Corient Private Wealth LLC increased its position in shares of Nucor Co. (NYSE:NUE – Free Report) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,955 shares of the basic materials company’s stock after buying an additional 3,653 shares during the period. Corient Private Wealth LLC’s holdings in Nucor were worth $14,437,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Northern Trust Corp increased its holdings in shares of Nucor by 3.7% in the third quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock valued at $652,851,000 after purchasing an additional 149,589 shares during the period. Invesco Ltd. boosted its holdings in Nucor by 7.6% during the 3rd quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock valued at $353,794,000 after acquiring an additional 159,230 shares during the period. Norges Bank purchased a new position in shares of Nucor in the fourth quarter valued at approximately $377,631,000. Pacer Advisors Inc. grew its stake in shares of Nucor by 13.0% in the fourth quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock worth $360,430,000 after acquiring an additional 237,752 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Nucor by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,499,893 shares of the basic materials company’s stock valued at $261,041,000 after purchasing an additional 36,304 shares during the period. 76.48% of the stock is currently owned by institutional investors.
Nucor Price Performance
NYSE:NUE traded down $0.26 during trading hours on Friday, reaching $171.27. 1,056,141 shares of the company traded hands, compared to its average volume of 1,242,710. The stock has a market cap of $41.06 billion, a P/E ratio of 10.07 and a beta of 1.65. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.02 and a quick ratio of 2.48. The firm’s 50-day moving average is $184.67 and its 200-day moving average is $177.65.
Insiders Place Their Bets
In other news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the transaction, the executive vice president now directly owns 80,902 shares in the company, valued at $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Nucor news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $193.67, for a total transaction of $609,092.15. Following the completion of the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Allen C. Behr sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total transaction of $1,901,900.00. Following the completion of the transaction, the executive vice president now directly owns 80,902 shares of the company’s stock, valued at approximately $15,386,751.38. The disclosure for this sale can be found here. Insiders have sold 32,651 shares of company stock valued at $6,283,648 over the last quarter. Insiders own 0.46% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Jefferies Financial Group initiated coverage on shares of Nucor in a research note on Monday, May 20th. They set a “hold” rating and a $190.00 target price for the company. BMO Capital Markets cut their price target on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price target on Nucor from $195.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Finally, Citigroup raised shares of Nucor from a “neutral” rating to a “buy” rating and increased their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $192.75.
View Our Latest Analysis on Nucor
About Nucor
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.
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