Raiffeisen Bank International AG Buys Shares of 6,554 Nucor Co. (NYSE:NUE)

Raiffeisen Bank International AG purchased a new stake in shares of Nucor Co. (NYSE:NUE - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 6,554 shares of the basic materials company's stock, valued at approximately $760,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Nucor in the 4th quarter worth about $398,077,000. First Trust Advisors LP lifted its stake in shares of Nucor by 24.6% in the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock worth $280,627,000 after acquiring an additional 474,274 shares during the period. Voya Investment Management LLC boosted its holdings in shares of Nucor by 528.6% in the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock valued at $59,235,000 after acquiring an additional 426,949 shares in the last quarter. Invesco Ltd. increased its stake in shares of Nucor by 18.7% during the fourth quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after acquiring an additional 384,205 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Nucor during the fourth quarter worth approximately $38,714,000. 76.48% of the stock is currently owned by institutional investors.

Nucor Trading Down 0.7%

Shares of NUE traded down $0.79 during midday trading on Tuesday, hitting $115.03. The stock had a trading volume of 1,197,377 shares, compared to its average volume of 2,110,004. Nucor Co. has a fifty-two week low of $97.59 and a fifty-two week high of $173.00. The business has a 50-day simple moving average of $117.38 and a two-hundred day simple moving average of $128.20. The firm has a market cap of $26.52 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a return on equity of 9.85% and a net margin of 6.60%. The firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the previous year, the business earned $3.46 earnings per share. The business's quarterly revenue was down 3.8% compared to the same quarter last year. As a group, equities analysts forecast that Nucor Co. will post 7.64 EPS for the current year.

Analyst Upgrades and Downgrades

NUE has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. StockNews.com cut shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Argus set a $155.00 price objective on shares of Nucor in a research note on Wednesday, March 5th. UBS Group raised shares of Nucor from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $156.00 to $160.00 in a research note on Monday, March 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $160.33.

Insider Buying and Selling

In related news, CEO Leon J. Topalian sold 34,238 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the sale, the chief executive officer now directly owns 162,993 shares in the company, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by corporate insiders.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The 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 structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.