Nucor Corporation $NUE Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC trimmed its stake in shares of Nucor Corporation (NYSE:NUE) by 1.7% during the fourth quarter, Holdings Channel reports. The firm owned 159,673 shares of the basic materials company’s stock after selling 2,819 shares during the period. Brandywine Global Investment Management LLC’s holdings in Nucor were worth $26,044,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NUE. Norges Bank acquired a new stake in Nucor in the 4th quarter valued at approximately $609,002,000. AQR Capital Management LLC increased its position in Nucor by 580.9% in the 2nd quarter. AQR Capital Management LLC now owns 653,845 shares of the basic materials company’s stock valued at $84,699,000 after acquiring an additional 557,819 shares during the period. Capital World Investors increased its position in Nucor by 20.1% in the 3rd quarter. Capital World Investors now owns 3,042,761 shares of the basic materials company’s stock valued at $412,081,000 after acquiring an additional 509,019 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Nucor by 169.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 779,940 shares of the basic materials company’s stock valued at $127,216,000 after acquiring an additional 489,950 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Nucor by 27.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,780,423 shares of the basic materials company’s stock valued at $290,405,000 after acquiring an additional 383,952 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on NUE. Wells Fargo & Company raised their target price on Nucor from $244.00 to $292.00 and gave the company an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on Nucor from $212.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group raised their target price on Nucor from $240.00 to $260.00 in a research report on Friday, May 1st. Jefferies Financial Group raised their target price on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Finally, Citigroup raised their target price on Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Two equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $255.67.

Nucor Stock Performance

NUE opened at $253.38 on Tuesday. The firm 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 quick ratio of 1.55, a current ratio of 2.90 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $215.40 and a 200-day simple moving average of $185.90. Nucor Corporation has a fifty-two week low of $115.66 and a fifty-two week high of $264.67.

Nucor (NYSE:NUE) last released its quarterly earnings data 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 business had revenue of $9.50 billion during the quarter, compared to analyst estimates of $8.88 billion. Nucor had a return on equity of 10.68% and a net margin of 6.82%.The company’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company posted $0.77 EPS. As a group, equities analysts predict that Nucor Corporation will post 14.84 EPS for the current fiscal year.

Nucor announced that its Board of Directors has approved a stock buyback program 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 programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Nucor

In other news, EVP Bradley Ford sold 2,240 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $232.13, for a total transaction of $519,971.20. Following the completion of the sale, the executive vice president directly owned 43,649 shares of the company’s stock, valued at $10,132,242.37. This trade represents a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Randy J. Spicer sold 2,500 shares of the firm’s stock in a transaction on 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 directly owned 20,510 shares of the company’s stock, valued at approximately $4,614,750. This represents a 10.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 82,378 shares of company stock worth $18,963,930. 0.62% of the stock is owned by insiders.

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.