Czech National Bank Buys 2,998 Shares of Nucor Co. (NYSE:NUE)

Czech National Bank increased its stake in Nucor Co. (NYSE:NUE) by 5.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,911 shares of the basic materials company’s stock after purchasing an additional 2,998 shares during the quarter. Czech National Bank’s holdings in Nucor were worth $6,488,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers raised its holdings in Nucor by 2.2% during the first quarter. Rhumbline Advisers now owns 437,692 shares of the basic materials company’s stock valued at $52,672,000 after acquiring an additional 9,497 shares during the period. Rothschild Investment LLC raised its holdings in Nucor by 5.1% during the first quarter. Rothschild Investment LLC now owns 41,439 shares of the basic materials company’s stock valued at $4,987,000 after acquiring an additional 2,000 shares during the period. Welch Group LLC raised its holdings in Nucor by 16.3% during the first quarter. Welch Group LLC now owns 2,676 shares of the basic materials company’s stock valued at $326,000 after acquiring an additional 376 shares during the period. Parallel Advisors LLC raised its holdings in Nucor by 12.6% during the first quarter. Parallel Advisors LLC now owns 2,682 shares of the basic materials company’s stock valued at $323,000 after acquiring an additional 300 shares during the period. Finally, Tompkins Financial Corp raised its holdings in Nucor by 800.0% during the first quarter. Tompkins Financial Corp now owns 450 shares of the basic materials company’s stock valued at $54,000 after acquiring an additional 400 shares during the period. 76.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the transaction, the chief executive officer now owns 162,993 shares in the company, valued at $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on NUE shares. Argus set a $155.00 price target on Nucor in a report on Wednesday, March 5th. JPMorgan Chase & Co. decreased their price target on Nucor from $156.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. UBS Group reduced their target price on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a report on Thursday, May 29th. Wall Street Zen cut Nucor from a “hold” rating to a “sell” rating in a report on Wednesday, April 30th. Finally, BMO Capital Markets raised Nucor from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $140.00 to $145.00 in a report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $157.22.

Nucor Trading Up 10.2%

NUE opened at $120.54 on Tuesday. The firm has a market cap of $27.81 billion, a P/E ratio of 14.33, a P/E/G ratio of 0.96 and a beta of 1.73. Nucor Co. has a 12 month low of $97.59 and a 12 month high of $170.52. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $113.89 and a 200 day moving average of $125.25.

Nucor (NYSE:NUE) last released its quarterly earnings results 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). The company had revenue of $7.83 billion during the quarter, compared to analysts’ expectations of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. The company’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.46 EPS. As a group, research analysts forecast that Nucor Co. will post 7.64 EPS for the current year.

Nucor Company 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.