AdvisorShares Investments LLC Has $410,000 Position in Nucor Co. (NYSE:NUE)

AdvisorShares Investments LLC reduced its stake in Nucor Co. (NYSE:NUE) by 3.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,609 shares of the basic materials company’s stock after selling 102 shares during the period. AdvisorShares Investments LLC’s holdings in Nucor were worth $410,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in NUE. Norges Bank acquired a new stake in shares of Nucor in the 4th quarter valued at approximately $377,631,000. Global Assets Advisory LLC bought a new position in Nucor in the 1st quarter valued at approximately $90,216,000. Swedbank AB bought a new position in Nucor in the 1st quarter valued at approximately $37,395,000. Captrust Financial Advisors raised its holdings in Nucor by 23.5% in the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after buying an additional 153,077 shares during the last quarter. Finally, Trinity Street Asset Management LLP bought a new position in Nucor in the 2nd quarter valued at approximately $19,213,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NUE has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $170.00 to $174.00 in a report on Monday. BMO Capital Markets dropped their price objective on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. Argus upgraded shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Bank of America dropped their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. Finally, Jefferies Financial Group assumed coverage on shares of Nucor in a report on Monday, May 20th. They set a “hold” rating and a $190.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $195.00.

Insider Transactions at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of 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 is accessible through this link. Insiders own 0.46% of the company’s stock.

Nucor Stock Down 1.3 %

Nucor stock opened at $137.77 on Thursday. 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 52-week low of $133.42 and a 52-week high of $203.00. The firm has a 50 day moving average price of $151.24 and a two-hundred day moving average price of $168.29. The firm has a market cap of $33.03 billion, a price-to-earnings ratio of 8.10 and a beta of 1.55.

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

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.