Rehmann Capital Advisory Group reduced its holdings in Nucor Co. (NYSE:NUE – Get Rating) by 14.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,675 shares of the basic materials company’s stock after selling 293 shares during the period. Rehmann Capital Advisory Group’s holdings in Nucor were worth $221,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. grew its holdings in shares of Nucor by 95.4% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,514 shares of the basic materials company’s stock worth $162,000 after purchasing an additional 739 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in shares of Nucor during the 4th quarter worth approximately $226,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Nucor by 4.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 124,845 shares of the basic materials company’s stock worth $16,532,000 after purchasing an additional 5,255 shares in the last quarter. Astoria Portfolio Advisors LLC. acquired a new stake in shares of Nucor during the 4th quarter worth approximately $318,000. Finally, Hollencrest Capital Management acquired a new stake in shares of Nucor during the 4th quarter worth approximately $130,000. 78.33% of the stock is owned by institutional investors.
Analyst Ratings Changes
NUE has been the topic of several recent analyst reports. Credit Suisse Group boosted their price target on Nucor from $140.00 to $156.00 and gave the company an “outperform” rating in a research note on Friday, March 17th. The Goldman Sachs Group boosted their price target on Nucor from $144.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, March 10th. BMO Capital Markets boosted their price objective on Nucor from $155.00 to $165.00 and gave the stock a “market perform” rating in a research note on Friday, January 27th. Morgan Stanley boosted their price objective on Nucor from $113.00 to $122.00 and gave the stock an “equal weight” rating in a research note on Monday, January 30th. Finally, UBS Group reduced their price objective on Nucor from $145.00 to $140.00 in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Nucor has an average rating of “Hold” and a consensus target price of $148.88.
Nucor Trading Up 1.0 %
Nucor (NYSE:NUE – Get Rating) last released its quarterly earnings data on Thursday, April 20th. The basic materials company reported $4.45 EPS for the quarter, beating analysts’ consensus estimates of $3.81 by $0.64. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.87 billion. Nucor had a return on equity of 34.91% and a net margin of 16.73%. The firm’s revenue was down 17.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.67 earnings per share. Research analysts forecast that Nucor Co. will post 17 EPS for the current year.
Nucor announced that its Board of Directors has initiated a stock repurchase program on Thursday, May 11th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the basic materials company to purchase up to 11.6% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment consists of carbon and alloy steel in sheet, bars, structural and plate, steel trading businesses, rebar distribution businesses, and Nucor’s equity method investments.
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