Royal Bank of Canada Has $76.26 Million Stake in Nucor Co. (NYSE:NUE)

Royal Bank of Canada boosted its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 64.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 653,394 shares of the basic materials company's stock after buying 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 have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Nucor during the 4th quarter worth approximately $398,077,000. First Trust Advisors LP increased its holdings in shares of Nucor by 24.6% during the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock worth $280,627,000 after buying an additional 474,274 shares during the last quarter. Voya Investment Management LLC increased its holdings in Nucor by 528.6% in the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock valued at $59,235,000 after purchasing an additional 426,949 shares in the last quarter. Invesco Ltd. increased its holdings in Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after purchasing an additional 384,205 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Nucor in the 4th quarter valued at about $38,714,000. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Activity at Nucor

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 sale, the chief executive officer now directly owns 162,993 shares of the company's stock, 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 Securities & Exchange Commission, which can be accessed through this link. 0.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

NUE has been the topic of several research analyst reports. Jefferies Financial Group increased their price target on shares of Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Argus set a $155.00 price target on Nucor in a report on Wednesday, March 5th. JPMorgan Chase & Co. cut their price target on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. UBS Group upgraded shares of Nucor from a "neutral" rating to a "buy" rating and raised their price objective for the company from $156.00 to $160.00 in a research note on Monday, March 24th. Finally, Morgan Stanley set a $164.00 price target on shares of Nucor in a research report on Monday, March 24th. One 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $160.33.

Nucor Stock Down 2.1%

Shares of NUE stock traded down $2.34 on Friday, hitting $108.35. The company's stock had a trading volume of 3,904,493 shares, compared to its average volume of 2,128,640. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. Nucor Co. has a fifty-two week low of $97.59 and a fifty-two week high of $173.00. The firm's fifty day moving average price is $115.87 and its 200-day moving average price is $127.53. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 0.96 and a beta of 1.73.

Nucor (NYSE:NUE - Get Free Report) last released 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 firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period in the prior year, the firm earned $3.46 EPS. The firm's revenue was down 3.8% on a year-over-year basis. Research analysts anticipate 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.