Nucor Corporation $NUE Shares Purchased by Foundations Investment Advisors LLC

Key Points

• Foundations Investment Advisors LLC increased its Nucor stake by 120.2% in the fourth quarter, bringing its holdings to 8,806 shares worth about $1.44 million.
• Nucor reported strong quarterly results, with EPS of $3.23 versus estimates of $2.82 and revenue of $9.50 billion, up 21.3% year over year.
• The company’s board authorized a $4 billion share repurchase program, covering up to 9.7% of outstanding shares, while analysts currently rate the stock a consensus Moderate Buy with a $247.50 price target.

Foundations Investment Advisors LLC raised its holdings in shares of Nucor Corporation (NYSE:NUE - Free Report) by 120.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,806 shares of the basic materials company's stock after purchasing an additional 4,806 shares during the quarter. Foundations Investment Advisors LLC's holdings in Nucor were worth $1,436,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Nucor by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company's stock valued at $4,633,554,000 after purchasing an additional 144,038 shares in the last quarter. Capital World Investors grew its stake in Nucor by 20.1% during the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company's stock valued at $412,081,000 after purchasing an additional 509,019 shares in the last quarter. Nordea Investment Management AB grew its stake in Nucor by 11.1% during the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company's stock valued at $342,642,000 after purchasing an additional 210,577 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Nucor by 2.4% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,685,250 shares of the basic materials company's stock valued at $228,233,000 after purchasing an additional 38,990 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Nucor by 1.2% during the 4th quarter. Legal & General Group Plc now owns 1,650,305 shares of the basic materials company's stock valued at $269,181,000 after purchasing an additional 19,319 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Nucor Trading Up 0.3%

NYSE:NUE opened at $250.06 on Friday. Nucor Corporation has a 12-month low of $106.21 and a 12-month high of $251.39. The firm has a market capitalization of $56.95 billion, a P/E ratio of 24.76, a P/E/G ratio of 0.66 and a beta of 1.87. 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 business has a 50 day simple moving average of $204.13 and a 200 day simple moving average of $181.02.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.82 by $0.41. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The business 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 firm posted $0.77 EPS. The business's revenue for the quarter was up 21.3% compared to the same quarter last year. Equities research analysts predict that Nucor Corporation will post 14.84 EPS for the current year.

Nucor announced that its Board of Directors has authorized a stock repurchase 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 buy up to 9.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NUE. Jefferies Financial Group raised their price objective on Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, April 28th. CICC Research assumed coverage on Nucor in a research note on Monday, May 25th. They set an "outperform" rating for the company. Morgan Stanley lifted their target price on Nucor from $180.00 to $227.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 29th. Wells Fargo & Company lifted their target price on Nucor from $213.00 to $244.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 29th. Finally, Zacks Research upgraded Nucor from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Nucor currently has a consensus rating of "Moderate Buy" and a consensus price target of $247.50.

Insider Buying and Selling at Nucor

In related news, insider Michael D. Keller sold 4,554 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $225.86, for a total transaction of $1,028,566.44. Following the completion of the transaction, the insider owned 16,834 shares in the company, valued at $3,802,127.24. The trade was a 21.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David A. Sumoski sold 33,068 shares of the business's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $225.67, for a total value of $7,462,455.56. Following the transaction, the executive vice president owned 243,339 shares of the company's stock, valued at $54,914,312.13. This represents a 11.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 71,818 shares of company stock worth $16,234,593. 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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