Range Financial Group LLC Makes New Investment in Nucor Co. (NYSE:NUE)

Range Financial Group LLC purchased a new position in Nucor Co. (NYSE:NUEGet Rating) during the first quarter, HoldingsChannel.com reports. The fund purchased 14,605 shares of the basic materials company’s stock, valued at approximately $2,171,000. Nucor comprises about 1.4% of Range Financial Group LLC’s portfolio, making the stock its 9th largest holding.

A number of other large investors have also added to or reduced their stakes in the company. Rosenberg Matthew Hamilton grew its holdings in Nucor by 2.8% in the 1st quarter. Rosenberg Matthew Hamilton now owns 2,276 shares of the basic materials company’s stock worth $338,000 after acquiring an additional 63 shares during the last quarter. Grove Bank & Trust boosted its stake in shares of Nucor by 1.2% during the 1st quarter. Grove Bank & Trust now owns 5,641 shares of the basic materials company’s stock valued at $839,000 after purchasing an additional 65 shares in the last quarter. Mayflower Financial Advisors LLC boosted its stake in shares of Nucor by 3.0% during the 1st quarter. Mayflower Financial Advisors LLC now owns 2,223 shares of the basic materials company’s stock valued at $330,000 after purchasing an additional 65 shares in the last quarter. Advisor Partners LLC boosted its stake in shares of Nucor by 0.7% during the 1st quarter. Advisor Partners LLC now owns 11,380 shares of the basic materials company’s stock valued at $1,692,000 after purchasing an additional 78 shares in the last quarter. Finally, Woodard & Co. Asset Management Group Inc. ADV boosted its stake in shares of Nucor by 3.5% during the 1st quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 2,385 shares of the basic materials company’s stock valued at $355,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 79.07% of the company’s stock.

Insiders Place Their Bets

In other Nucor news, CEO Leon J. Topalian sold 48,768 shares of Nucor stock in a transaction dated 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 of the company’s stock, valued at $15,293,451.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Allen C. Behr sold 3,407 shares of Nucor stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $122.17, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Leon J. Topalian sold 48,768 shares of Nucor stock in a transaction that occurred on Friday, June 17th. The stock was sold at an average price of $112.61, for a total transaction of $5,491,764.48. Following the completion of the sale, the chief executive officer now owns 135,809 shares of the company’s stock, valued at $15,293,451.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 57,175 shares of company stock valued at $6,616,198. Insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Nucor to $145.00 in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 14th. UBS Group set a $120.00 target price on shares of Nucor in a research note on Monday, June 20th. Morgan Stanley cut their target price 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. Finally, The Goldman Sachs Group lowered their price target on shares of Nucor from $148.00 to $130.00 and set a “neutral” rating for the company in a research report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $136.00.

Nucor Stock Down 4.0 %

Shares of Nucor stock opened at $136.10 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.39 and a current ratio of 2.62. The stock has a market capitalization of $35.63 billion, a PE ratio of 4.18 and a beta of 1.39. Nucor Co. has a 52-week low of $88.50 and a 52-week high of $187.90. The company has a 50-day simple moving average of $130.21 and a two-hundred day simple moving average of $133.74.

Nucor (NYSE:NUEGet Rating) last issued its 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. The business had revenue of $11.79 billion during the quarter, compared to analysts’ expectations of $11.59 billion. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the previous year, the company earned $5.04 earnings per share. On average, analysts anticipate that Nucor Co. will post 31.01 EPS for the current fiscal year.

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.

See Also

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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