Hudson Valley Investment Advisors Inc. ADV Sells 2,410 Shares of Nucor Co. (NYSE:NUE)

Hudson Valley Investment Advisors Inc. ADV decreased its holdings in shares of Nucor Co. (NYSE:NUE) by 7.2% during the 1st quarter, Holdings Channel reports. The firm owned 30,929 shares of the basic materials company’s stock after selling 2,410 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Nucor were worth $3,722,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Nucor by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 5,967,254 shares of the basic materials company’s stock valued at $701,255,000 after purchasing an additional 105,309 shares in the last quarter. Norges Bank bought a new stake in shares of Nucor during the 4th quarter valued at about $398,077,000. Invesco Ltd. raised its stake in Nucor by 18.7% during the 4th quarter. Invesco Ltd. now owns 2,435,265 shares of the basic materials company’s stock worth $284,220,000 after buying an additional 384,205 shares during the period. First Trust Advisors LP raised its stake in Nucor by 24.6% during the 4th quarter. First Trust Advisors LP now owns 2,404,477 shares of the basic materials company’s stock worth $280,627,000 after buying an additional 474,274 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Nucor by 4.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,680,468 shares of the basic materials company’s stock worth $196,127,000 after buying an additional 68,252 shares during the period. Institutional investors own 76.48% of the company’s stock.

Insider Activity at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the 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 completion of the transaction, the chief executive officer now directly owns 162,993 shares of the company’s stock, valued at approximately $19,590,128.67. This represents a 17.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.46% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wall Street Zen downgraded Nucor from a “hold” rating to a “sell” rating in a research note on Wednesday, April 30th. The Goldman Sachs Group dropped their price target on Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Morgan Stanley set a $164.00 price target on Nucor in a research note on Monday, March 24th. BMO Capital Markets raised Nucor from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. Finally, UBS Group lowered their price objective on Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Nucor currently has an average rating of “Moderate Buy” and a consensus price target of $157.22.

Nucor Stock Performance

Shares of NUE opened at $121.71 on Friday. 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 company has a market capitalization of $28.08 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 0.96 and a beta of 1.67. The stock has a 50 day moving average of $113.79 and a 200 day moving average of $124.85. Nucor Co. has a 12 month low of $97.59 and a 12 month high of $170.52.

Nucor (NYSE:NUE) last issued its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. The business’s 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 earnings per share. As a group, sell-side analysts forecast that Nucor Co. will post 7.64 earnings per share for the current year.

Nucor Company 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.