Certuity LLC Sells 1,244 Shares of Nucor Co. (NYSE:NUE)

Certuity LLC decreased its position in Nucor Co. (NYSE:NUEFree Report) by 15.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,756 shares of the basic materials company’s stock after selling 1,244 shares during the period. Certuity LLC’s holdings in Nucor were worth $1,068,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NUE. Rise Advisors LLC bought a new position in shares of Nucor in the 1st quarter valued at about $27,000. Chilton Capital Management LLC boosted 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 acquiring an additional 65 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in Nucor during the 1st quarter worth $28,000. Tompkins Financial Corp raised its position 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 valued at $30,000 after acquiring an additional 104 shares during the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in shares of Nucor in the 1st quarter valued at $31,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Performance

Shares of NUE opened at $138.79 on Friday. The firm’s 50 day moving average price is $152.27 and its two-hundred day moving average price is $169.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. Nucor Co. has a twelve month low of $137.91 and a twelve month high of $203.00. The firm has a market cap of $33.28 billion, a P/E ratio of 8.16 and a beta of 1.55.

Nucor (NYSE:NUEGet Free Report) last announced its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same period in the prior year, the business earned $5.81 EPS. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, analysts forecast that Nucor Co. will post 9.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of analyst reports. Morgan Stanley raised Nucor from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $187.00 to $176.00 in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered their price target on Nucor from $180.00 to $170.00 and set a “neutral” rating for the company in a research note on Tuesday, July 16th. Bank of America reduced their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Jefferies Financial Group began coverage on shares of Nucor in a research note on Monday, May 20th. They issued a “hold” rating and a $190.00 target price for the company. Finally, BMO Capital Markets reduced their price target on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research report on Monday, June 17th. 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 company’s stock. Based on data from MarketBeat, Nucor presently has an average rating of “Moderate Buy” and a consensus price target of $194.43.

Get Our Latest Stock Report on Nucor

Insider Transactions at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.46% of the stock is owned by insiders.

About Nucor

(Free Report)

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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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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