Woodline Partners LP acquired a new stake in Nucor Co. (NYSE:NUE - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,978 shares of the basic materials company's stock, valued at approximately $931,000.
Other hedge funds also recently added to or reduced their stakes in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Nucor during the fourth quarter worth $25,000. Crews Bank & Trust acquired a new stake in Nucor in the fourth quarter valued at $29,000. New Wave Wealth Advisors LLC acquired a new stake in Nucor in the fourth quarter valued at $33,000. Beacon Capital Management LLC increased its position in shares of Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after purchasing an additional 94 shares in the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in shares of Nucor during the fourth quarter worth about $50,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.
Nucor Stock Performance
NUE stock traded up $0.28 during trading on Friday, reaching $109.22. 1,471,761 shares of the company's stock were exchanged, compared to its average volume of 2,136,977. Nucor Co. has a 1-year low of $97.59 and a 1-year high of $170.52. The firm has a market cap of $25.20 billion, a PE ratio of 12.98, a P/E/G ratio of 0.96 and a beta of 1.73. The company's fifty day moving average price is $114.38 and its 200-day moving average price is $126.07. 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 released its quarterly earnings data 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). The company had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. The business's revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.46 earnings per share. On average, research analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Wall Street Zen cut Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. The Goldman Sachs Group cut their price target on Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a report on Monday, April 7th. Argus set a $155.00 price target on Nucor in a research note on Wednesday, March 5th. UBS Group decreased their target price on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $158.89.
Get Our Latest Stock Report on Nucor
Insider Activity at Nucor
In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the firm's stock in a transaction dated 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 directly owns 162,993 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.46% of the company's stock.
About Nucor
(
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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