Nucor Co. (NYSE:NUE) Shares Acquired by Choreo LLC

Choreo LLC lifted its stake in Nucor Co. (NYSE:NUE) by 165.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,735 shares of the basic materials company’s stock after purchasing an additional 6,068 shares during the period. Choreo LLC’s holdings in Nucor were worth $1,529,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NUE. McClarren Financial Advisors Inc. increased its stake in shares of Nucor by 129.0% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 89 shares during the last quarter. Rise Advisors LLC purchased a new stake in shares of Nucor in the first quarter valued at about $27,000. Chilton Capital Management LLC increased its position in Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 65 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in Nucor during the first quarter worth about $28,000. Finally, Tompkins Financial Corp boosted its holdings in Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

Shares of NUE opened at $137.77 on Thursday. The company has a market cap of $33.03 billion, a P/E ratio of 8.10 and a beta of 1.55. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average price is $151.24 and its 200 day moving average price is $168.29.

Nucor (NYSE:NUE) last posted its quarterly earnings data 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. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company’s revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.81 earnings per share. On average, research analysts forecast that Nucor Co. will post 9.91 earnings per share for the current fiscal year.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NUE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upgraded shares of Nucor from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $170.00 to $174.00 in a report on Monday. Bank of America reduced their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Morgan Stanley upgraded shares of Nucor from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $187.00 to $176.00 in a report on Thursday, August 15th. Finally, BMO Capital Markets dropped their price target on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average target price of $195.00.

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.