GAMMA Investing LLC Acquires 502,961 Shares of Nucor Co. (NYSE:NUE)

GAMMA Investing LLC boosted its stake in Nucor Co. (NYSE:NUE - Free Report) by 17,785.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 505,789 shares of the basic materials company's stock after buying an additional 502,961 shares during the period. GAMMA Investing LLC owned 0.22% of Nucor worth $60,867,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in Nucor during the fourth quarter valued at about $25,000. Putney Financial Group LLC acquired a new position in Nucor in the fourth quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new position in shares of Nucor in the fourth quarter valued at $41,000. Park Square Financial Group LLC acquired a new stake in shares of Nucor during the 4th quarter valued at $48,000. Finally, Beacon Capital Management LLC boosted its stake in shares of Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after acquiring an additional 94 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Wall Street Analyst Weigh In

NUE has been the topic of several analyst reports. The Goldman Sachs Group dropped their target price 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. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $140.00 to $145.00 in a research note on Monday. Morgan Stanley set a $164.00 price target on Nucor in a research note on Monday, March 24th. Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Finally, Argus set a $155.00 price objective on shares of 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 assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.22.

Insider Buying and Selling

In other news, CEO Leon J. Topalian sold 34,238 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 162,993 shares in the company, valued at approximately $19,590,128.67. The trade was a 17.36% decrease in their position. 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 insiders.

Nucor Stock Performance

Shares of Nucor stock traded down $3.19 during trading on Thursday, reaching $118.67. The company's stock had a trading volume of 2,429,335 shares, compared to its average volume of 2,184,815. Nucor Co. has a one year low of $97.59 and a one year high of $170.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The firm has a market cap of $27.38 billion, a price-to-earnings ratio of 14.11, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73. The business's fifty day moving average price is $113.78 and its 200-day moving average price is $125.21.

Nucor (NYSE:NUE - Get Free Report) last released 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). Nucor had a net margin of 6.60% and a return on equity of 9.85%. The business had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same period last year, the business earned $3.46 EPS. The business's quarterly revenue was down 3.8% compared to the same quarter last year. As a group, equities research analysts predict that Nucor Co. will post 7.64 earnings per share for the current 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.