Team Hewins LLC Makes New Investment in Nucor Co. (NYSE:NUE)

Team Hewins LLC purchased a new position in Nucor Co. (NYSE:NUE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,702 shares of the basic materials company’s stock, valued at approximately $297,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in NUE. Criterion Capital Advisors LLC acquired a new stake in shares of Nucor in the fourth quarter worth $25,000. Valley National Advisers Inc. increased its stake in shares of Nucor by 716.7% in the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 172 shares during the period. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of Nucor by 36.6% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 59 shares during the period. Private Wealth Management Group LLC acquired a new stake in shares of Nucor in the fourth quarter worth $38,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Nucor by 2,410.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock worth $44,000 after acquiring an additional 241 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NYSE NUE traded down $0.26 during trading on Friday, hitting $171.27. The company had a trading volume of 1,056,141 shares, compared to its average volume of 1,242,710. The stock has a fifty day simple moving average of $184.67 and a two-hundred day simple moving average of $177.83. Nucor Co. has a fifty-two week low of $129.79 and a fifty-two week high of $203.00. The firm has a market capitalization of $41.06 billion, a price-to-earnings ratio of 10.07 and a beta of 1.65. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31.

Nucor (NYSE:NUE) last announced its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a net margin of 12.40% and a return on equity of 19.62%. The company had revenue of $8.14 billion during the quarter, compared to analyst estimates of $8.26 billion. During the same quarter last year, the business earned $4.45 EPS. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts expect that Nucor Co. will post 12.57 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on NUE shares. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. BMO Capital Markets cut their price objective on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group started coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor presently has a consensus rating of “Hold” and an average price target of $192.75.

Insider Activity

In other news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the sale, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Allen C. Behr sold 10,000 shares of Nucor stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $190.19, for a total value of $1,901,900.00. Following the sale, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the completion of the transaction, the executive vice president now directly owns 120,738 shares in the company, valued at $23,351,936.58. The disclosure for this sale can be found here. Insiders have sold a total of 32,651 shares of company stock worth $6,283,648 over the last 90 days. 0.46% of the stock is currently owned by company insiders.

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.