Quantinno Capital Management LP Acquires 8,043 Shares of Nucor Co. (NYSE:NUE)

Quantinno Capital Management LP raised its position in Nucor Co. (NYSE:NUE) by 53.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 23,171 shares of the basic materials company’s stock after buying an additional 8,043 shares during the quarter. Quantinno Capital Management LP’s holdings in Nucor were worth $2,704,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. bought a new position in Nucor in the 4th quarter valued at $25,000. Crews Bank & Trust bought a new position in Nucor in the 4th quarter valued at $29,000. New Wave Wealth Advisors LLC bought a new position in Nucor in the 4th quarter valued at $33,000. Beacon Capital Management LLC boosted its position in Nucor by 29.1% in the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock valued at $49,000 after buying an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new position in Nucor in the 4th quarter valued at $50,000. 76.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Leon J. Topalian sold 34,238 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the sale, the chief executive officer now owns 162,993 shares of the company’s stock, valued at approximately $19,590,128.67. This trade represents a 17.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NUE has been the topic of a number of recent research reports. UBS Group upgraded Nucor from a “neutral” rating to a “buy” rating and increased their price objective for the company from $156.00 to $160.00 in a research report on Monday, March 24th. The Goldman Sachs Group decreased their price objective on Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. StockNews.com lowered Nucor from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. Jefferies Financial Group raised their price target on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research report on Wednesday, January 29th. Finally, Argus set a $155.00 price target on Nucor in a research report on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Nucor has an average rating of “Moderate Buy” and a consensus price target of $160.33.

Nucor Stock Performance

Shares of Nucor stock opened at $115.03 on Wednesday. The company has a market capitalization of $26.54 billion, a PE ratio of 13.68, a PEG ratio of 0.96 and a beta of 1.73. Nucor Co. has a 12 month low of $97.59 and a 12 month high of $173.00. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The stock’s fifty day simple moving average is $117.09 and its 200 day simple moving average is $128.11.

Nucor (NYSE:NUE) last issued 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 business had revenue of $7.83 billion for 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 quarterly revenue was down 3.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.46 EPS. On average, research analysts predict that Nucor Co. will post 7.64 EPS for the current year.

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.