Johnson Financial Group Inc. Sells 1,770 Shares of Nucor Co. (NYSE:NUE)

Johnson Financial Group Inc. lowered its position in shares of Nucor Co. (NYSE:NUE) by 18.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,661 shares of the basic materials company’s stock after selling 1,770 shares during the period. Johnson Financial Group Inc.’s holdings in Nucor were worth $1,337,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WealthPlan Investment Management LLC grew its position in shares of Nucor by 383,107.1% in the 3rd quarter. WealthPlan Investment Management LLC now owns 53,649 shares of the basic materials company’s stock valued at $8,388,000 after buying an additional 53,635 shares during the last quarter. Signaturefd LLC grew its position in shares of Nucor by 2.6% in the 3rd quarter. Signaturefd LLC now owns 5,612 shares of the basic materials company’s stock valued at $877,000 after buying an additional 142 shares during the last quarter. Syon Capital LLC bought a new stake in shares of Nucor in the 3rd quarter valued at about $276,000. NBC Securities Inc. bought a new stake in shares of Nucor in the 3rd quarter valued at about $201,000. Finally, Avantax Planning Partners Inc. grew its position in shares of Nucor by 2.8% in the 3rd quarter. Avantax Planning Partners Inc. now owns 2,757 shares of the basic materials company’s stock valued at $431,000 after buying an additional 75 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Stock Down 0.2 %

NUE stock traded down $0.26 during trading on Friday, reaching $171.27. 1,056,141 shares of the stock were exchanged, compared to its average volume of 1,242,710. The firm’s 50 day moving average is $184.67 and its 200 day moving average is $177.83. Nucor Co. has a twelve month low of $129.79 and a twelve month high of $203.00. The company has a current ratio of 4.02, a quick ratio of 2.48 and a debt-to-equity ratio of 0.31. The firm has a market cap of $41.06 billion, a P/E ratio of 10.07 and a beta of 1.65.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). Nucor had a return on equity of 19.62% and a net margin of 12.40%. The firm had revenue of $8.14 billion for the quarter, compared to analyst estimates of $8.26 billion. During the same period last year, the company posted $4.45 earnings per share. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, research analysts forecast that Nucor Co. will post 12.57 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. Jefferies Financial Group began coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. JPMorgan Chase & Co. cut their target price on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. BMO Capital Markets cut their target price on Nucor from $210.00 to $200.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 24th. Finally, Citigroup upgraded Nucor from a “neutral” rating to a “buy” rating and upped their target price for the company from $180.00 to $240.00 in a research report on Wednesday, March 13th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $192.75.

Insider Buying and Selling

In other news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now directly owns 120,738 shares of the company’s stock, valued at $23,351,936.58. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael D. Keller sold 3,145 shares of the 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 completion of the sale, the insider now directly owns 24,873 shares of the company’s stock, valued at $4,817,153.91. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,651 shares of company stock valued at $6,283,648. 0.46% of the stock is owned by company insiders.

Nucor 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.