O Shaughnessy Asset Management LLC Increases Stock Position in Nucor Corporation $NUE

O Shaughnessy Asset Management LLC increased its stake in shares of Nucor Corporation (NYSE:NUE) by 2.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 151,141 shares of the basic materials company’s stock after purchasing an additional 4,179 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Nucor were worth $24,653,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NUE. Stance Capital LLC acquired a new stake in shares of Nucor in the third quarter valued at $25,000. Vision Financial Markets LLC lifted its stake in Nucor by 281.7% during the 3rd quarter. Vision Financial Markets LLC now owns 271 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Ares Financial Consulting LLC acquired a new position in Nucor during the 4th quarter worth about $45,000. Caitlin John LLC purchased a new position in Nucor during the 3rd quarter valued at about $41,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 153 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NUE. Wells Fargo & Company lifted their price objective on shares of Nucor from $244.00 to $292.00 and gave the company an “overweight” rating in a report on Thursday. Argus raised their price target on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Morgan Stanley upped their price objective on Nucor from $180.00 to $227.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Finally, BMO Capital Markets increased their price objective on Nucor from $250.00 to $285.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Two equities research 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $255.67.

Nucor Trading Down 0.4%

Shares of NYSE:NUE opened at $253.38 on Tuesday. Nucor Corporation has a 52 week low of $115.66 and a 52 week high of $264.67. The company’s 50 day moving average is $215.40 and its two-hundred day moving average is $185.90. The company has a market cap of $57.70 billion, a PE ratio of 25.09, a P/E/G ratio of 0.67 and a beta of 1.88. 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 (NYSE:NUE) last released 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. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities analysts predict that Nucor Corporation will post 14.84 earnings per share for the current fiscal year.

Nucor announced that its Board of Directors has authorized a stock buyback plan on Friday, February 20th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Michael D. Keller sold 4,554 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $225.86, for a total transaction of $1,028,566.44. Following the completion of the sale, the insider owned 16,834 shares in the company, valued at $3,802,127.24. This represents a 21.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Allen C. Behr sold 10,096 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $226.08, for a total value of $2,282,503.68. Following the transaction, the executive vice president directly owned 62,871 shares in the company, valued at approximately $14,213,875.68. This represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 82,378 shares of company stock valued at $18,963,930. 0.62% of the stock is owned by insiders.

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.