Latest Stocks: Nucor Co. (NUE) Position Increased by US Bancorp DE

Latest Stocks: Nucor Co. (NUE) Position Increased by US Bancorp DE

US Bancorp DE raised its position in Nucor Co. (NYSE:NUE) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,737 shares of the basic materials company’s stock after buying an additional 4,314 shares during the period. US Bancorp DE’s holdings in Nucor were worth $6,672,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its position in Nucor by 0.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,147 shares of the basic materials company’s stock valued at $128,000 after buying an additional 15 shares in the last quarter. KCM Investment Advisors LLC raised its position in Nucor by 0.5% in the third quarter. KCM Investment Advisors LLC now owns 5,205 shares of the basic materials company’s stock valued at $257,000 after buying an additional 27 shares in the last quarter. First Mercantile Trust Co. raised its position in Nucor by 1.8% in the first quarter. First Mercantile Trust Co. now owns 3,716 shares of the basic materials company’s stock valued at $222,000 after buying an additional 66 shares in the last quarter. TCI Wealth Advisors Inc. raised its position in Nucor by 3.5% in the third quarter. TCI Wealth Advisors Inc. now owns 2,070 shares of the basic materials company’s stock valued at $102,000 after buying an additional 70 shares in the last quarter. Finally, Bank of The West raised its position in Nucor by 1.9% in the first quarter. Bank of The West now owns 4,403 shares of the basic materials company’s stock valued at $263,000 after buying an additional 83 shares in the last quarter. 76.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Nucor Co. (NYSE:NUE) opened at 58.97 on Tuesday. Nucor Co. has a 12-month low of $44.81 and a 12-month high of $68.00. The firm’s 50-day moving average price is $58.98 and its 200 day moving average price is $60.74. The stock has a market capitalization of $18.81 billion, a P/E ratio of 17.77 and a beta of 1.45.

Several equities analysts have recently weighed in on NUE shares. Zacks Investment Research raised Nucor from a “hold” rating to a “strong-buy” rating and set a $69.00 price objective on the stock in a research note on Tuesday, March 28th. BMO Capital Markets reaffirmed a “hold” rating on shares of Nucor in a research note on Friday, April 21st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $75.00 price objective (down from $77.00) on shares of Nucor in a research note on Wednesday, April 19th. Barclays PLC reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Nucor in a research note on Friday, May 5th. Finally, Macquarie raised Nucor from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $55.00 to $62.00 in a research note on Monday, April 24th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $68.97. In related news, CFO James D. Frias sold 52,631 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 174,037 shares in the company, valued at approximately $10,889,495.09. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman John J. Ferriola sold 12,232 shares of the stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $61.60, for a total value of $753,491.20. Following the sale, the chairman now owns 349,855 shares of the company’s stock, valued at approximately $21,551,068. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,863 shares of company stock valued at $4,231,173. 0.63% of the stock is owned by corporate insiders.

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