Mackenzie Financial Corp Grows Stake in Nucor Co. (NYSE:NUE)

Mackenzie Financial Corp boosted its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 16.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,748 shares of the basic materials company's stock after acquiring an additional 3,517 shares during the period. Mackenzie Financial Corp's holdings in Nucor were worth $2,888,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Forum Financial Management LP raised its stake in Nucor by 6.6% in the fourth quarter. Forum Financial Management LP now owns 4,382 shares of the basic materials company's stock valued at $511,000 after purchasing an additional 271 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Nucor by 6.7% during the 4th quarter. Toronto Dominion Bank now owns 125,280 shares of the basic materials company's stock worth $14,621,000 after acquiring an additional 7,834 shares during the last quarter. Fourth Dimension Wealth LLC purchased a new position in Nucor in the fourth quarter worth $41,000. Vise Technologies Inc. increased its stake in Nucor by 73.9% in the fourth quarter. Vise Technologies Inc. now owns 7,928 shares of the basic materials company's stock valued at $925,000 after acquiring an additional 3,370 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its position in Nucor by 34.9% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 6,344 shares of the basic materials company's stock valued at $741,000 after purchasing an additional 1,642 shares in the last quarter. Institutional investors 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 that occurred on 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 sale, the chief executive officer now directly owns 162,993 shares in the company, valued at $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on NUE shares. Argus set a $155.00 price objective on Nucor in a research report on Wednesday, March 5th. The Goldman Sachs Group lowered their price objective on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. UBS Group decreased their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their price target 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. One 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 company. Based on data from MarketBeat, Nucor presently has an average rating of "Moderate Buy" and a consensus target price of $158.89.

Nucor Trading Up 0.3%

Shares of NYSE:NUE traded up $0.36 during midday trading on Friday, hitting $109.30. 3,371,202 shares of the stock traded hands, compared to its average volume of 2,146,528. 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 business's 50 day moving average is $114.02 and its two-hundred day moving average is $125.76. The stock has a market capitalization of $25.22 billion, a PE ratio of 13.00, a P/E/G ratio of 0.96 and a beta of 1.73. Nucor Co. has a one year low of $97.59 and a one year high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion for 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%. The company's revenue for the quarter was down 3.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.46 EPS. As a group, research analysts forecast 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.