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Jan 06, 2024

7,500 Shares in Nucor Co. (NYSE:NUE) Bought by Black Swift Group LLC

Black Swift Group LLC purchased a new position in shares of Nucor Co. (NYSE:NUE

Black Swift Group LLC purchased a new position in shares of Nucor Co. (NYSE:NUE - Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,500 shares of the basic materials company's stock, valued at approximately $989,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Republic Investment Management Inc. grew its holdings in Nucor by 12.2% during the fourth quarter. First Republic Investment Management Inc. now owns 134,596 shares of the basic materials company's stock worth $17,741,000 after purchasing an additional 14,621 shares during the period. Brown Advisory Inc. grew its holdings in Nucor by 3.5% during the fourth quarter. Brown Advisory Inc. now owns 14,900 shares of the basic materials company's stock worth $1,964,000 after purchasing an additional 500 shares during the period. Oversea Chinese Banking CORP Ltd bought a new position in Nucor during the fourth quarter worth about $622,000. Johnson Financial Group Inc. lifted its position in Nucor by 4.5% during the fourth quarter. Johnson Financial Group Inc. now owns 8,785 shares of the basic materials company's stock worth $1,158,000 after acquiring an additional 379 shares during the last quarter. Finally, Northeast Financial Consultants Inc acquired a new stake in Nucor during the fourth quarter worth approximately $211,000. Institutional investors own 78.33% of the company's stock.

Several equities research analysts have issued reports on NUE shares. Credit Suisse Group raised their price objective on shares of Nucor from $140.00 to $156.00 and gave the stock an "outperform" rating in a research report on Friday, March 17th. UBS Group cut their price objective on shares of Nucor from $145.00 to $140.00 in a research report on Friday, May 5th. The Goldman Sachs Group raised their price objective on shares of Nucor from $144.00 to $161.00 and gave the stock a "neutral" rating in a research report on Friday, March 10th. JPMorgan Chase & Co. started coverage on shares of Nucor in a research report on Tuesday, May 23rd. They set an "underweight" rating and a $130.00 price objective for the company. Finally, Wolfe Research upgraded shares of Nucor from an "underperform" rating to a "peer perform" rating in a research report on Thursday, June 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $148.88.

NUE traded up $3.39 during trading on Wednesday, hitting $146.90. 813,661 shares of the stock traded hands, compared to its average volume of 1,784,648. Nucor Co. has a twelve month low of $100.13 and a twelve month high of $182.68. The company has a market cap of $36.90 billion, a price-to-earnings ratio of 5.76 and a beta of 1.56. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.74 and a quick ratio of 2.28. The business has a 50 day moving average price of $143.60 and a 200 day moving average price of $150.40.

Nucor (NYSE:NUE - Get Rating) last announced its quarterly earnings data on Thursday, April 20th. The basic materials company reported $4.45 EPS for the quarter, beating the consensus estimate of $3.81 by $0.64. Nucor had a net margin of 16.73% and a return on equity of 34.91%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.87 billion. During the same period in the previous year, the business earned $7.67 earnings per share. The company's revenue was down 17.0% on a year-over-year basis. Equities research analysts forecast that Nucor Co. will post 17 earnings per share for the current fiscal year.

Nucor declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 11th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the basic materials company to repurchase up to 11.6% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Nucor Corporation engages in manufacture and sale of steel and steel products. The company's Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products.

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