Janus Henderson Group PLC Boosts Stock Position in Nucor Co. (NYSE:NUE)

Janus Henderson Group PLC raised its stake in Nucor Co. (NYSE:NUE - Free Report) by 137.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,801 shares of the basic materials company's stock after purchasing an additional 47,403 shares during the period. Janus Henderson Group PLC's holdings in Nucor were worth $9,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in NUE. Canal Capital Management LLC increased its holdings in shares of Nucor by 2.5% during the fourth quarter. Canal Capital Management LLC now owns 3,075 shares of the basic materials company's stock valued at $359,000 after acquiring an additional 75 shares in the last quarter. Horrell Capital Management Inc. raised its position in Nucor by 0.3% during the fourth quarter. Horrell Capital Management Inc. now owns 26,657 shares of the basic materials company's stock worth $3,111,000 after acquiring an additional 76 shares during the period. TCI Wealth Advisors Inc. raised its position in Nucor by 4.4% during the fourth quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company's stock worth $252,000 after acquiring an additional 91 shares during the period. Jessup Wealth Management Inc lifted its holdings in Nucor by 0.9% during the fourth quarter. Jessup Wealth Management Inc now owns 10,528 shares of the basic materials company's stock valued at $1,229,000 after purchasing an additional 93 shares in the last quarter. Finally, Beacon Capital Management LLC grew its position in shares of Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock valued at $49,000 after purchasing an additional 94 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NUE has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price target on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Argus set a $155.00 target price on Nucor in a research report on Wednesday, March 5th. StockNews.com cut Nucor from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reduced 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. Finally, Morgan Stanley set a $164.00 target price on shares of Nucor in a research note 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $160.33.

Nucor Trading Down 2.4%

Shares of NUE traded down $2.80 during mid-day trading on Wednesday, reaching $112.20. The stock had a trading volume of 1,013,354 shares, compared to its average volume of 2,106,204. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The business's fifty day moving average is $117.09 and its 200 day moving average is $128.11. Nucor Co. has a 52-week low of $97.59 and a 52-week high of $173.00. The firm has a market cap of $25.89 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 0.96 and a beta of 1.73.

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 (EPS) 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 firm had revenue of $7.83 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the prior year, the business earned $3.46 EPS. The firm's quarterly revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts predict that Nucor Co. will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling at Nucor

In other news, CEO Leon J. Topalian sold 34,238 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the transaction, the chief executive officer now directly owns 162,993 shares in the company, valued at approximately $19,590,128.67. This 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. Company insiders own 0.71% of the company's stock.

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.