Cresset Asset Management LLC Has $17.19 Million Stake in Nucor Co. (NYSE:NUE)

Cresset Asset Management LLC increased its stake in shares of Nucor Co. (NYSE:NUEFree Report) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,455 shares of the basic materials company’s stock after acquiring an additional 5,488 shares during the period. Cresset Asset Management LLC’s holdings in Nucor were worth $17,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp grew its position 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 purchasing an additional 149,589 shares in the last quarter. Invesco Ltd. grew its position in Nucor by 7.6% in the third quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock valued at $353,794,000 after purchasing an additional 159,230 shares in the last quarter. Norges Bank bought a new position in Nucor in the fourth quarter valued at $377,631,000. Pacer Advisors Inc. grew its position in Nucor by 13.0% in the fourth quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock valued at $360,430,000 after purchasing an additional 237,752 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Nucor by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,499,893 shares of the basic materials company’s stock valued at $261,041,000 after purchasing an additional 36,304 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and raised their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Nucor from $190.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday. 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 research report on Wednesday, April 24th. Finally, Jefferies Financial Group began coverage on shares of Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Nucor has an average rating of “Hold” and an average price target of $191.50.

Read Our Latest Stock Analysis on NUE

Nucor Stock Performance

NYSE NUE opened at $157.31 on Tuesday. The firm has a 50-day moving average of $177.95 and a 200-day moving average of $178.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. The stock has a market cap of $37.72 billion, a PE ratio of 9.25 and a beta of 1.60. Nucor Co. has a 52-week low of $140.07 and a 52-week high of $203.00.

Nucor (NYSE:NUEGet Free Report) last posted 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 company had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.45 EPS. On average, sell-side analysts anticipate that Nucor Co. will post 12.57 EPS for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, June 28th. Nucor’s dividend payout ratio (DPR) is 12.71%.

Insiders Place Their Bets

In other Nucor news, insider Michael D. Keller sold 3,145 shares of Nucor stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Michael D. Keller sold 3,145 shares of the business’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 value of $609,092.15. Following the completion of the transaction, the insider now directly owns 24,873 shares in the company, valued at approximately $4,817,153.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Douglas J. Jellison sold 19,506 shares of the business’s 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 transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The disclosure for this sale can be found here. Insiders sold 32,651 shares of company stock worth $6,283,648 in the last quarter. 0.64% of the stock is currently owned by corporate insiders.

About Nucor

(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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