NBC Securities Inc. Grows Position in Nucor Co. (NYSE:NUE)

NBC Securities Inc. increased its position in shares of Nucor Co. (NYSE:NUE) by 132,300.0% in the first quarter, Holdings Channel.com reports. The firm owned 1,324 shares of the basic materials company’s stock after purchasing an additional 1,323 shares during the quarter. NBC Securities Inc.’s holdings in Nucor were worth $159,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Nucor by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company’s stock valued at $701,255,000 after buying an additional 105,309 shares during the period. Norges Bank bought a new stake in shares of Nucor in the 4th quarter valued at about $398,077,000. Invesco Ltd. raised its holdings in shares of Nucor by 18.7% in the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock valued at $284,220,000 after purchasing an additional 384,205 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Nucor by 24.6% in the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock valued at $280,627,000 after purchasing an additional 474,274 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Nucor by 4.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company’s stock valued at $196,127,000 after purchasing an additional 68,252 shares in the last quarter. 76.48% of the stock is owned by hedge funds and other institutional investors.

Nucor Stock Up 0.8%

NUE stock opened at $122.53 on Tuesday. The firm’s fifty day simple moving average is $113.77 and its 200-day simple moving average is $124.31. The company has a market capitalization of $28.27 billion, a P/E ratio of 14.57, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. Nucor Co. has a 12 month low of $97.59 and a 12 month high of $170.52.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a net margin of 6.60% and a return on equity of 9.85%. The business had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.25 billion. During the same period last year, the company earned $3.46 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Nucor Co. will post 7.64 earnings per share for the current year.

Wall Street Analyst Weigh In

NUE has been the subject of several recent research reports. The Goldman Sachs Group reduced their price target on shares of Nucor from $175.00 to $169.00 and set a “buy” rating for the company in a report on Monday, April 7th. Morgan Stanley set a $164.00 price target on shares of Nucor in a report on Monday, March 24th. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. BMO Capital Markets upgraded shares of Nucor from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $140.00 to $145.00 in a report on Monday, June 2nd. Finally, UBS Group reduced their price target on shares of Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.22.

Insider Buying and Selling

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the transaction, the chief executive officer now directly owns 162,993 shares of the company’s stock, valued at $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.46% of the stock is currently owned by insiders.

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.