Intech Investment Management LLC Reduces Holdings in Nucor Co. (NYSE:NUE)

Intech Investment Management LLC reduced its position in Nucor Co. (NYSE:NUE) by 55.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,068 shares of the basic materials company’s stock after selling 71,093 shares during the period. Intech Investment Management LLC’s holdings in Nucor were worth $9,758,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NUE. WealthPlan Investment Management LLC increased its holdings in Nucor by 383,107.1% during the 3rd quarter. WealthPlan Investment Management LLC now owns 53,649 shares of the basic materials company’s stock worth $8,388,000 after purchasing an additional 53,635 shares during the last quarter. Signaturefd LLC raised its holdings in Nucor by 2.6% in the third quarter. Signaturefd LLC now owns 5,612 shares of the basic materials company’s stock valued at $877,000 after acquiring an additional 142 shares in the last quarter. Syon Capital LLC bought a new position in Nucor during the 3rd quarter valued at $276,000. NBC Securities Inc. acquired a new position in Nucor during the 3rd quarter worth $201,000. Finally, Avantax Planning Partners Inc. increased its position in shares of Nucor by 2.8% in the 3rd quarter. Avantax Planning Partners Inc. now owns 2,757 shares of the basic materials company’s stock worth $431,000 after purchasing an additional 75 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Nucor Stock Performance

Shares of NUE traded down $0.26 during midday trading on Friday, hitting $171.27. 1,056,141 shares of the stock traded hands, compared to its average volume of 1,242,710. The firm has a market capitalization of $41.06 billion, a PE 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 business’s 50 day moving average price is $184.67 and its two-hundred day moving average price is $177.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02.

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 analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The company had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same period last year, the firm earned $4.45 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. Equities research analysts predict that Nucor Co. will post 12.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Jefferies Financial Group began coverage on Nucor in a report on Monday, May 20th. They issued a “hold” rating and a $190.00 price target for the company. JPMorgan Chase & Co. dropped their price target on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Finally, BMO Capital Markets dropped their target price on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a report on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $192.75.

Nucor Company 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.