Certuity LLC decreased its position in Nucor Co. (NYSE:NUE – Free 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.
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
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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