Royal Bank of Canada boosted its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 64.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 653,394 shares of the basic materials company's stock after purchasing an additional 254,871 shares during the period. Royal Bank of Canada owned 0.28% of Nucor worth $76,258,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Nucor in the fourth quarter worth about $25,000. Crews Bank & Trust bought a new stake in shares of Nucor during the fourth quarter worth approximately $29,000. New Wave Wealth Advisors LLC acquired a new position in Nucor in the fourth quarter valued at approximately $33,000. Beacon Capital Management LLC boosted its stake in Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock valued at $49,000 after acquiring an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in Nucor in the fourth quarter valued at approximately $50,000. 76.48% of the stock is owned by institutional investors.
Insider Activity at Nucor
In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the 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 completion of the sale, the chief executive officer now owns 162,993 shares in the company, valued at $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is owned by insiders.
Wall Street Analyst Weigh In
NUE has been the topic of a number of analyst reports. Wall Street Zen downgraded Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group dropped their price objective on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. Jefferies Financial Group increased their target price on 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 target price on Nucor in a research report on Monday, March 24th. Finally, UBS Group upgraded shares of Nucor from a "neutral" rating to a "buy" rating and increased their price target for the company from $156.00 to $160.00 in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.33.
Read Our Latest Analysis on Nucor
Nucor Stock Down 2.1%
NYSE NUE traded down $2.34 during trading hours on Monday, reaching $108.35. 3,904,493 shares of the company's stock were exchanged, compared to its average volume of 2,132,947. Nucor Co. has a one year low of $97.59 and a one year high of $171.26. 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 company's 50-day moving average is $115.87 and its two-hundred day moving average is $127.01. The company has a market capitalization of $25.00 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73.
Nucor (NYSE:NUE - Get Free Report) last announced its earnings results 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 return on equity of 9.85% and a net margin of 6.60%. The company had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same period in the previous year, the company posted $3.46 earnings per share. Nucor's revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.
Nucor Profile
(
Free Report)
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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