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Apr 21, 2023

1,600 Shares in Nucor Co. (NYSE:NUE) Acquired by Northeast Financial Consultants Inc

Northeast Financial Consultants Inc bought a new position in Nucor Co. (NYSE:NUE

Northeast Financial Consultants Inc bought a new position in Nucor Co. (NYSE:NUE - Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,600 shares of the basic materials company's stock, valued at approximately $211,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NUE. Baird Financial Group Inc. increased its position in Nucor by 2.4% in the 4th quarter. Baird Financial Group Inc. now owns 222,392 shares of the basic materials company's stock worth $29,314,000 after buying an additional 5,283 shares during the period. BOKF NA increased its position in Nucor by 2.3% in the 4th quarter. BOKF NA now owns 18,136 shares of the basic materials company's stock worth $2,391,000 after buying an additional 408 shares during the period. CIBC Asset Management Inc increased its position in Nucor by 2.2% in the 4th quarter. CIBC Asset Management Inc now owns 38,526 shares of the basic materials company's stock worth $5,078,000 after buying an additional 836 shares during the period. Schechter Investment Advisors LLC increased its position in Nucor by 6.0% in the 4th quarter. Schechter Investment Advisors LLC now owns 2,004 shares of the basic materials company's stock worth $264,000 after buying an additional 113 shares during the period. Finally, Panagora Asset Management Inc. increased its position in Nucor by 50.9% in the 4th quarter. Panagora Asset Management Inc. now owns 36,783 shares of the basic materials company's stock worth $4,848,000 after buying an additional 12,400 shares during the period. 78.33% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE NUE traded up $3.99 during midday trading on Wednesday, hitting $147.50. 580,741 shares of the company's stock were exchanged, compared to its average volume of 1,782,904. The company's 50 day moving average price is $143.60 and its 200 day moving average price is $150.40. The firm has a market capitalization of $37.05 billion, a PE ratio of 5.76 and a beta of 1.56. Nucor Co. has a 12 month low of $100.13 and a 12 month high of $182.68. The company has a quick ratio of 2.28, a current ratio of 3.74 and a debt-to-equity ratio of 0.33.

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

Nucor announced that its board has approved a share repurchase plan on Thursday, May 11th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 11.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

A number of analysts have recently issued reports on NUE shares. StockNews.com started coverage on Nucor in a research report on Thursday, May 18th. They set a "hold" rating on the stock. The Goldman Sachs Group boosted their price target on Nucor from $144.00 to $161.00 and gave the company a "neutral" rating in a research note on Friday, March 10th. UBS Group decreased their target price on Nucor from $145.00 to $140.00 in a report on Friday, May 5th. Wolfe Research upgraded Nucor from an "underperform" rating to a "peer perform" rating in a report on Thursday, June 1st. Finally, JPMorgan Chase & Co. began coverage on Nucor in a report on Tuesday, May 23rd. They issued an "underweight" rating and a $130.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $148.88.

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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