Certuity LLC Sells 1,244 Shares of Nucor Co. (NYSE:NUE)

Certuity LLC trimmed its holdings in Nucor Co. (NYSE:NUE) by 15.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,756 shares of the basic materials company’s stock after selling 1,244 shares during the quarter. Certuity LLC’s holdings in Nucor were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in Nucor during the 4th quarter valued at $377,631,000. Global Assets Advisory LLC bought a new stake in shares of Nucor in the first quarter valued at about $90,216,000. Swedbank AB acquired a new stake in Nucor during the first quarter worth about $37,395,000. Captrust Financial Advisors increased its stake in Nucor by 23.5% during the first quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after acquiring an additional 153,077 shares during the period. Finally, Trinity Street Asset Management LLP bought a new position in Nucor during the second quarter valued at about $19,213,000. Institutional investors and hedge funds 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 dated 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 owns 99,049 shares in the company, valued at approximately $15,847,840. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by corporate insiders.

Nucor Stock Down 0.6 %

NUE opened at $138.79 on Friday. Nucor Co. has a twelve month low of $137.91 and a twelve month high of $203.00. The firm has a market cap of $33.28 billion, a price-to-earnings ratio of 8.16 and a beta of 1.55. The firm’s 50-day simple moving average is $152.27 and its 200-day simple moving average is $169.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93.

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, topping 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 analysts’ expectations of $7.69 billion. During the same period in the prior year, the firm earned $5.81 earnings per share. The company’s quarterly revenue was down 15.2% compared to the same quarter last year. Equities research analysts anticipate that Nucor Co. will post 9.91 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on NUE shares. BMO Capital Markets reduced their price objective on Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a research report on Monday, June 17th. Morgan Stanley upgraded shares of Nucor from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $187.00 to $176.00 in a research note on Thursday, August 15th. Argus upgraded shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Jefferies Financial Group started coverage on shares of Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. Finally, Bank of America dropped their price target on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Nucor has a consensus rating of “Moderate Buy” and an average 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.