Swedbank AB Has $39.70 Million Position in Nucor Corporation $NUE

Key Points

• Swedbank AB trimmed its stake in Nucor by 4.7% to 243,391 shares (worth about $39.7 million), and institutional investors as a group now own roughly 76.48% of the company.
• Nucor reported a strong quarter with EPS $3.23 beating estimates and revenue of $9.50 billion (up 21.3% YoY), and its board authorized a $4.0 billion share buyback while declaring a $0.56 quarterly dividend (≈1.0% yield).
• Analysts are generally positive — the consensus rating is "Moderate Buy" with a average price target of $243.80 (eight Buys, four Holds), and several firms recently raised targets into the $240–$250 range.

Swedbank AB reduced its stake in Nucor Corporation (NYSE:NUE - Free Report) by 4.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 243,391 shares of the basic materials company's stock after selling 11,874 shares during the period. Swedbank AB owned 0.11% of Nucor worth $39,700,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stance Capital LLC acquired a new position in shares of Nucor in the third quarter valued at $25,000. AXS Investments LLC bought a new stake in Nucor during the third quarter worth about $37,000. Vision Financial Markets LLC lifted its position in Nucor by 281.7% during the third quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company's stock worth $37,000 after purchasing an additional 200 shares during the period. Ares Financial Consulting LLC bought a new position in shares of Nucor in the fourth quarter worth about $45,000. Finally, Caitlin John LLC bought a new position in shares of Nucor in the third quarter worth about $41,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NUE. BNP Paribas Exane increased their target price on shares of Nucor from $210.00 to $248.00 and gave the stock an "outperform" rating in a report on Monday. Jefferies Financial Group increased their target price on shares of Nucor from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Morgan Stanley increased their target price on shares of Nucor from $180.00 to $227.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 29th. UBS Group cut shares of Nucor from a "buy" rating to a "neutral" rating and increased their target price for the stock from $190.00 to $224.00 in a report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. increased their target price on shares of Nucor from $212.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $243.80.

Nucor Stock Down 3.3%

Shares of NYSE NUE opened at $226.60 on Friday. The company has a 50 day simple moving average of $184.10 and a 200 day simple moving average of $171.28. The firm has a market cap of $51.58 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 0.67 and a beta of 1.87. Nucor Corporation has a 1 year low of $106.21 and a 1 year high of $235.44. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55.

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 (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 quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the business earned $0.77 EPS. On average, research analysts forecast that Nucor Corporation will post 13.64 EPS for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 11th. Investors of record on Tuesday, March 31st will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Nucor's dividend payout ratio (DPR) is 22.18%.

Nucor announced that its board has authorized a share repurchase plan on Friday, February 20th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the basic materials company to reacquire up to 9.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Allen C. Behr sold 10,096 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at $14,213,875.68. This trade represents a 13.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kenneth Rex Query sold 7,452 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $196.02, for a total transaction of $1,460,741.04. Following the completion of the transaction, the executive vice president owned 76,628 shares of the company's stock, valued at approximately $15,020,620.56. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 76,770 shares of company stock worth $17,132,834 over the last quarter. 0.62% of the stock is currently 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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