Forsta AP Fonden Has $7.14 Million Stock Holdings in Nucor Corporation $NUE

Forsta AP Fonden decreased its position in shares of Nucor Corporation (NYSE:NUE) by 6.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,800 shares of the basic materials company’s stock after selling 3,200 shares during the quarter. Forsta AP Fonden’s holdings in Nucor were worth $7,144,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NUE. Integrated Wealth Concepts LLC lifted its holdings in Nucor by 21.1% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock worth $393,000 after buying an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Nucor during the 1st quarter worth $259,000. Geneos Wealth Management Inc. lifted 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 worth $41,000 after buying an additional 153 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Nucor during the 2nd quarter worth $390,000. Finally, Cerity Partners LLC lifted its holdings in Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock worth $5,263,000 after buying an additional 13,877 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Randy J. Spicer sold 2,500 shares of Nucor stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the sale, the executive vice president owned 20,510 shares of the company’s stock, valued at $4,614,750. This trade represents a 10.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 62,871 shares in the company, valued at $14,213,875.68. This represents a 13.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings raised Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 14th. Citigroup increased their price target on Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. increased their price target on Nucor from $212.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. UBS Group downgraded Nucor from a “buy” rating to a “neutral” rating and increased their price target for the company from $190.00 to $224.00 in a research note on Tuesday, April 28th. Finally, KeyCorp assumed coverage on Nucor in a research note on Wednesday, March 25th. They issued a “sector weight” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and an average target price of $247.50.

Nucor Stock Performance

Shares of Nucor stock opened at $251.30 on Tuesday. The company has a market capitalization of $57.23 billion, a PE ratio of 24.88, a PEG ratio of 0.66 and a beta of 1.88. Nucor Corporation has a 12 month low of $115.35 and a 12 month high of $252.22. The company has a current ratio of 2.90, a quick ratio of 1.55 and a debt-to-equity ratio of 0.30. The stock’s fifty day simple moving average is $205.92 and its 200 day simple moving average is $182.04.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, April 27th. The basic materials company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.82 by $0.41. The business had revenue of $9.50 billion for the quarter, compared to the consensus estimate of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The firm’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.77 EPS. On average, research analysts predict that Nucor Corporation will post 14.84 EPS for the current year.

Nucor announced that its board has initiated 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 reacquire up to 9.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About Nucor

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.