Intech Investment Management LLC Acquires 45,569 Shares of Nucor Co. (NYSE:NUE)

Intech Investment Management LLC raised its position in shares of Nucor Co. (NYSE:NUE) by 80.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 102,330 shares of the basic materials company’s stock after purchasing an additional 45,569 shares during the quarter. Intech Investment Management LLC’s holdings in Nucor were worth $15,384,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. McClarren Financial Advisors Inc. raised its stake in Nucor by 129.0% during the second quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 89 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Nucor during the third quarter valued at $26,000. Coastline Trust Co purchased a new stake in shares of Nucor in the 3rd quarter worth approximately $29,000. Brown Lisle Cummings Inc. bought a new position in Nucor in the third quarter worth about $30,000. Finally, Salomon & Ludwin LLC lifted its holdings in shares of Nucor by 45.6% during the 3rd quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Nucor Trading Up 1.2 %

NUE opened at $149.99 on Friday. The business’s 50 day moving average is $149.51 and its two-hundred day moving average is $154.33. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The firm has a market cap of $35.22 billion, a price-to-earnings ratio of 14.49 and a beta of 1.55.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter last year, the business earned $4.57 EPS. The business’s revenue was down 15.2% on a year-over-year basis. On average, research analysts predict that Nucor Co. will post 8.52 EPS for the current year.

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s payout ratio is currently 20.87%.

Insider Activity at Nucor

In other news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total value of $798,825.36. Following the completion of the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the sale, the chief executive officer now directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,680 shares of company stock valued at $4,773,724. Insiders own 0.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NUE. JPMorgan Chase & Co. dropped their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley lowered their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, BMO Capital Markets lowered their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

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.