Curat Global LLC Invests $363,000 in Nucor Co. (NYSE:NUE)

Curat Global LLC acquired a new position in Nucor Co. (NYSE:NUE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,015 shares of the basic materials company's stock, valued at approximately $363,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor in the fourth quarter worth $25,000. Putney Financial Group LLC bought a new stake in shares of Nucor in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC bought a new stake in shares of Nucor in the fourth quarter valued at approximately $41,000. Park Square Financial Group LLC bought a new stake in shares of Nucor in the fourth quarter valued at approximately $48,000. Finally, Beacon Capital Management LLC boosted its position in shares of Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock valued at $49,000 after acquiring an additional 94 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

Nucor stock traded up $2.96 during mid-day trading on Friday, hitting $121.71. 2,061,217 shares of the company were exchanged, compared to its average volume of 2,192,487. The business has a fifty day moving average of $113.79 and a 200 day moving average of $124.85. The company has a market capitalization of $28.08 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67. Nucor Co. has a 1-year low of $97.59 and a 1-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.

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

Insiders Place Their Bets

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the transaction, the chief executive officer now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NUE shares. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. The Goldman Sachs Group reduced their price objective on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Morgan Stanley set a $164.00 price objective on Nucor in a research report on Monday, March 24th. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Finally, Argus set a $155.00 target price on Nucor in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $157.22.

Nucor 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.