Quantitative Systematic Strategies LLC Takes $319,000 Position in Nucor (NUE)

Quantitative Systematic Strategies LLC acquired a new stake in Nucor (NYSE:NUE) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,215 shares of the basic materials company’s stock, valued at approximately $319,000.

Other hedge funds have also recently made changes to their positions in the company. Independence Bank of Kentucky acquired a new stake in Nucor during the fourth quarter worth about $100,000. Barrett Asset Management LLC acquired a new stake in Nucor during the fourth quarter worth about $101,000. Jacobi Capital Management LLC grew its holdings in Nucor by 166.7% during the first quarter. Jacobi Capital Management LLC now owns 1,664 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 1,040 shares during the period. Cerebellum GP LLC acquired a new stake in Nucor during the fourth quarter worth about $131,000. Finally, Financial Gravity Companies Inc. acquired a new stake in Nucor during the fourth quarter worth about $140,000. 79.50% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on NUE shares. Credit Suisse Group raised their target price on Nucor from $67.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. BMO Capital Markets raised their target price on Nucor to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. Jefferies Group reaffirmed a “buy” rating and set a $76.00 target price on shares of Nucor in a report on Wednesday, January 31st. Zacks Investment Research lowered Nucor from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Morgan Stanley dropped their target price on Nucor from $70.00 to $68.00 and set a “hold” rating on the stock in a report on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $70.40.

In other news, Director Victoria F. Haynes sold 1,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $60.91, for a total value of $109,638.00. Following the transaction, the director now owns 28,773 shares in the company, valued at $1,752,563.43. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $65.11, for a total value of $520,880.00. Following the completion of the transaction, the executive vice president now owns 78,381 shares in the company, valued at approximately $5,103,386.91. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,837 shares of company stock worth $3,504,495. 0.70% of the stock is owned by corporate insiders.

Shares of NUE opened at $65.76 on Friday. The company has a current ratio of 2.49, a quick ratio of 1.18 and a debt-to-equity ratio of 0.35. Nucor has a 12 month low of $63.02 and a 12 month high of $64.71. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of 18.00, a price-to-earnings-growth ratio of 0.92 and a beta of 1.55.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Thursday, April 19th. The basic materials company reported $1.17 EPS for the quarter, beating the consensus estimate of $1.10 by $0.07. Nucor had a return on equity of 12.94% and a net margin of 6.33%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same period last year, the company earned $1.13 earnings per share. Nucor’s quarterly revenue was up 15.6% compared to the same quarter last year. research analysts anticipate that Nucor will post 5.86 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 11th. Shareholders of record on Thursday, March 29th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 2.31%. The ex-dividend date was Wednesday, March 28th. Nucor’s payout ratio is currently 43.30%.

Nucor Company Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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