Siemens Fonds Invest GmbH increased its stake in shares of Nucor Co. (NYSE:NUE - Free Report) by 305.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,386 shares of the basic materials company's stock after buying an additional 9,332 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Nucor were worth $1,446,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor in the 4th quarter valued at $25,000. Crews Bank & Trust acquired a new stake in shares of Nucor during the 4th quarter valued at $29,000. Putney Financial Group LLC acquired a new stake in shares of Nucor during the 4th quarter valued at $29,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Nucor during the 4th quarter valued at $33,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Nucor during the 4th quarter valued at $41,000. Institutional investors and hedge funds own 76.48% of the company's stock.
Insider Activity
In related news, CEO Leon J. Topalian sold 34,238 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 162,993 shares in the company, valued at $19,590,128.67. The trade was a 17.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several brokerages have commented on NUE. JPMorgan Chase & Co. cut their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Morgan Stanley set a $164.00 target price on Nucor in a report on Monday, March 24th. UBS Group cut their target price on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a report on Thursday. The Goldman Sachs Group cut their target price on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $158.89.
View Our Latest Stock Analysis on Nucor
Nucor Price Performance
NUE stock traded up $0.36 during mid-day trading on Friday, hitting $109.30. 3,371,202 shares of the stock were exchanged, compared to its average volume of 2,146,528. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The business has a fifty day moving average price of $114.02 and a 200 day moving average price of $125.44. Nucor Co. has a 12 month low of $97.59 and a 12 month high of $170.52. The stock has a market capitalization of $25.22 billion, a price-to-earnings ratio of 13.00, a PEG 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 net margin of 6.60% and a return on equity of 9.85%. The company had revenue of $7.83 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same period last year, the firm posted $3.46 EPS. The company's revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that Nucor Co. will post 7.64 EPS for the current year.
Nucor Company Profile
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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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