Keybank National Association OH lowered its position in shares of Nucor Co. (NYSE:NUE) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,952 shares of the basic materials company’s stock after selling 532 shares during the period. Keybank National Association OH’s holdings in Nucor were worth $1,573,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of NUE. Oregon Public Employees Retirement Fund grew its stake in shares of Nucor by 5,010.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,498,507 shares of the basic materials company’s stock worth $87,000 after purchasing an additional 4,410,481 shares in the last quarter. Norges Bank acquired a new position in shares of Nucor during the fourth quarter worth $176,620,000. Millennium Management LLC grew its stake in shares of Nucor by 269.4% during the fourth quarter. Millennium Management LLC now owns 2,073,142 shares of the basic materials company’s stock worth $107,409,000 after purchasing an additional 1,511,854 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Nucor by 4.4% during the third quarter. Vanguard Group Inc now owns 28,321,567 shares of the basic materials company’s stock worth $1,797,003,000 after purchasing an additional 1,186,099 shares in the last quarter. Finally, PGGM Investments grew its stake in shares of Nucor by 365.9% during the first quarter. PGGM Investments now owns 1,039,812 shares of the basic materials company’s stock worth $60,673,000 after purchasing an additional 816,634 shares in the last quarter. Hedge funds and other institutional investors own 77.39% of the company’s stock.
A number of equities analysts recently commented on the stock. KeyCorp lowered their target price on shares of Nucor from $70.00 to $66.00 and set an “overweight” rating for the company in a research note on Wednesday. UBS Group set a $59.00 price objective on shares of Nucor and gave the company a “hold” rating in a research note on Wednesday, May 8th. Standpoint Research upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. Longbow Research downgraded shares of Nucor from a “buy” rating to a “neutral” rating in a research note on Monday, March 11th. Finally, ValuEngine downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $69.25.
In other Nucor news, insider Raymond S. Napolitan, Jr. sold 10,000 shares of Nucor stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $58.28, for a total value of $582,800.00. Following the transaction, the insider now owns 96,778 shares in the company, valued at approximately $5,640,221.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman John J. Ferriola sold 65,061 shares of Nucor stock in a transaction on Monday, April 29th. The shares were sold at an average price of $56.20, for a total transaction of $3,656,428.20. Following the completion of the transaction, the chairman now owns 403,735 shares in the company, valued at approximately $22,689,907. The disclosure for this sale can be found here. Insiders sold 76,314 shares of company stock worth $4,310,637 over the last quarter. Company insiders own 0.96% of the company’s stock.
NYSE NUE opened at $51.16 on Friday. 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 1 year low of $49.79 and a 1 year high of $68.84. The firm has a market capitalization of $15.59 billion, a price-to-earnings ratio of 6.71, a P/E/G ratio of 0.78 and a beta of 1.46.
Nucor (NYSE:NUE) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.05. Nucor had a net margin of 9.80% and a return on equity of 24.86%. The company had revenue of $6.10 billion during the quarter, compared to the consensus estimate of $6.05 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. Nucor’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, sell-side analysts anticipate that Nucor Co. will post 5.74 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece was published by Macon Daily and is the sole property of of Macon Daily. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://macondaily.com/2019/05/26/keybank-national-association-oh-has-1-57-million-position-in-nucor-co-nue.html.
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.
Featured Story: Cash Flow Analysis in Stock Selection
Want to see what other hedge funds are holding NUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nucor Co. (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.