Fjarde AP Fonden Fourth Swedish National Pension Fund Has $12.20 Million Stock Holdings in Nucor Corporation $NUE

Key Points

• Fjarde AP Fonden boosted its Nucor stake by 55.5% in the fourth quarter, adding 26,700 shares to bring its total to 74,786 shares valued at about $12.2 million.
• Nucor reported strong quarterly results, with earnings of $3.23 per share and revenue of $9.50 billion, both ahead of Wall Street estimates and up 21.3% from a year earlier.
• The company’s board approved a $4.0 billion share buyback, while analysts remain largely constructive with a consensus rating of Moderate Buy and a target price of $255.67.

Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 55.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 74,786 shares of the basic materials company's stock after acquiring an additional 26,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Nucor were worth $12,198,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in NUE. Stance Capital LLC bought a new stake in Nucor in the third quarter valued at about $25,000. Vision Financial Markets LLC increased its stake in Nucor by 281.7% in the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 200 shares during the period. Caitlin John LLC bought a new stake in Nucor in the third quarter valued at about $41,000. Geneos Wealth Management Inc. increased its stake in Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 153 shares during the period. Finally, Ares Financial Consulting LLC bought a new stake in Nucor in the fourth quarter valued at about $45,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

Shares of Nucor stock opened at $254.14 on Friday. 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 $57.88 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 0.67 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 firm's 50-day moving average price is $213.65 and its two-hundred day moving average price is $184.90.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.41. The firm 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%. The company's quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.77 earnings per share. On average, equities analysts predict that Nucor Corporation will post 14.84 earnings per share for the current fiscal year.

Nucor announced that its board has approved a stock buyback plan on Friday, February 20th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes 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 of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of analyst reports. Morgan Stanley upped their target price on shares of Nucor from $180.00 to $227.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 29th. Jefferies Financial Group upped their target price on shares of Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded Nucor from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. upped their price target on Nucor from $212.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 29th. Finally, BMO Capital Markets upped their price target on Nucor from $250.00 to $285.00 and gave the company an "outperform" rating in a research report on Wednesday. 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $255.67.

Insider Buying and Selling

In other news, EVP Allen C. Behr sold 10,096 shares of the firm's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $226.08, for a total value of $2,282,503.68. Following the completion of the sale, the executive vice president directly owned 62,871 shares in the company, valued at approximately $14,213,875.68. This trade represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction dated Wednesday, June 3rd. The shares were 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 directly owned 97,865 shares of the company's stock, valued at $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 82,378 shares of company stock valued at $18,963,930 in the last 90 days. 0.62% of the stock is owned by corporate insiders.

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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