Whitaker Myers Wealth Managers LTD. Purchases 231 Shares of Nucor Co. (NYSE:NUE)

Whitaker Myers Wealth Managers LTD. raised its position in Nucor Co. (NYSE:NUE) by 7.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,287 shares of the basic materials company’s stock after acquiring an additional 231 shares during the period. Whitaker Myers Wealth Managers LTD.’s holdings in Nucor were worth $396,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Nucor during the 4th quarter valued at $25,000. Putney Financial Group LLC acquired a new position in Nucor during the 4th quarter valued at about $29,000. Fourth Dimension Wealth LLC purchased a new stake in Nucor in the fourth quarter valued at about $41,000. Park Square Financial Group LLC acquired a new stake in Nucor in the fourth quarter worth about $48,000. Finally, Beacon Capital Management LLC boosted its holdings in Nucor by 29.1% in 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 in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NUE has been the subject of several research analyst reports. BMO Capital Markets raised shares of Nucor from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. Morgan Stanley set a $164.00 price target on shares of Nucor in a report on Monday, March 24th. Wall Street Zen downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. UBS Group cut their target price on Nucor from $153.00 to $147.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Finally, The Goldman Sachs Group lowered their price target on Nucor from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $157.22.

Nucor Trading Up 2.5%

Shares of Nucor stock opened at $121.71 on Friday. The stock has a market cap of $28.08 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 0.96 and a beta of 1.67. The firm has a fifty day moving average price of $113.79 and a 200 day moving average price of $124.69. Nucor Co. has a 1 year low of $97.59 and a 1 year high of $170.52. 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 released its quarterly earnings data 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). Nucor had a net margin of 6.60% and a return on equity of 9.85%. The company had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.25 billion. During the same quarter in the previous year, the business posted $3.46 EPS. The business’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts predict that Nucor Co. will post 7.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Leon J. Topalian sold 34,238 shares of Nucor 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 directly owns 162,993 shares of the company’s stock, valued at $19,590,128.67. The trade was a 17.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.