Hudson Valley Investment Advisors Inc. ADV Has $3.72 Million Stock Holdings in Nucor Co. (NYSE:NUE)

Hudson Valley Investment Advisors Inc. ADV lessened its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 7.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,929 shares of the basic materials company's stock after selling 2,410 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV's holdings in Nucor were worth $3,722,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in NUE. Norges Bank acquired a new position in shares of Nucor during the fourth quarter valued at $398,077,000. GAMMA Investing LLC increased its holdings in shares of Nucor by 17,785.0% in the first quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock worth $60,867,000 after acquiring an additional 502,961 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Nucor by 24.6% in the fourth 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 in the last quarter. Voya Investment Management LLC increased 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 worth $59,235,000 after acquiring an additional 426,949 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Nucor by 18.7% in the fourth quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock worth $284,220,000 after acquiring an additional 384,205 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Buying and Selling at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $120.19, for a total value of $4,115,065.22. Following the sale, 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 filing with the SEC, which is accessible through this link. Corporate insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NUE. UBS Group decreased their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and increased their price target for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. Morgan Stanley set a $164.00 price target on Nucor in a research report on Monday, March 24th. Argus set a $155.00 price target on Nucor in a research report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $157.22.

Nucor Trading Up 2.5%

Shares of NUE stock opened at $121.71 on Friday. The firm has a market capitalization of $28.08 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.96 and a beta of 1.67. Nucor Co. has a twelve month low of $97.59 and a twelve month 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's fifty day simple moving average is $113.79 and its 200 day simple moving average is $124.85.

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

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.

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