Banque Cantonale Vaudoise Has $913,000 Holdings in Nucor Corporation $NUE

Key Points

• Banque Cantonale Vaudoise cut its Nucor stake by 53.8% in the fourth quarter, selling 6,525 shares and ending with 5,595 shares valued at about $913,000.
• Nucor reported strong quarterly results, with EPS of $3.23 beating estimates and revenue of $9.50 billion, up 21.3% year over year.
• The company also announced a $4 billion stock buyback, while analysts remain generally positive with an average rating of Moderate Buy and a target price of $247.50.

Banque Cantonale Vaudoise lessened its position in Nucor Corporation (NYSE:NUE - Free Report) by 53.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,595 shares of the basic materials company's stock after selling 6,525 shares during the period. Banque Cantonale Vaudoise's holdings in Nucor were worth $913,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Stance Capital LLC bought a new position in shares of Nucor in the third quarter valued at approximately $25,000. AXS Investments LLC bought a new stake in Nucor during the third quarter worth $37,000. Vision Financial Markets LLC lifted its holdings in Nucor by 281.7% during the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company's stock worth $37,000 after acquiring an additional 200 shares during the period. Ares Financial Consulting LLC bought a new stake in Nucor during the fourth quarter worth $45,000. Finally, Caitlin John LLC bought a new stake in Nucor during the third quarter worth $41,000. Institutional investors own 76.48% of the company's stock.

Nucor Price Performance

Nucor stock opened at $231.99 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. The business has a 50-day simple moving average of $196.07 and a 200 day simple moving average of $177.57. Nucor Corporation has a 52 week low of $106.21 and a 52 week high of $235.45. The stock has a market cap of $52.83 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 0.61 and a beta of 1.87.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. During the same quarter in the previous year, the company posted $0.77 earnings per share. The company's revenue was up 21.3% compared to the same quarter last year. On average, research analysts forecast that Nucor Corporation will post 14.58 earnings per share for the current fiscal year.

Nucor declared that its board has initiated a stock buyback plan on Friday, February 20th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 9.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Randy J. Spicer sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $225.00, for a total transaction of $562,500.00. Following the transaction, the executive vice president directly owned 20,510 shares in the company, valued at $4,614,750. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley Ford sold 2,240 shares of the firm's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total value of $519,971.20. Following the transaction, the executive vice president owned 43,649 shares in the company, valued at approximately $10,132,242.37. The trade was a 4.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 71,818 shares of company stock worth $16,234,593 in the last 90 days. 0.62% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Citigroup raised their target price on Nucor from $180.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. KeyCorp assumed coverage on Nucor in a research report on Wednesday, March 25th. They issued a "sector weight" rating for the company. Jefferies Financial Group raised their target price on Nucor from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Seaport Research Partners reissued a "buy" rating and issued a $245.00 target price on shares of Nucor in a research report on Thursday, April 30th. Finally, Argus raised their target price on Nucor from $200.00 to $262.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Nucor currently has an average rating of "Moderate Buy" and an average target price of $247.50.

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.

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