Consolidated Capital Management LLC Decreases Stock Holdings in Nucor Corporation $NUE

Consolidated Capital Management LLC reduced its position in shares of Nucor Corporation (NYSE:NUE) by 95.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,523 shares of the basic materials company’s stock after selling 48,129 shares during the period. Consolidated Capital Management LLC’s holdings in Nucor were worth $412,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Nucor by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock worth $4,633,554,000 after purchasing an additional 144,038 shares during the last quarter. Norges Bank purchased a new stake in Nucor in the fourth quarter valued at $609,002,000. Capital World Investors lifted its position in Nucor by 20.1% in the third quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock valued at $412,081,000 after acquiring an additional 509,019 shares during the last quarter. Nordea Investment Management AB lifted its position in Nucor by 11.1% in the fourth quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock valued at $342,642,000 after acquiring an additional 210,577 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in Nucor by 2.4% in the third 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 acquiring an additional 38,990 shares during the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Michael D. Keller sold 4,554 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were 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 of the company’s stock, valued at approximately $3,802,127.24. This represents a 21.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Noah C. Hanners sold 6,472 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $226.50, for a total transaction of $1,465,908.00. Following the transaction, the executive vice president owned 50,377 shares in the company, valued at approximately $11,410,390.50. This trade represents a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 71,818 shares of company stock valued at $16,234,593. 0.62% of the stock is owned by insiders.

Nucor Price Performance

Shares of NYSE:NUE opened at $250.06 on Friday. The company has a 50-day simple moving average of $204.13 and a 200-day simple moving average of $181.02. Nucor Corporation has a one year low of $106.21 and a one year high of $251.39. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.55 and a current ratio of 2.90. The stock has a market capitalization of $56.95 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 0.66 and a beta of 1.87.

Nucor (NYSE:NUE) last announced its earnings results 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. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The business had revenue of $9.50 billion during the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. On average, analysts predict that Nucor Corporation will post 14.84 EPS for the current year.

Nucor declared that its Board of Directors has initiated a share repurchase 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target on shares of Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. UBS Group cut shares of Nucor from a “buy” rating to a “neutral” rating and boosted their price target for the company from $190.00 to $224.00 in a research report on Tuesday, April 28th. Barclays assumed coverage on shares of Nucor in a research report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target for the company. Weiss Ratings raised shares of Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, May 14th. Finally, Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.50.

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.