MBB Public Markets I LLC Takes $2.64 Million Position in Nucor Co. (NYSE:NUE)

MBB Public Markets I LLC acquired a new position in Nucor Co. (NYSE:NUE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 16,683 shares of the basic materials company’s stock, valued at approximately $2,637,000.

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of 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 holdings in 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. First Trust Advisors LP lifted its position in Nucor by 6.7% during the 4th quarter. First Trust Advisors LP now owns 1,367,209 shares of the basic materials company’s stock valued at $237,949,000 after purchasing an additional 85,475 shares during the period. Nordea Investment Management AB boosted its stake in shares of Nucor by 6.5% in 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 purchasing an additional 70,917 shares during the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Nucor by 11.6% during the 2nd 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 during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Nucor Stock Up 0.1 %

NYSE:NUE opened at $150.13 on Friday. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00. The stock has a 50-day moving average price of $148.14 and a two-hundred day moving average price of $164.91. The stock has a market cap of $36.00 billion, a price-to-earnings ratio of 8.83 and a beta of 1.55. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.37. The business 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%. Nucor’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.81 EPS. As a group, equities analysts expect that Nucor Co. will post 9.28 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.44%. Nucor’s payout ratio is 12.71%.

Insider Activity at Nucor

In other Nucor news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the sale, the executive vice president now owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of recent research reports. BMO Capital Markets reduced their price objective 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. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $170.00 to $174.00 in a research report on Monday, September 9th. Argus upgraded Nucor to a “strong-buy” rating in a report on Monday, August 26th. Bank of America reduced their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Finally, Morgan Stanley lowered their price target on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $192.00.

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.