State Farm Discloses 8.10% Stake in Nucor Corp (NUE)
Ticker: NUE · Form: SC 13G/A · Filed: Feb 12, 2024
Sentiment: bullish
Topics: institutional-ownership, amendment, steel-industry
TL;DR
**State Farm owns 8.10% of Nucor, a big institutional vote of confidence.**
AI Summary
State Farm Mutual Automobile Insurance Company, along with its affiliate State Farm Life Insurance Company, filed an amended SC 13G/A on February 12, 2024, disclosing their ownership in Nucor Corp (NUE) as of December 31, 2023. State Farm Mutual beneficially owns 19,901,809 shares, representing 8.10% of Nucor's common stock, while State Farm Life owns 1,000 shares, or less than 0.1%. This filing indicates a significant institutional stake in Nucor, which could be seen as a vote of confidence for current and prospective shareholders.
Why It Matters
This filing shows a major institutional investor, State Farm, holds a substantial position in Nucor, which can influence stock stability and investor perception.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional ownership, generally reducing volatility risk.
Analyst Insight
Investors should view this significant institutional stake by State Farm as a positive signal, suggesting long-term confidence in Nucor's value. This could be a factor to consider when evaluating Nucor for long-term portfolio inclusion.
Key Numbers
- 19,901,809 — Shares owned by State Farm Mutual (Represents a significant institutional stake in Nucor Corp.)
- 8.10 % — Percentage of Nucor stock owned by State Farm Mutual (Indicates a substantial ownership position by a major institutional investor.)
- 1,000 — Shares owned by State Farm Life (A smaller, but still notable, stake by an affiliate.)
Key Players & Entities
- State Farm Mutual Automobile Insurance Company (company) — reporting person beneficially owning Nucor shares
- NUCOR CORP (company) — the issuer whose securities are being reported
- State Farm Life Insurance Company (company) — affiliated reporting person
- 19,901,809 (dollar_amount) — aggregate shares beneficially owned by State Farm Mutual
- 8.10 % (dollar_amount) — percentage of class represented by State Farm Mutual's ownership
- December 31, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- Nucor's stock price will experience increased stability due to significant institutional ownership. (NUCOR CORP) — medium confidence, target: 2024-12-31
FAQ
What is the primary purpose of this SC 13G/A filing?
This SC 13G/A filing, an amendment (No. 39), is filed by State Farm Mutual Automobile Insurance Company to report its beneficial ownership of NUCOR CORP common stock as of December 31, 2023, under Rule 13d-1(b) of the Securities Exchange Act of 1934.
How many shares of NUCOR CORP does State Farm Mutual Automobile Insurance Company beneficially own, and what percentage of the class does this represent?
State Farm Mutual Automobile Insurance Company beneficially owns an aggregate of 19,901,809 shares of NUCOR CORP common stock, which represents 8.10% of the class, as stated in Row 9 and Row 11 of Schedule 13G Page 2.
Is State Farm Life Insurance Company also a reporting person in this filing, and if so, what is their ownership?
Yes, State Farm Life Insurance Company is also a reporting person. They beneficially own 1,000 shares of NUCOR CORP common stock, representing less than 0.1% of the class, as detailed on Schedule 13G Page 3.
What is the CUSIP number for NUCOR CORP's Common Stock mentioned in the filing?
The CUSIP number for NUCOR CORP's Common Stock is 670346105, as listed on Schedule 13G Page 1 and 2.
What was the 'Date of Event which Requires Filing of Statement' for this SC 13G/A?
The 'Date of Event which Requires Filing of Statement' was December 31, 2023, as indicated on Schedule 13G Page 1.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 12, 2024 regarding NUCOR CORP (NUE).