iSAM Funds UK Ltd Buys New Holdings in Nucor Co. (NYSE:NUE)

iSAM Funds UK Ltd bought a new stake in Nucor Co. (NYSE:NUE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,294 shares of the basic materials company's stock, valued at approximately $501,000.

Several other hedge funds have also recently added to or reduced their stakes in NUE. Norges Bank acquired a new stake in Nucor in the fourth quarter valued at approximately $398,077,000. First Trust Advisors LP raised its holdings in 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 valued at $280,627,000 after acquiring an additional 474,274 shares in the last quarter. Voya Investment Management LLC raised its holdings in Nucor by 528.6% in the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock valued at $59,235,000 after acquiring an additional 426,949 shares in the last quarter. Invesco Ltd. raised its holdings in Nucor by 18.7% in the fourth quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after acquiring an additional 384,205 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Nucor in the fourth quarter valued at approximately $38,714,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Activity at Nucor

In related 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 value of $4,115,065.22. Following the transaction, the chief executive officer now directly owns 162,993 shares in the company, valued at $19,590,128.67. This trade represents a 17.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.46% of the stock is currently owned by insiders.

Nucor Stock Performance

NYSE:NUE opened at $115.72 on Tuesday. The firm's fifty day moving average price is $117.38 and its 200 day moving average price is $128.20. Nucor Co. has a 1-year low of $97.59 and a 1-year high of $173.00. 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 $26.68 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73.

Nucor (NYSE:NUE - Get Free Report) last posted 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). Nucor had a net margin of 6.60% and a return on equity of 9.85%. The firm had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same quarter last year, the business earned $3.46 earnings per share. The business's quarterly revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts expect that Nucor Co. will post 7.64 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Jefferies Financial Group increased their price target on shares of Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a research note on Wednesday, January 29th. Morgan Stanley set a $164.00 price target on shares of Nucor in a research note on Monday, March 24th. StockNews.com lowered shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Argus set a $155.00 price target on shares of Nucor in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. lowered their target price 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $160.33.

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.

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