Texas Bank & Trust Co purchased a new stake in shares of Nucor Co. (NYSE:NUE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,220 shares of the basic materials company's stock, valued at approximately $376,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of NUE. Norges Bank acquired a new position in shares of Nucor in the 4th quarter worth $398,077,000. First Trust Advisors LP increased its stake in Nucor by 24.6% in the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company's stock valued at $280,627,000 after buying an additional 474,274 shares during the period. Voya Investment Management LLC raised its holdings in shares of Nucor by 528.6% during the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock worth $59,235,000 after acquiring an additional 426,949 shares in the last quarter. Invesco Ltd. grew its stake in shares of 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 buying an additional 384,205 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Nucor during the fourth quarter valued at about $38,714,000. 76.48% of the stock is owned by institutional investors and hedge funds.
Nucor Stock Down 1.0%
NUE stock traded down $1.07 during mid-day trading on Thursday, hitting $110.65. 1,526,812 shares of the company were exchanged, compared to its average volume of 2,111,896. The firm has a market cap of $25.53 billion, a P/E ratio of 13.16, a P/E/G 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. The firm's 50 day simple moving average is $116.68 and its 200 day simple moving average is $128.00.
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 (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 firm had revenue of $7.83 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same period in the prior year, the business posted $3.46 EPS. The firm's quarterly revenue was down 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Nucor Co. will post 7.64 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. UBS Group raised shares of Nucor from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $156.00 to $160.00 in a report on Monday, March 24th. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Argus set a $155.00 price objective on Nucor in a research report on Wednesday, March 5th. Finally, Jefferies Financial Group boosted their price target on shares of Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Nucor presently has a consensus rating of "Moderate Buy" and an average target price of $160.33.
Read Our Latest Stock Analysis on Nucor
Insider Activity at Nucor
In related news, CEO Leon J. Topalian sold 34,238 shares of the firm's stock in a transaction dated 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 directly owns 162,993 shares in the company, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.71% of the company's stock.
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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