling

In related news, EVP Bradley Ford sold 2,240 shares of Nucor stock in a transaction that occurred on 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 owned 43,649 shares of the company’s stock, valued at approximately $10,132,242.37. The trade was a 4.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Noah C. Hanners sold 6,472 shares of Nucor stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 50,377 shares in the company, valued at $11,410,390.50. This trade represents a 11.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,818 shares of company stock worth $16,234,593 in the last three months. Insiders own 0.62% of the company’s stock.

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.