Waverly Advisors LLC Increases Stock Position in Nucor Co. (NYSE:NUE)

Waverly Advisors LLC grew its stake in shares of Nucor Co. (NYSE:NUE) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,765 shares of the basic materials company’s stock after acquiring an additional 363 shares during the quarter. Waverly Advisors LLC’s holdings in Nucor were worth $7,675,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Voya Investment Management LLC boosted its holdings in shares of Nucor by 528.6% during the 4th quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company’s stock valued at $59,235,000 after acquiring an additional 426,949 shares during the last quarter. Stephens Inc. AR boosted its holdings in shares of Nucor by 38.0% during the 4th quarter. Stephens Inc. AR now owns 8,455 shares of the basic materials company’s stock valued at $987,000 after acquiring an additional 2,327 shares during the last quarter. Grace & White Inc. NY boosted its holdings in shares of Nucor by 12.0% during the 4th quarter. Grace & White Inc. NY now owns 122,339 shares of the basic materials company’s stock valued at $14,278,000 after acquiring an additional 13,100 shares during the last quarter. OFC Financial Planning LLC purchased a new stake in shares of Nucor during the 4th quarter valued at about $878,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Nucor by 274.7% during the 4th quarter. SG Americas Securities LLC now owns 177,232 shares of the basic materials company’s stock valued at $20,685,000 after acquiring an additional 129,938 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 162,993 shares in the company, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NUE. Morgan Stanley set a $164.00 price target on shares of Nucor in a report on Monday, March 24th. The Goldman Sachs Group lowered their price objective on shares of Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. StockNews.com cut shares of Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Jefferies Financial Group increased their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Finally, Argus set a $155.00 price objective on shares of Nucor in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

Nucor Price Performance

NYSE NUE opened at $115.03 on Wednesday. Nucor Co. has a 12 month low of $97.59 and a 12 month high of $173.00. The stock has a market cap of $26.54 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.96 and a beta of 1.73. The company’s 50 day moving average is $117.09 and its two-hundred day moving average is $128.11. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27.

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

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.