Intersect Capital LLC purchased a new position in shares of Nucor Co. (NYSE:NUE) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,465 shares of the basic materials company’s stock, valued at approximately $236,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of NUE. Capital Analysts LLC acquired a new position in Nucor during the 2nd quarter worth about $29,000. AllSquare Wealth Management LLC acquired a new position in Nucor during the 1st quarter worth about $34,000. Evoke Wealth LLC lifted its position in Nucor by 2,452.9% during the 1st quarter. Evoke Wealth LLC now owns 434 shares of the basic materials company’s stock worth $35,000 after buying an additional 417 shares in the last quarter. Montag A & Associates Inc. acquired a new position in Nucor during the 1st quarter valued at about $35,000. Finally, Certified Advisory Corp acquired a new position in Nucor during the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 76.45% of the company’s stock.
A number of research analysts have issued reports on the stock. Seaport Res Ptn restated a “buy” rating on shares of Nucor in a research report on Monday, August 23rd. Argus upped their target price on shares of Nucor from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, August 24th. Seaport Global Securities assumed coverage on shares of Nucor in a research report on Monday, August 23rd. They set a “buy” rating and a $130.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on shares of Nucor in a research report on Wednesday, June 16th. They set a “neutral” rating and a $114.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Nucor from $75.00 to $100.00 and gave the company a “hold” rating in a research report on Thursday, July 1st. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Nucor presently has an average rating of “Buy” and a consensus target price of $88.00.
NYSE NUE opened at $106.20 on Wednesday. The business has a 50 day simple moving average of $108.24 and a 200 day simple moving average of $94.52. Nucor Co. has a 52-week low of $44.05 and a 52-week high of $128.81. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.76 and a current ratio of 3.11. The stock has a market cap of $31.19 billion, a price-to-earnings ratio of 10.55 and a beta of 1.38.
Nucor (NYSE:NUE) last posted its earnings results on Thursday, July 22nd. The basic materials company reported $5.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.81 by $0.23. Nucor had a return on equity of 26.26% and a net margin of 11.70%. The business had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $8.24 billion. During the same period in the prior year, the business earned $0.37 EPS. Nucor’s revenue for the quarter was up 55.6% compared to the same quarter last year. On average, analysts predict that Nucor Co. will post 19.33 EPS for the current year.
Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment comprises of carbon and alloy steel in sheet, bars; structural and plate; steel trading businesses; rebar distribution businesses; and Nucor’s equity method investments.
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