GSA Capital Partners LLP Makes New Investment in Nucor Co. (NYSE:NUE)

GSA Capital Partners LLP acquired a new stake in shares of Nucor Co. (NYSE:NUE) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 1,593 shares of the basic materials company’s stock, valued at approximately $239,000.

Several other institutional investors and hedge funds have also modified their holdings of NUE. Delta Financial Advisors LLC lifted its position in shares of Nucor by 2.8% in the third quarter. Delta Financial Advisors LLC now owns 29,004 shares of the basic materials company’s stock worth $4,360,000 after purchasing an additional 778 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Nucor during the 3rd quarter worth about $26,000. Crossmark Global Holdings Inc. raised its holdings in Nucor by 1.9% during the third quarter. Crossmark Global Holdings Inc. now owns 45,128 shares of the basic materials company’s stock worth $6,785,000 after acquiring an additional 851 shares in the last quarter. Baker Avenue Asset Management LP raised its stake in shares of Nucor by 29.0% during the 3rd quarter. Baker Avenue Asset Management LP now owns 44,752 shares of the basic materials company’s stock worth $6,728,000 after purchasing an additional 10,048 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its position in shares of Nucor by 1.2% in the 3rd quarter. Axxcess Wealth Management LLC now owns 8,468 shares of the basic materials company’s stock valued at $1,273,000 after acquiring an additional 100 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley cut their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. BMO Capital Markets lowered their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. cut their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $190.57.

Nucor Price Performance

Shares of NYSE:NUE opened at $151.92 on Friday. The company has a market capitalization of $35.67 billion, a P/E ratio of 14.68 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The company’s 50-day moving average is $149.67 and its 200 day moving average is $154.07.

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

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.42%. The ex-dividend date was Friday, September 27th. Nucor’s payout ratio is 20.87%.

Insiders Place Their Bets

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the sale, the executive vice president now directly owns 98,770 shares in the company, valued at $14,499,436. This represents a 8.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the sale, the executive vice president now owns 85,376 shares of the company’s stock, valued at $13,636,254.72. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,680 shares of company stock worth $4,773,724 in the last ninety days. 0.46% of the stock is currently owned by insiders.

Nucor Company 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.