Union Savings Bank Trims Holdings in Nucor Co. (NYSE:NUE)

Union Savings Bank cut its stake in Nucor Co. (NYSE:NUE) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,382 shares of the basic materials company’s stock after selling 60 shares during the quarter. Union Savings Bank’s holdings in Nucor were worth $241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in NUE. Criterion Capital Advisors LLC bought a new stake in shares of Nucor during the fourth quarter worth $25,000. Valley National Advisers Inc. increased its stake in shares of Nucor by 716.7% during the fourth quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after buying an additional 172 shares during the period. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of Nucor by 36.6% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock valued at $38,000 after buying an additional 59 shares during the period. Private Wealth Management Group LLC purchased a new position in shares of Nucor during the fourth quarter valued at $38,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Nucor by 2,410.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock valued at $44,000 after buying an additional 241 shares during the period. 76.48% of the stock is currently owned by institutional investors.

Nucor Stock Down 0.6 %

Shares of NUE traded down $0.98 during mid-day trading on Wednesday, hitting $171.14. 884,276 shares of the company traded hands, compared to its average volume of 1,407,779. Nucor Co. has a 1-year low of $129.79 and a 1-year high of $203.00. The company has a quick ratio of 2.48, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $41.03 billion, a PE ratio of 10.07 and a beta of 1.65. The business has a 50 day moving average of $185.48 and a 200 day moving average of $177.61.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, April 22nd. The basic materials company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.62 by ($0.16). Nucor had a net margin of 12.40% and a return on equity of 19.62%. The company had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same quarter last year, the company earned $4.45 EPS. The business’s revenue was down 6.6% compared to the same quarter last year. Equities research analysts anticipate that Nucor Co. will post 12.44 EPS for the current year.

Insider Activity

In related news, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.67, for a total value of $609,092.15. Following the sale, the insider now owns 24,873 shares in the company, valued at $4,817,153.91. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Allen C. Behr sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $190.19, for a total value of $1,901,900.00. Following the sale, the executive vice president now owns 80,902 shares in the company, valued at $15,386,751.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael D. Keller sold 3,145 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $193.67, for a total value of $609,092.15. Following the completion of the sale, the insider now owns 24,873 shares in the company, valued at approximately $4,817,153.91. The disclosure for this sale can be found here. Insiders have sold a total of 32,651 shares of company stock worth $6,283,648 over the last 90 days. 0.64% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NUE has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. BMO Capital Markets cut their price target on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 24th. Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and raised their price target for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. Jefferies Financial Group started coverage on Nucor in a research note on Monday. They set a “hold” rating and a $190.00 price target on the stock. Finally, StockNews.com downgraded shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $192.75.

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.