Putney Financial Group LLC Takes $29,000 Position in Nucor Co. (NYSE:NUE)

Putney Financial Group LLC purchased a new stake in shares of Nucor Co. (NYSE:NUE) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 250 shares of the basic materials company’s stock, valued at approximately $29,000.

A number of other hedge funds have also recently made changes to their positions in NUE. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Nucor during the fourth quarter valued at about $25,000. Crews Bank & Trust acquired a new stake in shares of Nucor during the fourth quarter valued at about $29,000. New Wave Wealth Advisors LLC acquired a new stake in shares of Nucor during the fourth quarter valued at about $33,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Nucor during the fourth quarter valued at about $41,000. Finally, Beacon Capital Management LLC raised its position in shares of Nucor by 29.1% during the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 94 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NUE has been the subject of a number of analyst reports. Morgan Stanley set a $164.00 price objective on Nucor in a research report on Monday, March 24th. Wall Street Zen downgraded Nucor from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Argus set a $155.00 price objective on Nucor in a research report on Wednesday, March 5th. The Goldman Sachs Group lowered their price objective on Nucor from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.33.

Insiders Place Their Bets

In other news, CEO Leon J. Topalian sold 34,238 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the sale, the chief executive officer now owns 162,993 shares in the company, valued at $19,590,128.67. The trade was a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Nucor Trading Down 2.1%

Shares of NUE stock opened at $108.35 on Monday. The company has a market cap of $25.00 billion, a P/E ratio of 12.88, a PEG ratio of 0.96 and a beta of 1.73. The stock has a 50 day simple moving average of $115.87 and a two-hundred day simple moving average of $127.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. Nucor Co. has a fifty-two week low of $97.59 and a fifty-two week high of $171.26.

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