Nucor Co. (NYSE:NUE) Shares Acquired by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB raised its holdings in shares of Nucor Co. (NYSE:NUE) by 7.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,228 shares of the basic materials company’s stock after acquiring an additional 146 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Nucor were worth $268,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised 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 acquiring an additional 105,309 shares in the last quarter. Norges Bank bought a new stake in Nucor during the 4th quarter valued at $398,077,000. Invesco Ltd. raised 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 acquiring an additional 384,205 shares in the last quarter. First Trust Advisors LP raised 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 acquiring an additional 474,274 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised 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 acquiring an additional 68,252 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.3%

NUE opened at $109.30 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The company has a market capitalization of $25.22 billion, a PE ratio of 13.00, a P/E/G ratio of 0.96 and a beta of 1.73. The stock’s fifty day moving average is $114.02 and its 200-day moving average is $125.58. Nucor Co. has a one year low of $97.59 and a one year high of $170.52.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 9.85% and a net margin of 6.60%. The business’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.46 earnings per share. On average, equities analysts predict that Nucor Co. will post 7.64 EPS for the current fiscal year.

Analyst Ratings Changes

NUE has been the topic of several recent analyst reports. 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. Argus set a $155.00 target price on Nucor in a research note on Wednesday, March 5th. Wall Street Zen downgraded Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. Finally, UBS Group dropped their price objective on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $158.89.

Insider Buying and Selling

In related news, CEO Leon J. Topalian sold 34,238 shares of Nucor stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total value of $4,115,065.22. Following the transaction, the chief executive officer now directly owns 162,993 shares in the company, valued at $19,590,128.67. The trade was a 17.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.46% of the company’s stock.

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.