Williams Jones Wealth Management LLC. reduced its stake in shares of Nucor Co. (NYSE:NUE – Get Rating) by 17.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 10,479 shares of the basic materials company’s stock after selling 2,185 shares during the period. Williams Jones Wealth Management LLC.’s holdings in Nucor were worth $1,558,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NUE. Bailard Inc. grew its holdings in shares of Nucor by 2.0% in the first quarter. Bailard Inc. now owns 26,694 shares of the basic materials company’s stock valued at $3,968,000 after acquiring an additional 534 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Nucor by 15.3% in the first quarter. IFM Investors Pty Ltd now owns 43,770 shares of the basic materials company’s stock valued at $6,506,000 after acquiring an additional 5,820 shares in the last quarter. Howland Capital Management LLC bought a new position in shares of Nucor in the first quarter valued at approximately $204,000. Zacks Investment Management grew its holdings in shares of Nucor by 5.3% in the fourth quarter. Zacks Investment Management now owns 26,310 shares of the basic materials company’s stock valued at $3,004,000 after acquiring an additional 1,327 shares in the last quarter. Finally, Chicago Capital LLC bought a new position in shares of Nucor in the first quarter valued at approximately $235,000. 79.07% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reduced their target price on Nucor from $148.00 to $130.00 and set a “neutral” rating for the company in a report on Tuesday, May 31st. UBS Group set a $120.00 price objective on Nucor in a report on Monday, June 20th. BMO Capital Markets reduced their price objective on Nucor from $168.00 to $128.00 in a report on Tuesday, May 17th. JPMorgan Chase & Co. reduced their price objective on Nucor from $146.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday, June 14th. Finally, StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, August 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $133.50.
Nucor Trading Up 3.0 %
Nucor (NYSE:NUE – Get Rating) last issued its quarterly earnings data on Thursday, July 21st. The basic materials company reported $9.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.91 by $0.76. Nucor had a return on equity of 57.78% and a net margin of 21.03%. The company had revenue of $11.79 billion for the quarter, compared to the consensus estimate of $11.59 billion. During the same quarter last year, the business posted $5.04 earnings per share. The firm’s revenue was up 34.2% compared to the same quarter last year. As a group, analysts expect that Nucor Co. will post 31.01 EPS for the current year.
Insider Buying and Selling
In related news, EVP Allen C. Behr sold 3,407 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $122.17, for a total value of $416,233.19. Following the sale, the executive vice president now owns 64,087 shares in the company, valued at $7,829,508.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Allen C. Behr sold 3,407 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $122.17, for a total value of $416,233.19. Following the transaction, the executive vice president now owns 64,087 shares of the company’s stock, valued at $7,829,508.79. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Leon J. Topalian sold 48,768 shares of the stock in a transaction on Friday, June 17th. The shares were sold at an average price of $112.61, for a total value of $5,491,764.48. Following the completion of the transaction, the chief executive officer now directly owns 135,809 shares in the company, valued at approximately $15,293,451.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,175 shares of company stock worth $6,616,198. Corporate insiders own 0.46% of the company’s stock.
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.
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