Handelsbanken Fonder AB Sells 2,342 Shares of Nucor Corporation $NUE

Handelsbanken Fonder AB trimmed its position in Nucor Corporation (NYSE:NUE) by 13.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,140 shares of the basic materials company’s stock after selling 2,342 shares during the period. Handelsbanken Fonder AB’s holdings in Nucor were worth $2,469,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of NUE. Fox Run Management L.L.C. purchased a new stake in shares of Nucor during the 3rd quarter valued at $1,528,000. Penserra Capital Management LLC raised its position in shares of Nucor by 15,814.3% during the 3rd quarter. Penserra Capital Management LLC now owns 3,342 shares of the basic materials company’s stock valued at $452,000 after buying an additional 3,321 shares in the last quarter. Peterson Wealth Services raised its position in shares of Nucor by 587,032.0% during the 3rd quarter. Peterson Wealth Services now owns 146,783 shares of the basic materials company’s stock valued at $19,879,000 after buying an additional 146,758 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Nucor by 11.1% during the 4th quarter. Nordea Investment Management AB now owns 2,103,000 shares of the basic materials company’s stock valued at $342,642,000 after buying an additional 210,577 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Nucor during the 4th quarter valued at $1,989,000. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael D. Keller sold 4,554 shares of Nucor stock in a transaction on 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 owned 16,834 shares in the company, valued at approximately $3,802,127.24. The trade was a 21.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 71,818 shares of company stock worth $16,234,593 over the last 90 days. Insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on NUE shares. Zacks Research upgraded shares of Nucor from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. KeyCorp started coverage on shares of Nucor in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Morgan Stanley raised their price objective on shares of Nucor from $180.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Citigroup raised their price objective on shares of Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average price target of $247.50.

Nucor Price Performance

Shares of NYSE:NUE opened at $231.99 on Monday. The stock has a market cap of $52.83 billion, a PE ratio of 22.97, a PEG ratio of 0.62 and a beta of 1.87. The company’s fifty day moving average is $196.07 and its 200 day moving average is $177.78. Nucor Corporation has a 52 week low of $106.21 and a 52 week high of $235.45. The company has a quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30.

Nucor (NYSE:NUE) last issued its 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. The company had revenue of $9.50 billion for the quarter, compared to analysts’ expectations of $8.88 billion. Nucor had a net margin of 6.82% and a return on equity of 10.68%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 EPS. Research analysts anticipate that Nucor Corporation will post 14.58 earnings per share for the current year.

Nucor declared that its board has initiated a share repurchase 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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.