Two Sigma Investments LP Acquires New Shares in Nucor Co. (NYSE:NUE)

Two Sigma Investments LP acquired a new stake in shares of Nucor Co. (NYSE:NUE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 177,478 shares of the basic materials company's stock, valued at approximately $20,713,000. Two Sigma Investments LP owned 0.08% of Nucor at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Nucor in the fourth quarter worth approximately $25,000. Crews Bank & Trust acquired a new position in Nucor in the fourth quarter worth approximately $29,000. New Wave Wealth Advisors LLC acquired a new position in Nucor in the fourth quarter worth approximately $33,000. Beacon Capital Management LLC grew its position in Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after buying an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new position in Nucor in the fourth quarter worth approximately $50,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Analyst Ratings Changes

NUE has been the topic of several recent research reports. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group decreased their price target on shares of Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Finally, Morgan Stanley set a $164.00 price objective on shares of Nucor in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $160.33.

Insider Buying and Selling at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction 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 owns 162,993 shares of the company's stock, valued at $19,590,128.67. This trade represents a 17.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.71% of the company's stock.

Nucor Trading Down 2.1%

Nucor stock traded down $2.34 during midday trading on Friday, reaching $108.35. The stock had a trading volume of 3,904,493 shares, compared to its average volume of 2,132,947. The firm's fifty day simple moving average is $115.87 and its two-hundred day simple moving average is $127.53. Nucor Co. has a twelve month low of $97.59 and a twelve month high of $171.26. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The firm has a market cap of $25.00 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.96 and a beta of 1.73.

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

Nucor Company Profile

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.