Hartford Investment Management Co. grew its position in shares of Nucor Co. (NYSE:NUE) by 10.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 50,245 shares of the basic materials company’s stock after acquiring an additional 4,795 shares during the period. Hartford Investment Management Co.’s holdings in Nucor were worth $2,932,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of NUE. Mackenzie Financial Corp purchased a new stake in shares of Nucor in the 3rd quarter worth approximately $586,000. Kentucky Retirement Systems purchased a new stake in shares of Nucor in the 3rd quarter worth approximately $1,402,000. Teachers Advisors LLC grew its stake in shares of Nucor by 12.5% in the 3rd quarter. Teachers Advisors LLC now owns 728,441 shares of the basic materials company’s stock worth $46,220,000 after buying an additional 80,736 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Nucor by 3.6% in the 3rd quarter. Nordea Investment Management AB now owns 95,420 shares of the basic materials company’s stock worth $6,054,000 after buying an additional 3,346 shares during the last quarter. Finally, Csenge Advisory Group purchased a new stake in shares of Nucor in the 3rd quarter worth approximately $149,000. Hedge funds and other institutional investors own 77.39% of the company’s stock.
Several research firms recently weighed in on NUE. KeyCorp cut their price target on Nucor from $70.00 to $66.00 and set an “overweight” rating on the stock in a research note on Wednesday. UBS Group set a $59.00 price objective on Nucor and gave the company a “hold” rating in a research report on Wednesday, May 8th. Standpoint Research raised Nucor from a “hold” rating to a “buy” rating in a research report on Monday, March 18th. Longbow Research cut Nucor from a “buy” rating to a “neutral” rating in a research report on Monday, March 11th. Finally, ValuEngine cut Nucor from a “hold” rating to a “sell” rating in a research report on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the stock. Nucor has a consensus rating of “Buy” and a consensus target price of $69.25.
Shares of NYSE NUE traded down $0.23 during midday trading on Friday, hitting $51.16. 1,452,673 shares of the stock traded hands, compared to its average volume of 2,213,731. The stock has a market capitalization of $15.80 billion, a price-to-earnings ratio of 6.71, a PEG ratio of 0.78 and a beta of 1.46. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.37 and a quick ratio of 1.64. Nucor Co. has a one year low of $49.79 and a one year high of $68.84.
Nucor (NYSE:NUE) last released its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.05. The firm had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $6.05 billion. Nucor had a return on equity of 24.86% and a net margin of 9.80%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.17 EPS. Equities research analysts anticipate that Nucor Co. will post 5.74 EPS for the current year.
In other news, Chairman John J. Ferriola sold 65,061 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the transaction, the chairman now directly owns 403,735 shares of the company’s stock, valued at approximately $22,689,907. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Leon J. Topalian sold 1,253 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $56.99, for a total value of $71,408.47. Following the transaction, the executive vice president now directly owns 46,593 shares in the company, valued at $2,655,335.07. The disclosure for this sale can be found here. Insiders have sold a total of 76,314 shares of company stock worth $4,310,637 over the last three months. Insiders own 0.96% of the company’s stock.
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Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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