Natixis Advisors LLC Sells 4,515 Shares of Nucor Co. (NYSE:NUE)

Natixis Advisors LLC decreased its position in Nucor Co. (NYSE:NUE) by 4.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,230 shares of the basic materials company’s stock after selling 4,515 shares during the quarter. Natixis Advisors LLC’s holdings in Nucor were worth $15,054,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of Nucor during the 4th quarter worth approximately $625,000. National Bank of Canada FI boosted its stake in shares of Nucor by 11.0% during the 4th quarter. National Bank of Canada FI now owns 62,489 shares of the basic materials company’s stock worth $10,962,000 after buying an additional 6,198 shares during the last quarter. Spire Wealth Management grew its holdings in shares of Nucor by 31.8% in the 4th quarter. Spire Wealth Management now owns 6,827 shares of the basic materials company’s stock valued at $1,139,000 after acquiring an additional 1,647 shares in the last quarter. Private Advisor Group LLC increased its position in shares of Nucor by 24.9% in the fourth quarter. Private Advisor Group LLC now owns 18,478 shares of the basic materials company’s stock valued at $3,216,000 after acquiring an additional 3,684 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in Nucor by 28.5% during the fourth quarter. Apollon Wealth Management LLC now owns 8,372 shares of the basic materials company’s stock worth $1,457,000 after acquiring an additional 1,859 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors.

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 shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is currently owned by insiders.

Nucor Stock Down 1.9 %

NUE stock opened at $141.71 on Thursday. Nucor Co. has a fifty-two week low of $139.41 and a fifty-two week high of $203.00. The stock has a market capitalization of $33.98 billion, a price-to-earnings ratio of 8.34 and a beta of 1.57. The business’s fifty day moving average price is $152.95 and its two-hundred day moving average price is $169.92. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) 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 the consensus estimate of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.81 earnings per share. On average, equities analysts anticipate that Nucor Co. will post 9.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NUE. Morgan Stanley raised shares of Nucor from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $187.00 to $176.00 in a research note on Thursday, August 15th. BMO Capital Markets cut their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. dropped their price target on Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Finally, Bank of America reduced their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.43.

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.