Gladstone Institutional Advisory LLC Raises Position in Nucor Co. (NYSE:NUE)

Gladstone Institutional Advisory LLC boosted its holdings in Nucor Co. (NYSE:NUE) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,014 shares of the basic materials company’s stock after purchasing an additional 207 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Nucor were worth $699,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NUE. Keybank National Association OH grew its stake in shares of Nucor by 3.4% in the third quarter. Keybank National Association OH now owns 19,246 shares of the basic materials company’s stock worth $3,009,000 after purchasing an additional 639 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Nucor in the 4th quarter worth about $3,481,000. AIA Group Ltd lifted its position in Nucor by 53.2% during the 4th quarter. AIA Group Ltd now owns 13,226 shares of the basic materials company’s stock valued at $2,302,000 after acquiring an additional 4,592 shares during the period. Sapient Capital LLC purchased a new position in Nucor during the 4th quarter valued at about $1,230,000. Finally, abrdn plc boosted its stake in Nucor by 41.7% during the fourth quarter. abrdn plc now owns 154,745 shares of the basic materials company’s stock worth $26,932,000 after acquiring an additional 45,521 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the transaction, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Michael D. Keller sold 3,145 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the transaction, the insider now owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total transaction of $3,772,655.46. Following the sale, the executive vice president now owns 120,738 shares in the company, valued at approximately $23,351,936.58. The disclosure for this sale can be found here. Insiders have sold 32,651 shares of company stock valued at $6,283,648 in the last ninety days. 0.64% of the stock is currently owned by company insiders.

Nucor Price Performance

NYSE NUE opened at $172.19 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.48 and a current ratio of 4.02. The company has a market capitalization of $41.28 billion, a price-to-earnings ratio of 10.13 and a beta of 1.65. The stock has a 50-day moving average of $185.48 and a 200 day moving average of $177.61. Nucor Co. has a one year low of $129.79 and a one year high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a net margin of 12.40% and a return on equity of 19.62%. The company had revenue of $8.14 billion for the quarter, compared to analysts’ expectations of $8.26 billion. During the same period in the previous year, the firm earned $4.45 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, sell-side analysts forecast that Nucor Co. will post 12.44 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. BMO Capital Markets lowered their price objective on Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research note on Wednesday, April 24th. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and increased their target price for the stock from $180.00 to $240.00 in a research note on Wednesday, March 13th. Jefferies Financial Group initiated coverage on Nucor in a research report on Monday. They issued a “hold” rating and a $190.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Nucor presently has an average rating of “Hold” and an average price target of $192.75.

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.