Snowden Capital Advisors LLC Has $633,000 Stake in Nucor Co. (NYSE:NUE)

Snowden Capital Advisors LLC lowered its stake in shares of Nucor Co. (NYSE:NUE) by 6.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,395 shares of the basic materials company’s stock after selling 377 shares during the period. Snowden Capital Advisors LLC’s holdings in Nucor were worth $633,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Nucor by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company’s stock valued at $701,255,000 after purchasing an additional 105,309 shares during the last quarter. Norges Bank acquired a new position in Nucor during the 4th quarter valued at about $398,077,000. Invesco Ltd. boosted its stake in Nucor by 18.7% during the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock valued at $284,220,000 after purchasing an additional 384,205 shares during the last quarter. First Trust Advisors LP boosted its stake in Nucor by 24.6% during the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock valued at $280,627,000 after purchasing an additional 474,274 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Nucor by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company’s stock valued at $196,127,000 after purchasing an additional 68,252 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the transaction, the chief executive officer now owns 162,993 shares of the company’s stock, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on NUE shares. Argus set a $155.00 price target on Nucor in a research note on Wednesday, March 5th. StockNews.com downgraded Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Morgan Stanley set a $164.00 target price on Nucor in a research note on Monday, March 24th. The Goldman Sachs Group cut their target price on Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Finally, Jefferies Financial Group boosted their target price on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $160.33.

Nucor Stock Performance

NYSE NUE opened at $115.03 on Wednesday. The company has a 50-day simple moving average of $117.09 and a two-hundred day simple moving average of $128.11. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. Nucor Co. has a 12-month low of $97.59 and a 12-month high of $173.00. The firm has a market cap of $26.54 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 0.96 and a beta of 1.73.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.15). Nucor had a net margin of 6.60% and a return on equity of 9.85%. The firm had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period last year, the company posted $3.46 earnings per share. The business’s revenue was down 3.8% on a year-over-year basis. On average, equities analysts forecast that Nucor Co. will post 7.64 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.