Berman Capital Advisors LLC boosted its position in shares of Nucor Co. (NYSE:NUE) by 37.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 677 shares of the basic materials company’s stock after acquiring an additional 186 shares during the quarter. Berman Capital Advisors LLC’s holdings in Nucor were worth $39,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Bank purchased a new position in shares of Nucor during the 4th quarter valued at about $26,000. Lindbrook Capital LLC purchased a new position in shares of Nucor during the 4th quarter valued at about $27,000. Ropes Wealth Advisors LLC purchased a new position in shares of Nucor during the 1st quarter valued at about $34,000. Laurel Wealth Advisors LLC purchased a new position in shares of Nucor during the 4th quarter valued at about $38,000. Finally, Capital Investment Advisory Services LLC purchased a new position in shares of Nucor during the 4th quarter valued at about $39,000. 77.39% of the stock is owned by institutional investors.
NYSE NUE opened at $51.16 on Friday. The company has a quick ratio of 1.64, a current ratio of 3.37 and a debt-to-equity ratio of 0.40. Nucor Co. has a fifty-two week low of $49.79 and a fifty-two week high of $68.84. The stock has a market cap of $15.59 billion, a price-to-earnings ratio of 6.71, a P/E/G ratio of 0.78 and a beta of 1.46.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.05. Nucor had a return on equity of 24.86% and a net margin of 9.80%. The firm had revenue of $6.10 billion during the quarter, compared to analyst estimates of $6.05 billion. During the same quarter in the previous year, the business earned $1.17 EPS. Nucor’s revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts forecast that Nucor Co. will post 5.74 EPS for the current year.
In related news, EVP Leon J. Topalian sold 1,253 shares of Nucor stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $56.99, for a total value of $71,408.47. Following the completion of the transaction, the executive vice president now owns 46,593 shares in the company, valued at approximately $2,655,335.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Raymond S. Napolitan, Jr. sold 10,000 shares of Nucor stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $58.28, for a total value of $582,800.00. Following the completion of the transaction, the insider now owns 96,778 shares of the company’s stock, valued at approximately $5,640,221.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,314 shares of company stock valued at $4,310,637. 0.96% of the stock is owned by company insiders.
A number of equities analysts have weighed in on the company. Longbow Research lowered Nucor from a “buy” rating to a “neutral” rating in a research note on Monday, March 11th. Zacks Investment Research lowered Nucor from a “hold” rating to a “strong sell” rating in a research note on Friday, February 1st. Standpoint Research upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Monday, March 18th. ValuEngine lowered Nucor from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Finally, UBS Group set a $59.00 price objective on Nucor and gave the company a “hold” rating in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $69.25.
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Nucor Company Profile
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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 products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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