Ellerson Group Inc. ADV Trims Position in Nucor Co. (NYSE:NUE)

Ellerson Group Inc. ADV trimmed its position in Nucor Co. (NYSE:NUE) by 88.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,700 shares of the basic materials company’s stock after selling 13,125 shares during the period. Ellerson Group Inc. ADV’s holdings in Nucor were worth $269,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Nucor in the 4th quarter worth $377,631,000. Global Assets Advisory LLC purchased a new stake in Nucor in the first quarter worth about $90,216,000. Swedbank AB bought a new position in shares of Nucor in the first quarter worth about $37,395,000. Captrust Financial Advisors lifted its position in shares of Nucor by 23.5% during the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after buying an additional 153,077 shares in the last quarter. Finally, Trinity Street Asset Management LLP purchased a new position in shares of Nucor during the 2nd quarter valued at about $19,213,000. 76.48% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at $15,847,840. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.46% of the company’s stock.

Nucor Trading Up 0.4 %

NUE opened at $141.49 on Tuesday. 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 fifty day moving average is $151.95 and its two-hundred day moving average is $168.86. The company has a market capitalization of $33.58 billion, a P/E ratio of 8.29 and a beta of 1.55. Nucor Co. has a 52 week low of $137.91 and a 52 week high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. 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 posted $5.81 earnings per share. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. Analysts forecast that Nucor Co. will post 9.91 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised Nucor from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $170.00 to $174.00 in a research note on Monday. Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Jefferies Financial Group initiated coverage on shares of Nucor in a research note on Monday, May 20th. They set a “hold” rating and a $190.00 price target for the company. Bank of America cut their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, June 26th. Finally, Morgan Stanley upgraded Nucor from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $187.00 to $176.00 in a report on Thursday, August 15th. Three 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 company’s stock. Based on data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $195.00.

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.