Wealth Enhancement Advisory Services LLC Raises Stock Position in Nucor Co. (NYSE:NUE)

Wealth Enhancement Advisory Services LLC increased its stake in Nucor Co. (NYSE:NUE) by 37.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,598 shares of the basic materials company’s stock after purchasing an additional 22,575 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Nucor were worth $9,757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NUE. Exchange Traded Concepts LLC boosted its holdings in Nucor by 6.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 2,542 shares of the basic materials company’s stock worth $297,000 after purchasing an additional 152 shares during the last quarter. Blue Trust Inc. boosted its holdings in Nucor by 20.3% in the fourth quarter. Blue Trust Inc. now owns 3,845 shares of the basic materials company’s stock worth $449,000 after purchasing an additional 648 shares during the last quarter. Crews Bank & Trust purchased a new stake in Nucor in the fourth quarter worth approximately $29,000. TCI Wealth Advisors Inc. boosted its holdings in Nucor by 4.4% in the fourth quarter. TCI Wealth Advisors Inc. now owns 2,157 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 91 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in Nucor in the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Nucor Stock Up 0.3%

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

Nucor (NYSE:NUE) last announced 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). The firm had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. The firm’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.46 earnings per share. Sell-side analysts expect that Nucor Co. will post 7.64 EPS for the current fiscal year.

Analysts Set New Price Targets

NUE has been the topic of several research reports. The Goldman Sachs Group dropped their target price on shares of Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Wall Street Zen downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. UBS Group decreased their price target on shares of Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday. Argus set a $155.00 price target on shares of Nucor in a research report on Wednesday, March 5th. Finally, Morgan Stanley set a $164.00 price target on shares of Nucor in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.89.

Insider Buying and Selling at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of Nucor 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. The trade was a 17.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is currently owned by insiders.

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.