Nucor Corporation $NUE Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its holdings in Nucor Corporation (NYSE:NUE) by 118.6% in the second quarter, Holdings Channel reports. The fund owned 16,102 shares of the basic materials company’s stock after buying an additional 8,735 shares during the period. Concurrent Investment Advisors LLC’s holdings in Nucor were worth $3,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Transamerica Financial Advisors LLC acquired a new stake in shares of Nucor in the second quarter valued at approximately $25,000. Stance Capital LLC purchased a new stake in Nucor in the 3rd quarter valued at $25,000. Manning & Napier Advisors LLC purchased a new stake in Nucor in the 2nd quarter valued at $27,000. Strive Financial Group LLC acquired a new stake in shares of Nucor in the 4th quarter worth $27,000. Finally, Bell Investment Advisors Inc purchased a new position in shares of Nucor during the 2nd quarter worth $28,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NUE shares. Wall Street Zen upgraded shares of Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. BMO Capital Markets raised their price target on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Argus lifted their price target on shares of Nucor from $200.00 to $262.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Wells Fargo & Company decreased their price objective on Nucor from $297.00 to $285.00 and set an “overweight” rating on the stock in a report on Monday, August 24th. Finally, Bank of America lowered their price objective on Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $272.38.

Nucor Stock Down 0.0%

Shares of NYSE NUE opened at $260.98 on Tuesday. The stock has a market cap of $59.21 billion, a P/E ratio of 20.81, a PEG ratio of 0.97 and a beta of 1.87. The business’s fifty day simple moving average is $248.81 and its 200-day simple moving average is $222.15. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, topping the consensus estimate of $4.46 by $0.38. The company had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.Nucor’s revenue was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.60 EPS. As a group, equities analysts predict that Nucor Corporation will post 17.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Stephen Laxton sold 3,968 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares of the company’s stock, valued at $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas Batterbee sold 4,000 shares of Nucor stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This represents a 19.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is currently owned by corporate insiders.

About Nucor

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value?added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.