California State Teachers Retirement System lowered its position in Nucor Co. (NYSE:NUE - Free Report) by 16.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,957 shares of the basic materials company's stock after selling 56,960 shares during the quarter. California State Teachers Retirement System owned 0.12% of Nucor worth $33,024,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in NUE. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor in the 4th quarter valued at about $25,000. Crews Bank & Trust acquired a new stake in shares of Nucor in the 4th quarter valued at about $29,000. Putney Financial Group LLC acquired a new stake in shares of Nucor in the 4th quarter valued at about $29,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Nucor in the 4th quarter valued at about $33,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Nucor in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 76.48% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Argus set a $155.00 target price on shares of Nucor in a research note on Wednesday, March 5th. Morgan Stanley set a $164.00 target price on shares of Nucor in a research note on Monday, March 24th. UBS Group cut their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. lowered their price objective on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Finally, Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $158.89.
Get Our Latest Report on Nucor
Insiders Place Their Bets
In other news, CEO Leon J. Topalian sold 34,238 shares of the company'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 value of $4,115,065.22. Following the completion of the sale, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at approximately $19,590,128.67. This represents a 17.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by insiders.
Nucor Stock Performance
NYSE NUE traded up $0.36 on Friday, hitting $109.30. The stock had a trading volume of 3,371,202 shares, compared to its average volume of 2,147,878. Nucor Co. has a one year low of $97.59 and a one year high of $170.52. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The stock has a market cap of $25.22 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 0.96 and a beta of 1.73. The company's 50-day moving average is $114.02 and its two-hundred day moving average is $125.76.
Nucor (NYSE:NUE - Get Free Report) last posted 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 the consensus estimate of $7.25 billion. During the same quarter last year, the company posted $3.46 EPS. Nucor's revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts expect that Nucor Co. will post 7.64 earnings per share for the current year.
About Nucor
(
Free Report)
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.
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