Engineers Gate Manager LP Increases Position in Nucor Corporation $NUE

Key Points

• Engineers Gate Manager LP increased its Nucor position by 544.4% in the second quarter, ending with 46,719 shares valued at approximately $10.4 million. Institutional investors collectively own 76.48% of Nucor.
• Nucor reported a quarterly earnings beat, with EPS of $4.84 versus the $4.46 consensus estimate and revenue of $10.40 billion. Revenue rose 23% year over year, while analysts expect full-year EPS of $17.95.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $274.38 versus the referenced share price of $255.21; however, some near-term earnings estimates were reduced and two executives recently sold shares.

Engineers Gate Manager LP raised its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 544.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,719 shares of the basic materials company's stock after purchasing an additional 39,469 shares during the period. Engineers Gate Manager LP's holdings in Nucor were worth $10,407,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. raised its position in shares of Nucor by 745.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 83,463 shares of the basic materials company's stock worth $13,614,000 after purchasing an additional 73,588 shares during the last quarter. California Public Employees Retirement System grew its position in Nucor by 19.3% during the 1st quarter. California Public Employees Retirement System now owns 510,331 shares of the basic materials company's stock valued at $86,297,000 after purchasing an additional 82,668 shares during the last quarter. Pacific Heights Asset Management LLC grew its position in Nucor by 12.9% during the 4th quarter. Pacific Heights Asset Management LLC now owns 175,000 shares of the basic materials company's stock valued at $28,544,000 after purchasing an additional 20,000 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Nucor during the 4th quarter valued at about $23,804,000. Finally, Bank of New York Mellon Corp raised its holdings in Nucor by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 1,809,899 shares of the basic materials company's stock worth $306,054,000 after buying an additional 29,476 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Nucor news, COO Stephen Laxton sold 3,968 shares of the business's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the sale, the chief operating officer directly owned 77,867 shares in the company, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas Batterbee sold 4,000 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president directly owned 16,138 shares in the company, valued at $4,212,340.76. The trade was a 19.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.62% of the company's stock.

Trending Headlines about Nucor

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: JPMorgan raised its price target on Nucor from $294 to $308 and maintained an “overweight” rating, implying significant potential upside from the referenced trading level. JPMorgan raises Nucor price target
• Positive Sentiment: Nucor has outperformed major steel peers over the past year, and Wall Street analysts continue to see additional upside, supporting investor confidence in the company’s execution and market position. How Is Nucor’s Stock Performance Compared to Other Steel Stocks
• Positive Sentiment: Zacks lifted its FY2028 EPS estimate to $20.40 from $20.11 and its Q2 2028 estimate to $5.55 from $5.32, indicating better longer-term earnings expectations.
• Neutral Sentiment: Nucor is among the steel producers viewed as capable of navigating weak demand while benefiting from higher steel prices. However, sluggish Chinese demand and softness in some end markets remain industrywide risks. Zacks Industry Outlook Highlights Steel Producers
• Negative Sentiment: Zacks trimmed several near- to intermediate-term earnings estimates: Q3 2026 EPS to $5.90 from $5.95, Q4 2026 to $4.81 from $4.86, and FY2027 to $18.83 from $19.15. The firm also retained a “Hold” rating.

Nucor Stock Performance

Shares of NYSE NUE opened at $255.21 on Friday. The firm's 50-day moving average price is $250.96 and its 200-day moving average price is $223.73. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $280.11. The company has a market cap of $57.90 billion, a PE ratio of 20.35, a PEG ratio of 0.96 and a beta of 1.87. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.38. The firm had revenue of $10.40 billion during the quarter, compared to analysts' expectations of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm's quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.60 earnings per share. As a group, analysts anticipate that Nucor Corporation will post 17.95 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on NUE shares. KeyCorp upgraded shares of Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 target price on the stock in a research note on Wednesday, June 24th. Morgan Stanley set a $270.00 price target on shares of Nucor in a research report on Wednesday, July 29th. Zacks Research lowered shares of Nucor from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Argus upped their price objective on Nucor from $200.00 to $262.00 and gave the company a "buy" rating in a research report on Friday, May 15th. Finally, Wall Street Zen upgraded Nucor from a "buy" rating to a "strong-buy" rating in a research note on Saturday, May 16th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $274.38.

Nucor Profile

Nucor Corporation is a Charlotte, North Carolina-based steel and steel products company. It manufactures carbon, alloy and stainless steel products, including sheet, plate, bar, structural steel, rail, wire rod, rebar and merchant bar. The company also produces steel joists, deck, beams, piling, wire products, fasteners, grating, metal building systems and other fabricated steel products.

Nucor operates an integrated network of electric arc furnace steel mills, recycling facilities and downstream manufacturing operations.

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