Legal & General Group Plc Has $269.18 Million Stock Holdings in Nucor Corporation $NUE

Legal & General Group Plc boosted its stake in shares of Nucor Corporation (NYSE:NUE) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,650,305 shares of the basic materials company’s stock after buying an additional 19,319 shares during the quarter. Legal & General Group Plc’s holdings in Nucor were worth $269,181,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NUE. Integrated Wealth Concepts LLC boosted its position in Nucor by 21.1% during the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company’s stock valued at $393,000 after purchasing an additional 568 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Nucor during the first quarter valued at approximately $259,000. Geneos Wealth Management Inc. boosted 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 valued at $41,000 after purchasing an additional 153 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Nucor during the second quarter valued at approximately $390,000. Finally, Cerity Partners LLC boosted its position in Nucor by 51.9% during the second quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company’s stock valued at $5,263,000 after purchasing an additional 13,877 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Nucor

In other news, EVP David A. Sumoski sold 33,068 shares of the stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $225.67, for a total transaction of $7,462,455.56. Following the transaction, the executive vice president owned 243,339 shares in the company, valued at approximately $54,914,312.13. This trade represents a 11.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel R. Needham sold 12,888 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $226.00, for a total value of $2,912,688.00. Following the transaction, the executive vice president owned 89,724 shares in the company, valued at approximately $20,277,624. This trade represents a 12.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 71,818 shares of company stock valued at $16,234,593 in the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Nucor Price Performance

Shares of NYSE NUE opened at $240.21 on Wednesday. The firm has a market cap of $54.71 billion, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 0.62 and a beta of 1.87. 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 Corporation has a 1-year low of $106.21 and a 1-year high of $240.43. The business’s 50 day moving average is $198.93 and its 200-day moving average is $179.07.

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 analysts’ consensus estimates of $2.82 by $0.41. The company had revenue of $9.50 billion for 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 firm’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.77 earnings per share. Equities research analysts predict that Nucor Corporation will post 14.58 earnings per share for the current year.

Nucor declared that its board has approved a share buyback program on Friday, February 20th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

NUE has been the subject of several recent research reports. Jefferies Financial Group increased their price target on Nucor from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Citigroup increased their price target on Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Morgan Stanley increased their price target on Nucor from $180.00 to $227.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Seaport Research Partners reaffirmed a “buy” rating and issued a $245.00 price objective on shares of Nucor in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. raised their price objective on Nucor from $212.00 to $240.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Two 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.