McBroom & Associates LLC Acquires 281 Shares of Nucor Co. (NYSE:NUE)

McBroom & Associates LLC increased its stake in Nucor Co. (NYSE:NUE) by 1.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 28,390 shares of the basic materials company’s stock after buying an additional 281 shares during the quarter. Nucor accounts for approximately 2.8% of McBroom & Associates LLC’s portfolio, making the stock its 16th largest holding. McBroom & Associates LLC’s holdings in Nucor were worth $4,488,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in Nucor during the fourth quarter valued at about $625,000. Principal Securities Inc. purchased a new stake in shares of Nucor during the 4th quarter valued at approximately $222,000. Cary Street Partners Investment Advisory LLC grew its stake in Nucor by 3.1% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 6,266 shares of the basic materials company’s stock valued at $1,091,000 after buying an additional 190 shares in the last quarter. Johnson Investment Counsel Inc. grew its stake in Nucor by 1.3% in the 4th quarter. Johnson Investment Counsel Inc. now owns 9,576 shares of the basic materials company’s stock valued at $1,667,000 after buying an additional 122 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in Nucor by 729.2% during the 4th quarter. Jump Financial LLC now owns 14,834 shares of the basic materials company’s stock valued at $2,582,000 after acquiring an additional 13,045 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NUE shares. BMO Capital Markets reduced their price target on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. raised shares of Nucor from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $170.00 to $174.00 in a report on Monday. Jefferies Financial Group assumed coverage on shares of Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 price objective for the company. Finally, Bank of America lowered their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

Insider Buying and Selling at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the sale, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.46% of the company’s stock.

Nucor Trading Up 1.8 %

NYSE NUE opened at $141.25 on Monday. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The stock’s 50-day simple moving average is $152.27 and its two-hundred day simple moving average is $169.18. Nucor Co. has a twelve month low of $137.91 and a twelve month high of $203.00. The company has a market capitalization of $33.52 billion, a price-to-earnings ratio of 8.16 and a beta of 1.55.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the previous year, the company posted $5.81 EPS. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. Research analysts forecast that Nucor Co. will post 9.91 EPS for the current fiscal 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.