Nucor Co. (NYSE:NUE) Shares Acquired by First Trust Advisors LP

First Trust Advisors LP increased its holdings in Nucor Co. (NYSE:NUEFree Report) by 6.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,367,209 shares of the basic materials company’s stock after acquiring an additional 85,475 shares during the quarter. First Trust Advisors LP owned approximately 0.56% of Nucor worth $237,949,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Compagnie Lombard Odier SCmA acquired a new position in Nucor in the 4th quarter valued at $3,481,000. Nomura Asset Management Co. Ltd. increased its stake in Nucor by 6.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 262,385 shares of the basic materials company’s stock valued at $45,665,000 after buying an additional 15,058 shares during the period. AIA Group Ltd increased its stake in Nucor by 53.2% in the 4th quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after buying an additional 4,592 shares during the period. Sapient Capital LLC acquired a new position in Nucor in the 4th quarter valued at $1,230,000. Finally, abrdn plc increased its stake in Nucor by 41.7% in the 4th quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock valued at $26,932,000 after buying an additional 45,521 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on NUE shares. BMO Capital Markets decreased their target price on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research 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. Jefferies Financial Group started coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. 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. Finally, Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $180.00 to $240.00 in a research report on Wednesday, March 13th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Nucor presently has a consensus rating of “Hold” and a consensus price target of $192.75.

Get Our Latest Report on Nucor

Insider Activity

In other news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the transaction, the insider now owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the sale, the executive vice president now owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total transaction of $609,092.15. Following the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at approximately $4,817,153.91. 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 in the last 90 days. 0.46% of the stock is currently owned by insiders.

Nucor Price Performance

NYSE:NUE opened at $161.69 on Thursday. The firm has a market cap of $38.77 billion, a price-to-earnings ratio of 9.51 and a beta of 1.60. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average is $180.23 and its two-hundred day moving average is $178.52. Nucor Co. has a 12-month low of $138.90 and a 12-month high of $203.00.

Nucor (NYSE:NUEGet Free Report) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (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 revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter last year, the company posted $4.45 earnings per share. Research analysts expect that Nucor Co. will post 12.57 EPS for the current year.

Nucor Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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