ING Groep NV Purchases 59,704 Shares of Nucor Corporation $NUE

ING Groep NV raised its position in shares of Nucor Corporation (NYSE:NUE) by 201.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,377 shares of the basic materials company’s stock after purchasing an additional 59,704 shares during the quarter. ING Groep NV’s holdings in Nucor were worth $14,578,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Empirical Asset Management LLC grew its stake in shares of Nucor by 2.6% during the 4th quarter. Empirical Asset Management LLC now owns 2,130 shares of the basic materials company’s stock valued at $347,000 after purchasing an additional 54 shares during the period. Krilogy Financial LLC grew its stake in shares of Nucor by 4.1% during the 4th quarter. Krilogy Financial LLC now owns 1,531 shares of the basic materials company’s stock valued at $272,000 after purchasing an additional 61 shares during the period. Rosenberg Matthew Hamilton grew its stake in shares of Nucor by 3.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 2,011 shares of the basic materials company’s stock valued at $328,000 after purchasing an additional 69 shares during the period. HUB Investment Partners LLC grew its stake in shares of Nucor by 1.9% during the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company’s stock valued at $531,000 after purchasing an additional 75 shares during the period. Finally, Global Assets Advisory LLC grew its stake in shares of Nucor by 3.0% during the 4th quarter. Global Assets Advisory LLC now owns 2,677 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 77 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NUE has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on Nucor from $180.00 to $227.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 29th. CICC Research initiated coverage on Nucor in a research note on Monday, May 25th. They set an “outperform” rating for the company. Wells Fargo & Company boosted their price target on Nucor from $244.00 to $292.00 and gave the company an “overweight” rating in a research note on Thursday. KeyCorp assumed coverage on Nucor in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Finally, UBS Group cut Nucor from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $190.00 to $224.00 in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.67.

Insider Buying and Selling

In related news, EVP Noah C. Hanners sold 6,472 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $226.50, for a total value of $1,465,908.00. Following the transaction, the executive vice president directly owned 50,377 shares of the company’s stock, valued at approximately $11,410,390.50. The trade was a 11.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John J. Hollatz sold 10,560 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares in the company, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 82,378 shares of company stock worth $18,963,930 in the last quarter. 0.62% of the stock is owned by insiders.

Nucor Stock Down 0.1%

NYSE NUE opened at $254.14 on Monday. The stock’s 50 day moving average is $213.65 and its 200 day moving average is $185.16. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. Nucor Corporation has a 12 month low of $115.66 and a 12 month high of $264.67. The stock has a market cap of $57.88 billion, a PE ratio of 25.16, a P/E/G ratio of 0.67 and a beta of 1.88.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping 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 company had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. During the same period in the previous year, the firm earned $0.77 EPS. The firm’s revenue was up 21.3% compared to the same quarter last year. Research analysts predict that Nucor Corporation will post 14.84 EPS for the current fiscal year.

Nucor announced that its Board of Directors has initiated 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 generally a sign that the company’s board of directors believes its shares are undervalued.

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.