MUFG Securities EMEA plc Buys 4,989 Shares of Nucor Corporation $NUE

Key Points

• MUFG Securities EMEA plc increased its Nucor stake by 113.6% in the fourth quarter, buying 4,989 additional shares and bringing its total holding to 9,382 shares worth about $1.53 million.
• Nucor has drawn generally positive analyst sentiment, with multiple firms raising price targets and the stock now carrying a consensus “Moderate Buy” rating and a $247.50 average target price.
• The company recently beat earnings expectations, reporting $3.23 EPS on $9.50 billion in revenue, while its board authorized a $4 billion share repurchase plan covering up to 9.7% of outstanding shares.

MUFG Securities EMEA plc raised its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 113.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,382 shares of the basic materials company's stock after purchasing an additional 4,989 shares during the period. MUFG Securities EMEA plc's holdings in Nucor were worth $1,530,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Stance Capital LLC bought a new position in shares of Nucor in the 3rd quarter worth about $25,000. AXS Investments LLC bought a new position in shares of Nucor in the 3rd quarter worth about $37,000. Vision Financial Markets LLC raised its position in shares of Nucor by 281.7% in the 3rd 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 in the last quarter. Ares Financial Consulting LLC bought a new position in shares of Nucor in the 4th quarter worth about $45,000. Finally, Caitlin John LLC bought a new position in shares of Nucor in the 3rd quarter worth about $41,000. 76.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Zacks Research raised Nucor from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Wells Fargo & Company lifted their price objective on Nucor from $213.00 to $244.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Jefferies Financial Group lifted their price objective on Nucor from $225.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Citigroup lifted their price objective on Nucor from $180.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Finally, Barclays assumed coverage on Nucor in a research report on Thursday, May 21st. They issued an "overweight" rating and a $270.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $247.50.

Nucor Stock Performance

Shares of NUE opened at $258.73 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The stock has a 50-day moving average of $205.92 and a 200-day moving average of $182.04. The company has a market cap of $58.92 billion, a PE ratio of 25.62, a P/E/G ratio of 0.67 and a beta of 1.88. Nucor Corporation has a one year low of $115.35 and a one year high of $260.37.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS 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 the consensus estimate of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm's revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the business posted $0.77 EPS. On average, equities research analysts predict that Nucor Corporation will post 14.84 EPS for the current fiscal year.

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

Insider Buying and Selling

In other news, insider Michael D. Keller sold 4,554 shares of the firm's stock in a transaction dated 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 directly owned 16,834 shares in the company, valued at $3,802,127.24. This trade represents a 21.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Bradley Ford sold 2,240 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $232.13, for a total value of $519,971.20. Following the completion of the sale, the executive vice president owned 43,649 shares of the company's stock, valued at approximately $10,132,242.37. This represents a 4.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 71,818 shares of company stock worth $16,234,593 over the last 90 days. 0.62% of the stock is owned by company insiders.

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.

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