Nucor Corporation $NUE Shares Acquired by Harbour Investments Inc.

Harbour Investments Inc. grew its holdings in Nucor Corporation (NYSE:NUE) by 149.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,079 shares of the basic materials company’s stock after buying an additional 3,040 shares during the period. Harbour Investments Inc.’s holdings in Nucor were worth $828,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Stance Capital LLC acquired a new stake in Nucor during the third quarter worth about $25,000. AXS Investments LLC acquired a new stake in Nucor during the third quarter worth about $37,000. Vision Financial Markets LLC increased 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 last quarter. Caitlin John LLC acquired a new stake in Nucor during the third quarter worth about $41,000. Finally, Geneos Wealth Management Inc. increased its position in Nucor by 81.8% during the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 153 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Trading Up 0.3%

Shares of NUE stock opened at $250.06 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.90 and a quick ratio of 1.55. The firm has a market cap of $56.95 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 0.66 and a beta of 1.87. The company has a 50-day moving average of $204.13 and a two-hundred day moving average of $181.02. Nucor Corporation has a 1-year low of $106.21 and a 1-year high of $251.39.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 27th. The basic materials company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.82 by $0.41. The company 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%. Nucor’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.77 earnings per share. On average, analysts predict that Nucor Corporation will post 14.84 EPS for the current year.

Nucor declared that its board has approved a stock buyback plan on Friday, February 20th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to buy up to 9.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 12,888 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $226.00, for a total transaction of $2,912,688.00. Following the completion of the transaction, the executive vice president owned 89,724 shares of the company’s stock, valued at $20,277,624. This trade represents a 12.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Noah C. Hanners sold 6,472 shares of the 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 directly owned 50,377 shares of the company’s stock, valued at approximately $11,410,390.50. This trade represents a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 71,818 shares of company stock valued at $16,234,593 over the last quarter. 0.62% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NUE has been the subject of several recent analyst reports. The Goldman Sachs Group raised their price objective on shares of Nucor from $240.00 to $260.00 in a research report on Friday, May 1st. BNP Paribas Exane raised their price objective on shares of Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research report on Monday, May 4th. Seaport Research Partners restated a “buy” rating and set a $245.00 price objective on shares of Nucor in a research report on Thursday, April 30th. JPMorgan Chase & Co. raised their price objective on shares of Nucor from $212.00 to $240.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company raised their price objective on shares of Nucor from $213.00 to $244.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $247.50.

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.