Nucor Co. (NYSE:NUE) Shares Acquired by Man Group plc

Man Group plc increased its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,609 shares of the basic materials company's stock after acquiring an additional 5,896 shares during the period. Man Group plc's holdings in Nucor were worth $13,259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NUE. AdvisorNet Financial Inc grew its position in Nucor by 47.2% in the 4th quarter. AdvisorNet Financial Inc now owns 758 shares of the basic materials company's stock worth $88,000 after purchasing an additional 243 shares during the period. Park Avenue Securities LLC boosted its holdings in shares of Nucor by 1.5% during the 4th quarter. Park Avenue Securities LLC now owns 7,088 shares of the basic materials company's stock valued at $827,000 after purchasing an additional 103 shares during the last quarter. Butensky & Cohen Financial Security Inc. grew its holdings in Nucor by 5.4% during the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 26,875 shares of the basic materials company's stock valued at $3,137,000 after buying an additional 1,374 shares in the last quarter. Trinity Street Asset Management LLP raised its stake in Nucor by 6.6% during the fourth quarter. Trinity Street Asset Management LLP now owns 168,425 shares of the basic materials company's stock valued at $19,657,000 after purchasing an additional 10,390 shares in the last quarter. Finally, BTS Asset Management Inc. bought a new position in shares of Nucor in the 4th quarter valued at about $255,000. Institutional investors own 76.48% of the company's stock.

Wall Street Analysts Forecast Growth

NUE has been the topic of a number of recent analyst reports. UBS Group raised shares of Nucor from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $156.00 to $160.00 in a research report on Monday, March 24th. Argus set a $155.00 target price on Nucor in a research note on Wednesday, March 5th. The Goldman Sachs Group decreased their price objective on shares of 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 target price on shares of Nucor in a report on Monday, March 24th. Finally, StockNews.com cut Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $160.33.

Insider Activity

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 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 directly owns 162,993 shares in the company, valued at approximately $19,590,128.67. This represents a 17.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company's stock.

Nucor Stock Performance

NYSE NUE traded down $0.79 during trading hours on Tuesday, hitting $115.03. The company had a trading volume of 1,197,377 shares, compared to its average volume of 2,110,004. The business has a 50 day moving average of $117.38 and a 200-day moving average of $128.20. The company has a market cap of $26.52 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73. 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 quick ratio of 1.48 and a current ratio of 2.51.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly 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). The firm had revenue of $7.83 billion for the quarter, compared to analysts' expectations of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. The company's quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.46 EPS. As a group, equities research analysts expect that Nucor Co. will post 7.64 EPS 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.