UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Holdings in Nucor Co. (NYSE:NUE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in Nucor Co. (NYSE:NUE - Free Report) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,425,051 shares of the basic materials company's stock after selling 53,866 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.61% of Nucor worth $166,318,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Nucor by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company's stock valued at $701,255,000 after purchasing an additional 105,309 shares during the last quarter. Norges Bank acquired a new position in Nucor in the 4th quarter valued at about $398,077,000. Invesco Ltd. increased its position 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 acquiring an additional 384,205 shares during the period. First Trust Advisors LP raised its stake in 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 valued at $280,627,000 after acquiring an additional 474,274 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Nucor by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company's stock worth $196,127,000 after acquiring an additional 68,252 shares during the period. Hedge funds and other institutional investors own 76.48% of the company's stock.

Wall Street Analyst Weigh In

NUE has been the topic of a number of recent analyst reports. 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. JPMorgan Chase & Co. dropped their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Morgan Stanley set a $164.00 target price on Nucor in a research note on Monday, March 24th. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Finally, UBS Group raised Nucor from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $156.00 to $160.00 in a report on Monday, March 24th. One 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 stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $160.33.

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 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 of the company's stock, valued at $19,590,128.67. This represents a 17.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.71% of the company's stock.

Nucor Price Performance

NYSE NUE traded down $2.34 during mid-day trading on Friday, hitting $108.35. The stock had a trading volume of 3,904,493 shares, compared to its average volume of 2,132,947. The company has a 50 day simple moving average of $115.87 and a 200 day simple moving average of $127.25. The company has a market cap 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 Co. has a 52-week low of $97.59 and a 52-week high of $171.26. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly 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 firm had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same quarter in the prior year, the business earned $3.46 EPS. The company's quarterly revenue was down 3.8% compared to the same quarter last year. Equities analysts forecast that Nucor Co. will post 7.64 EPS for the current fiscal year.

About Nucor

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.