CWA Asset Management Group LLC Boosts Stock Position in Nucor Co. (NYSE:NUE)

CWA Asset Management Group LLC lifted its position in Nucor Co. (NYSE:NUEFree Report) by 83.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,868 shares of the basic materials company’s stock after purchasing an additional 1,302 shares during the quarter. CWA Asset Management Group LLC’s holdings in Nucor were worth $499,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NUE. Northern Trust Corp increased its stake in shares of Nucor by 3.7% in the third quarter. Northern Trust Corp now owns 4,175,571 shares of the basic materials company’s stock worth $652,851,000 after acquiring an additional 149,589 shares during the period. Invesco Ltd. increased its stake in shares of Nucor by 7.6% in the third quarter. Invesco Ltd. now owns 2,262,832 shares of the basic materials company’s stock worth $353,794,000 after acquiring an additional 159,230 shares during the period. Norges Bank acquired a new stake in shares of Nucor in the fourth quarter worth $377,631,000. Pacer Advisors Inc. increased its stake in shares of Nucor by 13.0% in the fourth quarter. Pacer Advisors Inc. now owns 2,070,960 shares of the basic materials company’s stock worth $360,430,000 after acquiring an additional 237,752 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Nucor by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,499,893 shares of the basic materials company’s stock worth $261,041,000 after acquiring an additional 36,304 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NYSE NUE traded down $5.40 during trading on Tuesday, hitting $161.41. The company had a trading volume of 686,472 shares, compared to its average volume of 1,404,036. The stock has a fifty day simple moving average of $181.63 and a two-hundred day simple moving average of $178.61. Nucor Co. has a fifty-two week low of $138.32 and a fifty-two week high of $203.00. The firm has a market capitalization of $38.70 billion, a price-to-earnings ratio of 9.53 and a beta of 1.60. 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:NUEGet Free Report) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $4.45 earnings per share. On average, research analysts expect that Nucor Co. will post 12.57 earnings per share for the current year.

Insider Activity at Nucor

In related news, EVP Douglas J. Jellison sold 19,506 shares of Nucor stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the transaction, the executive vice president now owns 120,738 shares in the company, valued at $23,351,936.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Nucor news, EVP Allen C. Behr sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 80,902 shares in the company, valued at approximately $15,386,751.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Douglas J. Jellison sold 19,506 shares of the business’s 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 transaction, the executive vice president now owns 120,738 shares of the company’s stock, valued at approximately $23,351,936.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,651 shares of company stock worth $6,283,648. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the topic of a number of research reports. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a research note 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. BMO Capital Markets dropped their price target on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th. Citigroup upgraded shares of Nucor from a “neutral” rating to a “buy” rating and raised their price target for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. 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. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Nucor presently has a consensus rating of “Hold” and an average price target of $192.75.

Read Our Latest Stock Report on NUE

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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