Latest Stocks: New Mexico Educational Retirement Board Sells 1,700 Shares of Nucor Co. (NUE)

Latest Stocks: New Mexico Educational Retirement Board Sells 1,700 Shares of Nucor Co. (NUE)

New Mexico Educational Retirement Board lowered its position in shares of Nucor Co. (NYSE:NUE) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,309 shares of the basic materials company’s stock after selling 1,700 shares during the period. New Mexico Educational Retirement Board’s holdings in Nucor were worth $1,929,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. APG Asset Management N.V. boosted its stake in shares of Nucor by 50.9% in the third quarter. APG Asset Management N.V. now owns 689,260 shares of the basic materials company’s stock worth $34,084,000 after buying an additional 232,500 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Nucor during the fourth quarter worth approximately $7,411,000. Quantitative Investment Management LLC boosted its stake in shares of Nucor by 172.1% in the third quarter. Quantitative Investment Management LLC now owns 129,500 shares of the basic materials company’s stock worth $6,403,000 after buying an additional 81,900 shares in the last quarter. FMR LLC boosted its stake in shares of Nucor by 905.2% in the fourth quarter. FMR LLC now owns 2,715,677 shares of the basic materials company’s stock worth $161,637,000 after buying an additional 2,445,520 shares in the last quarter. Finally, Ardevora Asset Management LLP acquired a new stake in shares of Nucor during the fourth quarter worth approximately $26,361,000. 76.41% of the stock is owned by institutional investors and hedge funds.

Nucor Co. (NUE) opened at 58.97 on Tuesday. The company’s 50 day moving average is $58.98 and its 200-day moving average is $60.74. Nucor Co. has a 12 month low of $44.81 and a 12 month high of $68.00. The company has a market cap of $18.81 billion, a price-to-earnings ratio of 17.77 and a beta of 1.45.

NUE has been the subject of a number of research reports. Zacks Investment Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating and set a $69.00 target price for the company in a report on Tuesday, March 28th. JPMorgan Chase & Co. upped their target price on shares of Nucor from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, March 22nd. Deutsche Bank AG upped their price target on shares of Nucor from $73.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, March 21st. Morgan Stanley upgraded shares of Nucor from an “equal weight” rating to an “overweight” rating and set a $78.00 price target for the company in a research report on Monday, February 13th. Finally, Barclays PLC upped their price target on shares of Nucor from $63.00 to $67.00 and gave the stock an “overweight” rating in a research report on Monday, February 6th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $68.97. In other Nucor news, Director Victoria F. Haynes sold 3,000 shares of Nucor stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $61.52, for a total transaction of $184,560.00. Following the sale, the director now owns 33,703 shares of the company’s stock, valued at approximately $2,073,408.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO James D. Frias sold 52,631 shares of Nucor stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $62.57, for a total transaction of $3,293,121.67. Following the sale, the chief financial officer now directly owns 174,037 shares in the company, valued at approximately $10,889,495.09. The disclosure for this sale can be found here. In the last three months, insiders sold 67,863 shares of company stock valued at $4,231,173. 0.63% of the stock is owned by insiders.

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