Corient Private Wealth LLC Boosts Stock Position in Nucor Co. (NYSE:NUE)

Corient Private Wealth LLC boosted its holdings in shares of Nucor Co. (NYSE:NUE) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,955 shares of the basic materials company’s stock after acquiring an additional 3,653 shares during the period. Corient Private Wealth LLC’s holdings in Nucor were worth $14,437,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new position in shares of Nucor during the fourth quarter worth about $377,631,000. International Assets Investment Management LLC purchased a new stake in shares of Nucor in the 4th quarter worth about $108,747,000. Pacer Advisors Inc. increased its holdings in shares of Nucor by 13.0% during the 4th quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock worth $360,430,000 after buying an additional 237,752 shares during the last quarter. Invesco Ltd. lifted its position in shares of Nucor by 7.6% during the third quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock worth $353,794,000 after purchasing an additional 159,230 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Nucor by 3.7% in the third quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock valued at $652,851,000 after buying an additional 149,589 shares during the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Nucor

In related news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the completion of the transaction, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the transaction, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen C. Behr sold 10,000 shares of the stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the sale, the executive vice president now owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Insiders sold a total of 32,651 shares of company stock valued at $6,283,648 over the last ninety days. Insiders own 0.46% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a report on Wednesday, April 24th. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $240.00 in a report on Wednesday, March 13th. Finally, Jefferies Financial Group initiated coverage on Nucor in a research note on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $192.75.

Nucor Trading Down 0.2 %

NUE traded down $0.26 during trading hours on Friday, reaching $171.27. 1,056,141 shares of the company’s stock traded hands, compared to its average volume of 1,242,710. Nucor Co. has a 52-week low of $129.79 and a 52-week high of $203.00. The firm has a 50-day moving average price of $184.67 and a 200 day moving average price of $177.65. The firm has a market capitalization of $41.06 billion, a PE ratio of 10.07 and a beta of 1.65. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 22nd. The basic materials company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The firm had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a net margin of 12.40% and a return on equity of 19.62%. Nucor’s quarterly revenue was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.45 EPS. As a group, sell-side analysts predict that Nucor Co. will post 12.57 EPS for the current fiscal year.

Nucor 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.