Woodline Partners LP Invests $931,000 in Nucor Co. (NYSE:NUE)

Woodline Partners LP purchased a new position in shares of Nucor Co. (NYSE:NUE) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,978 shares of the basic materials company’s stock, valued at approximately $931,000.

Other institutional investors have also modified their holdings of the company. iSAM Funds UK Ltd purchased a new position in Nucor during the fourth quarter worth about $501,000. Vivaldi Capital Management LP purchased a new stake in shares of Nucor during the 4th quarter valued at approximately $5,096,000. Twinbeech Capital LP purchased a new stake in shares of Nucor during the 4th quarter valued at approximately $30,515,000. Two Sigma Advisers LP purchased a new stake in shares of Nucor during the 4th quarter valued at approximately $10,597,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Nucor during the 4th quarter valued at approximately $20,713,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Activity

In other news, CEO Leon J. Topalian sold 34,238 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the sale, the chief executive officer now directly owns 162,993 shares in the company, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

Nucor Stock Down 2.1%

Shares of NYSE NUE opened at $108.35 on Tuesday. The stock 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 company has a current ratio of 2.51, a quick ratio of 1.48 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 $171.26. The business’s fifty day simple moving average is $115.42 and its 200-day simple moving average is $126.66.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on NUE shares. UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and lifted their target price for the company from $156.00 to $160.00 in a research report on Monday, March 24th. Jefferies Financial Group boosted their price objective on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Argus set a $155.00 price target on shares of Nucor in a research note on Wednesday, March 5th. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $156.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Finally, The Goldman Sachs Group reduced their price target on shares of Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

Nucor 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.