Rhumbline Advisers Grows Stock Holdings in Nucor Co. (NYSE:NUE)

Rhumbline Advisers grew its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 2.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 437,692 shares of the basic materials company's stock after purchasing an additional 9,497 shares during the period. Rhumbline Advisers owned approximately 0.19% of Nucor worth $52,672,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Nucor during the fourth quarter valued at approximately $25,000. Putney Financial Group LLC purchased a new position in shares of Nucor during the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC purchased a new position in shares of Nucor during the fourth quarter valued at approximately $41,000. Park Square Financial Group LLC purchased a new position in shares of Nucor during the fourth quarter valued at approximately $48,000. Finally, Beacon Capital Management LLC lifted its holdings in shares of Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 94 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Performance

Shares of NUE stock traded down $3.19 during mid-day trading on Thursday, reaching $118.67. 2,429,926 shares of the company's stock traded hands, compared to its average volume of 2,184,826. Nucor Co. has a 12 month low of $97.59 and a 12 month high of $170.52. The firm has a 50 day moving average price of $113.78 and a two-hundred day moving average price of $125.21. 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 capitalization of $27.38 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73.

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 (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 for the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the previous year, the firm earned $3.46 EPS. The company's revenue was down 3.8% on a year-over-year basis. On average, research analysts forecast that Nucor Co. will post 7.64 EPS for the current year.

Insider Activity

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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.46% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on NUE shares. Wall Street Zen downgraded shares of Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. UBS Group reduced their price target on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. JPMorgan Chase & Co. reduced 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. Finally, The Goldman Sachs Group reduced their price target 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Nucor has an average rating of "Moderate Buy" and a consensus target price of $157.22.

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.