Nucor Co. (NYSE:NUE) Stock Position Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 37.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,598 shares of the basic materials company's stock after purchasing an additional 22,575 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Nucor were worth $9,757,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor in the fourth quarter worth about $25,000. Crews Bank & Trust acquired a new stake in Nucor in the 4th quarter valued at about $29,000. Putney Financial Group LLC acquired a new position in shares of Nucor in the 4th quarter valued at $29,000. New Wave Wealth Advisors LLC bought a new position in Nucor during the 4th quarter worth approximately $33,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Nucor during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 76.48% of the company's stock.

Analysts Set New Price Targets

NUE has been the topic of several research analyst reports. Morgan Stanley set a $164.00 price objective on shares of Nucor in a research report on Monday, March 24th. UBS Group cut their price target on Nucor from $153.00 to $147.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. The Goldman Sachs Group decreased their target price on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, 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 report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $157.22.

Nucor Stock Down 0.3%

NUE traded down $0.32 during trading on Wednesday, hitting $122.00. The stock had a trading volume of 2,248,743 shares, compared to its average volume of 2,183,843. Nucor Co. has a twelve month low of $97.59 and a twelve month high of $170.52. 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 company has a market capitalization of $28.15 billion, a PE ratio of 14.51, a PEG ratio of 0.96 and a beta of 1.73. The stock has a 50 day simple moving average of $113.78 and a two-hundred day simple moving average of $125.21.

Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. The business's revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.46 earnings per share. On average, research analysts predict that Nucor Co. will post 7.64 earnings per share for the current year.

Insider Activity at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the firm's 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 completion of the transaction, the chief executive officer now owns 162,993 shares of the company's stock, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

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.