Nucor Co. (NYSE:NUE) Shares Bought by V Square Quantitative Management LLC

V Square Quantitative Management LLC lifted its position in shares of Nucor Co. (NYSE:NUE) by 5.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,352 shares of the basic materials company’s stock after buying an additional 286 shares during the quarter. V Square Quantitative Management LLC’s holdings in Nucor were worth $805,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NUE. Dimensional Fund Advisors LP raised its position in Nucor by 2.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after acquiring an additional 84,558 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Nucor by 29.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after purchasing an additional 660,866 shares during the last quarter. Legal & General Group Plc lifted its stake in Nucor by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after buying an additional 67,974 shares in the last quarter. Nordea Investment Management AB grew its holdings in Nucor by 6.5% during the 1st quarter. Nordea Investment Management AB now owns 1,165,094 shares of the basic materials company’s stock valued at $230,572,000 after buying an additional 70,917 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in Nucor by 11.6% during the second quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after buying an additional 111,177 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Up 0.1 %

Shares of NYSE NUE opened at $158.24 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.93 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $37.56 billion, a PE ratio of 11.41 and a beta of 1.55. The firm has a fifty day moving average of $147.44 and a 200-day moving average of $160.75. Nucor Co. has a 52-week low of $133.42 and a 52-week high of $203.00.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm’s revenue was down 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted $5.81 earnings per share. On average, analysts anticipate that Nucor Co. will post 9.08 EPS for the current year.

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.37%. Nucor’s dividend payout ratio (DPR) is 15.57%.

Insiders Place Their Bets

In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total value of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.64% of the stock is owned by insiders.

Analyst Ratings Changes

NUE has been the topic of several recent research reports. Morgan Stanley reduced their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Bank of America cut their price objective 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. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. reduced their price target on Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.43.

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.