Whipplewood Advisors LLC Buys 2,544 Shares of Nucor Co. (NYSE:NUE)

Whipplewood Advisors LLC lifted its position in shares of Nucor Co. (NYSE:NUE - Free Report) by 18,171.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,558 shares of the basic materials company's stock after buying an additional 2,544 shares during the quarter. Whipplewood Advisors LLC's holdings in Nucor were worth $308,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank bought a new position in Nucor in the fourth quarter worth approximately $398,077,000. GAMMA Investing LLC raised its position in shares of Nucor by 17,785.0% during the first quarter. GAMMA Investing LLC now owns 505,789 shares of the basic materials company's stock worth $60,867,000 after purchasing an additional 502,961 shares during the period. First Trust Advisors LP lifted its holdings in shares of 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 worth $280,627,000 after purchasing an additional 474,274 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Nucor by 528.6% in the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock worth $59,235,000 after purchasing an additional 426,949 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Nucor by 18.7% during the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company's stock valued at $284,220,000 after purchasing an additional 384,205 shares in the last quarter. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Nucor

In related news, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction dated Thursday, May 1st. The stock was 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 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.46% of the company's stock.

Nucor Stock Performance

Shares of NYSE:NUE traded down $3.19 during midday trading on Thursday, reaching $118.67. The company had a trading volume of 2,429,926 shares, compared to its average volume of 2,184,826. The stock has a market cap of $27.38 billion, a P/E ratio of 14.11, a P/E/G ratio of 0.96 and a beta of 1.73. The company's 50 day moving average price is $113.78 and its 200 day moving average price is $125.21. 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 52-week low of $97.59 and a 52-week high of $170.52.

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). The company had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. The firm's revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.46 earnings per share. As a group, sell-side analysts anticipate that Nucor Co. will post 7.64 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NUE. UBS Group reduced their price objective on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a report on Thursday, May 29th. Argus set a $155.00 price target on Nucor in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on Nucor from $156.00 to $140.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Morgan Stanley set a $164.00 target price on Nucor in a report on Monday, March 24th. Finally, The Goldman Sachs Group lowered their price target on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $157.22.

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.