Bank of New York Mellon Corp Buys 383,952 Shares of Nucor Corporation $NUE

Key Points

• Bank of New York Mellon boosted its Nucor stake by 27.5% in the fourth quarter, buying 383,952 additional shares and ending with 1.78 million shares worth about $290.4 million.
• Nucor’s latest earnings beat expectations, reporting $3.23 EPS on $9.50 billion in revenue versus estimates of $2.82 and $8.88 billion, while revenue rose 21.3% year over year.
• Analysts remain bullish overall, with multiple firms raising price targets and the stock holding a “Moderate Buy” consensus; Nucor also has a $4 billion share repurchase authorization in place.

Bank of New York Mellon Corp lifted its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 27.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,780,423 shares of the basic materials company's stock after purchasing an additional 383,952 shares during the quarter. Bank of New York Mellon Corp owned 0.78% of Nucor worth $290,405,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Nucor in the 4th quarter worth about $609,002,000. AQR Capital Management LLC increased its stake in Nucor by 580.9% in the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company's stock worth $84,699,000 after acquiring an additional 557,819 shares during the last quarter. Capital World Investors increased its stake in 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 acquiring an additional 509,019 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in Nucor by 169.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company's stock worth $127,216,000 after acquiring an additional 489,950 shares during the last quarter. Finally, M&T Bank Corp increased its stake in Nucor by 494.5% in the 4th quarter. M&T Bank Corp now owns 434,511 shares of the basic materials company's stock worth $70,873,000 after acquiring an additional 361,417 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company's stock.

Insider Activity at Nucor

In other Nucor news, insider Michael D. Keller sold 4,554 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $225.86, for a total value of $1,028,566.44. Following the completion of the sale, the insider owned 16,834 shares in the company, valued at approximately $3,802,127.24. This trade represents a 21.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction that occurred on 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 sale, the executive vice president owned 97,865 shares of the company's stock, valued at approximately $25,294,187.90. This trade represents a 9.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 82,378 shares of company stock worth $18,963,930 over the last three months. Corporate insiders own 0.62% of the company's stock.

Nucor Trading Up 1.7%

Shares of NUE stock opened at $262.16 on Friday. The stock has a market capitalization of $59.70 billion, a PE ratio of 25.96, a P/E/G ratio of 0.68 and a beta of 1.88. Nucor Corporation has a 1-year low of $115.66 and a 1-year high of $264.67. The business has a 50-day moving average of $211.86 and a 200 day moving average of $184.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.82 by $0.41. The company had revenue of $9.50 billion during the quarter, compared to analysts' expectations of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.Nucor's quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.77 EPS. As a group, sell-side analysts anticipate that Nucor Corporation will post 14.84 earnings per share for the current year.

Nucor announced that its board has authorized a stock repurchase program on Friday, February 20th that allows the company to repurchase $4.00 billion in 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 often an indication that the company's board believes its stock is undervalued.

Key Stories Impacting Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Analysts have lifted earnings estimates for Nucor on signs of stronger demand, tariff support, and capital projects that may increase future profits. Should Upbeat NUE Earnings Revisions and Leadership Transition Plans Require Action From Nucor Investors?
• Positive Sentiment: BMO Capital Markets raised its price target on Nucor to $285 and reiterated an Outperform rating, signaling further upside potential. MarketScreener
• Positive Sentiment: Another valuation update from GuruFocus put Nucor at roughly fair value around $286, which supports the idea that the stock can sustain its recent strength. NUE Fairly Valued by DCF at $286
• Neutral Sentiment: Nucor also disclosed planned retirement terms for executive David A. Sumoski, highlighting leadership transition planning rather than a major operational change. Should Upbeat NUE Earnings Revisions and Leadership Transition Plans Require Action From Nucor Investors?
• Neutral Sentiment: Valuation opinions remain split, with some analysts seeing Nucor in the mid-$260s to $270s while others still point to more cautious levels near $184, suggesting continued debate over the stock’s fair value. Why The Nucor (NUE) Story Is Shifting As Analyst Views And Valuations Diverge
• Negative Sentiment: EVP John J. Hollatz sold 10,560 shares for about $2.73 million, a transaction investors may view cautiously even though he still owns a substantial stake. Insider trade disclosure

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NUE shares. Weiss Ratings upgraded Nucor from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 14th. Barclays started coverage on Nucor in a report on Thursday, May 21st. They issued an "overweight" rating and a $270.00 price objective for the company. The Goldman Sachs Group upped their price objective on Nucor from $240.00 to $260.00 in a report on Friday, May 1st. Wall Street Zen upgraded Nucor from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Finally, Citigroup upped their price objective on Nucor from $180.00 to $260.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $255.67.

Nucor Company 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.

Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Corporation (NYSE:NUE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.