Marble Wealth LLC Acquires New Shares in Nucor Corporation $NUE

Marble Wealth LLC acquired a new stake in Nucor Corporation (NYSE:NUE) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 3,240 shares of the basic materials company’s stock, valued at approximately $529,000.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Nucor by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock valued at $4,633,554,000 after purchasing an additional 144,038 shares during the period. Norges Bank bought a new position in Nucor in the 4th quarter valued at $609,002,000. Capital World Investors boosted its holdings 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 purchasing an additional 509,019 shares during the period. Nordea Investment Management AB boosted its holdings in Nucor by 11.1% in 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 purchasing an additional 210,577 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings 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 purchasing an additional 383,952 shares during the period. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Michael D. Keller sold 4,554 shares of Nucor stock in a transaction on Monday, May 4th. The shares were sold at an average price of $225.86, for a total value of $1,028,566.44. Following the transaction, the insider owned 16,834 shares in the company, valued at $3,802,127.24. This trade represents a 21.29% 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, EVP Allen C. Behr sold 10,096 shares of Nucor stock in a transaction on Monday, May 4th. The stock was sold at an average price of $226.08, for a total transaction of $2,282,503.68. Following the completion of the transaction, the executive vice president owned 62,871 shares in the company, valued at approximately $14,213,875.68. The trade was a 13.84% 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 Upgrades and Downgrades

Several brokerages have commented on NUE. Argus raised their price target on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a report on Friday, May 15th. Bank of America raised their price target on shares of Nucor from $190.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Citigroup raised their price target on shares of Nucor from $180.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Wall Street Zen raised shares of Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, UBS Group downgraded shares of Nucor from a “buy” rating to a “neutral” rating and raised their price target for the company from $190.00 to $224.00 in a report on Tuesday, April 28th. Two equities research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $251.67.

Nucor Price Performance

Shares of NYSE:NUE opened at $258.28 on Thursday. The stock has a market cap of $58.82 billion, a PE ratio of 25.57, a PEG ratio of 0.68 and a beta of 1.88. The company’s fifty day moving average is $209.87 and its 200 day moving average is $183.61. Nucor Corporation has a 52 week low of $115.66 and a 52 week high of $261.47. 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 14.84 earnings per share for the current year.

Nucor declared that its Board of Directors has approved a share repurchase program on Friday, February 20th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 9.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are 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.