SRS Capital Advisors Inc. Buys 339 Shares of Nucor Co. (NYSE:NUE)

SRS Capital Advisors Inc. boosted its stake in Nucor Co. (NYSE:NUE) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,391 shares of the basic materials company’s stock after acquiring an additional 339 shares during the period. SRS Capital Advisors Inc.’s holdings in Nucor were worth $694,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in Nucor in the fourth quarter worth about $377,631,000. First Trust Advisors LP raised its position in shares of Nucor by 6.7% in the fourth quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock valued at $237,949,000 after purchasing an additional 85,475 shares during the period. Nordea Investment Management AB raised its position in shares of Nucor by 6.5% in the first quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock valued at $230,572,000 after purchasing an additional 70,917 shares during the period. Captrust Financial Advisors raised its position in shares of Nucor by 23.5% in the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after purchasing an additional 153,077 shares during the period. Finally, AustralianSuper Pty Ltd raised its position in shares of Nucor by 5.7% in the second quarter. AustralianSuper Pty Ltd now owns 738,327 shares of the basic materials company’s stock valued at $116,715,000 after purchasing an additional 40,050 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insiders Place Their Bets

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of the business’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 value of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NUE shares. Bank of America lowered their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. JPMorgan Chase & Co. lowered their price target on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 16th. Jefferies Financial Group started coverage on shares of Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price target on the stock. BMO Capital Markets decreased their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a report on Monday, June 17th. Finally, Morgan Stanley raised shares of Nucor from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $187.00 to $176.00 in a report on Thursday, August 15th. Four investment 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.43.

Nucor Stock Performance

Nucor stock opened at $138.79 on Friday. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. Nucor Co. has a 1-year low of $137.91 and a 1-year high of $203.00. The firm has a market capitalization of $33.28 billion, a PE ratio of 8.16 and a beta of 1.55. The firm’s 50 day simple moving average is $152.27 and its 200 day simple moving average is $169.28.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same quarter in the previous year, the company earned $5.81 EPS. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. As a group, analysts expect that Nucor Co. will post 9.91 earnings per share for the current fiscal 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.