Jeppson Wealth Management LLC Acquires 154 Shares of Nucor Co. (NYSE:NUE)

Jeppson Wealth Management LLC boosted its holdings in Nucor Co. (NYSE:NUE) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,269 shares of the basic materials company’s stock after purchasing an additional 154 shares during the period. Jeppson Wealth Management LLC’s holdings in Nucor were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in shares of Nucor in the 1st quarter valued at about $27,000. Chilton Capital Management LLC grew its stake in Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 65 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Nucor during the 1st quarter worth approximately $28,000. Tompkins Financial Corp raised its stake in shares of Nucor by 208.0% during the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 104 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new stake in shares of Nucor in the 1st quarter valued at approximately $31,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Performance

NUE traded up $1.59 on Friday, reaching $141.19. The company had a trading volume of 44,048 shares, compared to its average volume of 1,449,807. The company’s fifty day moving average is $152.65 and its 200 day moving average is $169.71. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. The stock has a market cap of $33.85 billion, a P/E ratio of 8.21 and a beta of 1.57. Nucor Co. has a fifty-two week low of $138.64 and a fifty-two week high of $203.00.

Nucor (NYSE:NUE) last posted its earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.31 by $0.37. The company had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.81 earnings per share. As a group, analysts predict that Nucor Co. will post 9.91 earnings per share for the current fiscal year.

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at $15,847,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NUE shares. Jefferies Financial Group initiated coverage on shares of Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. Morgan Stanley upgraded shares of Nucor from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $187.00 to $176.00 in a research note on Thursday, August 15th. BMO Capital Markets cut their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research note on Monday, June 17th. Bank of America reduced their price target on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Finally, Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $194.43.

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.