State Street Corp Increases Position in Nucor Co. (NYSE:NUE)

State Street Corp increased its stake in Nucor Co. (NYSE:NUEGet Rating) by 2.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,803,098 shares of the basic materials company’s stock after purchasing an additional 377,102 shares during the quarter. State Street Corp owned 5.88% of Nucor worth $2,356,620,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Ethic Inc. purchased a new position in shares of Nucor in the 1st quarter valued at about $401,000. Engineers Gate Manager LP purchased a new position in shares of Nucor in the 1st quarter valued at about $492,000. Vident Investment Advisory LLC increased its holdings in shares of Nucor by 22.0% in the 1st quarter. Vident Investment Advisory LLC now owns 32,463 shares of the basic materials company’s stock valued at $4,828,000 after purchasing an additional 5,844 shares in the last quarter. Horizon Investments LLC increased its holdings in shares of Nucor by 2.6% in the 1st quarter. Horizon Investments LLC now owns 8,141 shares of the basic materials company’s stock valued at $1,210,000 after purchasing an additional 205 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of Nucor in the 1st quarter valued at about $4,038,000. Hedge funds and other institutional investors own 79.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Kenneth Rex Query sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total value of $708,200.00. Following the sale, the executive vice president now directly owns 76,100 shares of the company’s stock, valued at $10,778,804. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Kenneth Rex Query sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total value of $708,200.00. Following the sale, the executive vice president now directly owns 76,100 shares of the company’s stock, valued at $10,778,804. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen C. Behr sold 3,407 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $122.17, for a total transaction of $416,233.19. Following the completion of the sale, the executive vice president now directly owns 64,087 shares in the company, valued at $7,829,508.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,175 shares of company stock valued at $6,616,198. Insiders own 0.46% of the company’s stock.

Nucor Price Performance

Nucor stock opened at $143.56 on Monday. Nucor Co. has a 12-month low of $88.50 and a 12-month high of $187.90. The stock has a market capitalization of $37.58 billion, a P/E ratio of 4.41 and a beta of 1.39. The firm’s 50-day moving average is $128.86 and its two-hundred day moving average is $133.64. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.62 and a quick ratio of 1.39.

Nucor (NYSE:NUEGet Rating) last released its quarterly earnings results on Thursday, July 21st. The basic materials company reported $9.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.91 by $0.76. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The company had revenue of $11.79 billion for the quarter, compared to analysts’ expectations of $11.59 billion. During the same period last year, the company earned $5.04 EPS. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. Equities analysts predict that Nucor Co. will post 31.01 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on NUE shares. BMO Capital Markets lowered their price objective on shares of Nucor from $168.00 to $128.00 in a research note on Tuesday, May 17th. UBS Group set a $120.00 price objective on shares of Nucor in a research note on Monday, June 20th. The Goldman Sachs Group lowered their price objective on shares of Nucor from $148.00 to $130.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 31st. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 16th. Finally, Morgan Stanley lowered their price objective on shares of Nucor from $121.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, July 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Nucor has an average rating of “Hold” and an average target price of $133.50.

Nucor Company Profile

(Get Rating)

Nucor Corporation manufactures and sells steel and steel products. The company's 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; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

Featured Articles

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

Receive News & Ratings for Nucor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nucor and related companies with MarketBeat.com's FREE daily email newsletter.