Vivaldi Capital Management LP Makes New Investment in Nucor Co. (NYSE:NUE)

Vivaldi Capital Management LP purchased a new stake in Nucor Co. (NYSE:NUE - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 41,826 shares of the basic materials company's stock, valued at approximately $5,096,000.

A number of other institutional investors have also made changes to their positions in NUE. Norges Bank bought a new position in Nucor during the 4th quarter worth $398,077,000. First Trust Advisors LP lifted its holdings in shares of Nucor by 24.6% in the fourth 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 lifted its holdings in shares of Nucor by 528.6% in the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock valued at $59,235,000 after buying an additional 426,949 shares during the period. Invesco Ltd. lifted its holdings in shares of Nucor by 18.7% in the fourth 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 during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Nucor in the fourth quarter valued at $38,714,000. 76.48% of the stock is currently owned by institutional investors.

Insider Transactions at Nucor

In related news, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 162,993 shares in the company, 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 Securities & Exchange Commission, which is available through this link. 0.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley set a $164.00 price objective on Nucor in a report on Monday, March 24th. Argus set a $155.00 target price on Nucor in a report on Wednesday, March 5th. Jefferies Financial Group upped their target price on Nucor from $125.00 to $135.00 and gave the company a "hold" rating in a report on Wednesday, January 29th. UBS Group raised Nucor from a "neutral" rating to a "buy" rating and upped their target price for the company from $156.00 to $160.00 in a report on Monday, March 24th. Finally, The Goldman Sachs Group reduced their target price on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.33.

Nucor Stock Down 2.1%

NUE stock 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 2,128,640. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. Nucor Co. has a 1-year low of $97.59 and a 1-year high of $173.00. The company has a fifty day moving average of $115.87 and a 200 day moving average of $127.53. The stock has a market capitalization of $25.00 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 0.96 and a beta of 1.73.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $7.25 billion. During the same period in the previous year, the company earned $3.46 earnings per share. The business's revenue for the quarter was down 3.8% on a year-over-year basis. On average, equities analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal 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.