Nucor Corporation $NUE Stake Boosted by Allstate Corp

Key Points

• Allstate Corp more than doubled its Nucor stake in the fourth quarter, increasing holdings by 100.1% to 16,028 shares valued at about $2.61 million.
• Nucor reported a strong quarterly beat, posting $3.23 EPS versus $2.82 expected and revenue of $9.50 billion versus $8.88 billion expected, with revenue up 21.3% year over year.
• The company also authorized a $4 billion share buyback, covering up to 9.7% of outstanding shares, while analysts remain broadly positive with an average rating of “Moderate Buy” and a $247.50 target price.

Allstate Corp grew its stake in shares of Nucor Corporation (NYSE:NUE - Free Report) by 100.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,028 shares of the basic materials company's stock after acquiring an additional 8,020 shares during the period. Allstate Corp's holdings in Nucor were worth $2,614,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NUE. Stance Capital LLC acquired a new stake in shares of Nucor in the 3rd quarter valued at $25,000. AXS Investments LLC acquired a new stake in shares of Nucor in the 3rd quarter valued at $37,000. Vision Financial Markets LLC lifted its stake 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 valued at $37,000 after purchasing an additional 200 shares during the last quarter. Ares Financial Consulting LLC acquired a new stake in shares of Nucor in the 4th quarter valued at $45,000. Finally, Caitlin John LLC acquired a new stake in shares of Nucor in the 3rd quarter valued at $41,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Up 2.5%

Shares of NUE opened at $246.36 on Thursday. The company has a 50-day simple moving average of $200.60 and a 200-day simple moving average of $179.79. The firm has a market capitalization of $56.11 billion, a P/E ratio of 24.39, a P/E/G ratio of 0.64 and a beta of 1.87. 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 52 week low of $106.21 and a 52 week high of $247.40.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, beating analysts' consensus estimates of $2.82 by $0.41. The business had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm's revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.77 earnings per share. On average, equities research analysts expect that Nucor Corporation will post 14.84 earnings per share for the current year.

Nucor announced that its Board of Directors has authorized a stock buyback program on Friday, February 20th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 9.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NUE. Jefferies Financial Group upped their price target on shares of Nucor from $225.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Zacks Research upgraded shares of Nucor from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. CICC Research began coverage on shares of Nucor in a report on Monday. They set an "outperform" rating for the company. Morgan Stanley upped their price target on shares of Nucor from $180.00 to $227.00 and gave the company an "equal weight" rating in a report on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of Nucor from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Two 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $247.50.

Insider Buying and Selling at Nucor

In related news, EVP Allen C. Behr sold 10,096 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $226.08, for a total value of $2,282,503.68. Following the completion of the transaction, the executive vice president owned 62,871 shares of the company's stock, valued at $14,213,875.68. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael D. Keller sold 4,554 shares of the stock in a transaction dated 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 directly owned 16,834 shares of the company's stock, valued at $3,802,127.24. This trade represents a 21.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have 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.

Key Nucor News

Here are the key news stories impacting Nucor this week:

• Positive Sentiment: Zacks Research raised its earnings forecasts for Nucor across multiple periods, including FY2026, FY2027, and FY2028, implying stronger profitability ahead. The firm reiterated a Strong-Buy rating, which can support investor confidence.
• Positive Sentiment: Analysts lifted near-term EPS estimates for Q3 2026, Q4 2026, and Q1 2027, signaling expectations for sustained operating strength rather than a one-quarter earnings pop.
• Positive Sentiment: Nucor’s stock has been trading near its 52-week high after a strong quarterly report that beat consensus on both earnings and revenue, helping reinforce the bullish case for the shares.
• Neutral Sentiment: Coverage highlighting Nucor as one of Warren Buffett’s Berkshire holdings and a steady dividend payer adds a quality/income angle, but it is not a direct catalyst on its own.

Nucor 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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