Nucor Corporation $NUE Shares Bought by Axxcess Wealth Management LLC

Key Points

• Axxcess Wealth Management LLC boosted its Nucor stake by 134.5% in the fourth quarter, ending with 19,606 shares valued at about $3.2 million.
• Nucor reported strong quarterly results, posting $3.23 EPS versus estimates of $2.82 and revenue of $9.50 billion, which topped analyst expectations.
• The company’s board authorized a $4 billion share buyback, while analysts remain broadly positive with a consensus Moderate Buy rating and an average price target of $247.50.

Axxcess Wealth Management LLC raised its stake in Nucor Corporation (NYSE:NUE - Free Report) by 134.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,606 shares of the basic materials company's stock after acquiring an additional 11,245 shares during the quarter. Axxcess Wealth Management LLC's holdings in Nucor were worth $3,198,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Midwest Financial Partners Investments Inc. acquired a new position in Nucor in the fourth quarter valued at approximately $311,000. Plan A Wealth LLC lifted its holdings in Nucor by 7.3% in the fourth quarter. Plan A Wealth LLC now owns 3,905 shares of the basic materials company's stock valued at $637,000 after acquiring an additional 265 shares during the period. BOK Financial Private Wealth Inc. acquired a new position in Nucor in the fourth quarter valued at approximately $87,000. Global Retirement Partners LLC lifted its holdings in Nucor by 39.1% in the fourth quarter. Global Retirement Partners LLC now owns 3,693 shares of the basic materials company's stock valued at $602,000 after acquiring an additional 1,038 shares during the period. Finally, Sierra Summit Advisors LLC lifted its holdings in Nucor by 2.2% in the fourth quarter. Sierra Summit Advisors LLC now owns 8,912 shares of the basic materials company's stock valued at $1,454,000 after acquiring an additional 193 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Nucor Stock Down 0.0%

Shares of NUE opened at $231.99 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. Nucor Corporation has a one year low of $106.21 and a one year high of $235.45. The stock has a market capitalization of $52.83 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 0.62 and a beta of 1.87. The stock has a 50 day moving average price of $196.07 and a 200 day moving average price of $177.78.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 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 analysts' expectations of $8.88 billion. During the same period in the previous year, the business earned $0.77 earnings per share. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. Equities research analysts forecast that Nucor Corporation will post 14.58 earnings per share for the current fiscal year.

Nucor announced that its Board of Directors has initiated a stock buyback plan on Friday, February 20th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 9.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. BMO Capital Markets boosted their price target on Nucor from $196.00 to $235.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Weiss Ratings raised Nucor from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, May 14th. Morgan Stanley boosted their price objective on Nucor from $180.00 to $227.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price objective on Nucor from $212.00 to $240.00 and gave the company an "overweight" rating in a research report on Wednesday, April 29th. Finally, Bank of America boosted their price objective on Nucor from $190.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $247.50.

Insider Activity

In other Nucor news, EVP Randy J. Spicer sold 2,500 shares of the company's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the completion of the sale, the executive vice president directly owned 20,510 shares in the company, valued at $4,614,750. This represents a 10.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley Ford sold 2,240 shares of the company's stock in a transaction on 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. The trade was a 4.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 71,818 shares of company stock valued at $16,234,593 in the last three months. Company insiders own 0.62% of the company's stock.

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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