Nucor Co. (NYSE:NUE) Shares Bought by Journey Advisory Group LLC

Journey Advisory Group LLC increased its position in Nucor Co. (NYSE:NUE) by 190.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,495 shares of the basic materials company’s stock after acquiring an additional 2,290 shares during the period. Journey Advisory Group LLC’s holdings in Nucor were worth $552,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of NUE. EverSource Wealth Advisors LLC lifted its holdings in Nucor by 6.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after acquiring an additional 54 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in Nucor by 54.1% during the first quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock worth $33,000 after buying an additional 59 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in Nucor by 4.1% during the second quarter. GPS Wealth Strategies Group LLC now owns 1,630 shares of the basic materials company’s stock worth $258,000 after buying an additional 64 shares in the last quarter. Chilton Capital Management LLC increased its holdings in shares of Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after buying an additional 65 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its stake in shares of Nucor by 3.4% during the 4th quarter. Integrated Advisors Network LLC now owns 2,141 shares of the basic materials company’s stock worth $373,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 76.48% of the company’s stock.

Insider Activity

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 of the company’s stock, valued at approximately $15,847,840. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.46% of the stock is currently owned by insiders.

Nucor Stock Down 0.6 %

NUE stock traded down $0.81 during mid-day trading on Thursday, hitting $140.90. The stock had a trading volume of 179,324 shares, compared to its average volume of 1,449,354. Nucor Co. has a 1-year low of $139.41 and a 1-year high of $203.00. The company has a fifty day moving average of $152.95 and a 200 day moving average of $169.92. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $33.78 billion, a price-to-earnings ratio of 8.30 and a beta of 1.57.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter last year, the firm earned $5.81 earnings per share. The company’s revenue for the quarter was down 15.2% on a year-over-year basis. On average, equities analysts expect that Nucor Co. will post 9.91 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NUE shares. Morgan Stanley upgraded Nucor from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $187.00 to $176.00 in a research report on Thursday, August 15th. BMO Capital Markets decreased their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. JPMorgan Chase & Co. cut their price target on shares of Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a report on Tuesday, July 16th. Bank of America decreased their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. Finally, Jefferies Financial Group assumed coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 price objective on the stock. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.43.

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.