Zebra Capital Management LLC Makes New Investment in Nucor Co. (NYSE:NUE)

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Zebra Capital Management LLC acquired a new position in shares of Nucor Co. (NYSE:NUE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,853 shares of the basic materials company’s stock, valued at approximately $433,000.

A number of other institutional investors also recently bought and sold shares of NUE. Geode Capital Management LLC increased its stake in Nucor by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock worth $258,607,000 after acquiring an additional 506,988 shares during the period. Moors & Cabot Inc. bought a new position in Nucor during the 1st quarter worth $290,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Nucor by 12.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,377,402 shares of the basic materials company’s stock worth $80,371,000 after acquiring an additional 148,039 shares during the period. Strategy Asset Managers LLC bought a new position in Nucor during the 1st quarter worth $48,000. Finally, Israel Discount Bank of New York increased its stake in Nucor by 3.6% during the 1st quarter. Israel Discount Bank of New York now owns 8,703 shares of the basic materials company’s stock worth $507,000 after acquiring an additional 299 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Several equities analysts have recently issued reports on NUE shares. Bank of America decreased their price target on Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 4th. Credit Suisse Group set a $61.00 price target on Nucor and gave the company a “buy” rating in a research note on Friday, July 19th. KeyCorp decreased their price target on Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Deutsche Bank lowered Nucor from a “buy” rating to a “hold” rating in a research note on Thursday, May 30th. Finally, Citigroup set a $60.00 price target on Nucor and gave the company a “buy” rating in a research note on Tuesday, June 11th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $62.40.

In related news, insider Ladd R. Hall sold 28,998 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $56.90, for a total transaction of $1,649,986.20. Following the sale, the insider now owns 292,776 shares in the company, valued at approximately $16,658,954.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Leon J. Topalian sold 5,798 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $56.47, for a total value of $327,413.06. Following the sale, the executive vice president now owns 93,559 shares in the company, valued at approximately $5,283,276.73. The disclosure for this sale can be found here. Insiders have sold a total of 61,203 shares of company stock worth $3,465,601 in the last 90 days. 0.96% of the stock is currently owned by corporate insiders.

NUE stock traded down $0.13 during midday trading on Thursday, reaching $52.76. 122,033 shares of the stock were exchanged, compared to its average volume of 1,746,469. The stock has a market capitalization of $15.91 billion, a PE ratio of 6.92, a P/E/G ratio of 0.93 and a beta of 1.62. Nucor Co. has a 52 week low of $46.10 and a 52 week high of $66.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 1.76. The company has a fifty day moving average price of $50.46 and a 200 day moving average price of $54.41.

Nucor (NYSE:NUE) last issued its quarterly earnings data on Thursday, July 18th. The basic materials company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6 billion. Nucor had a return on equity of 21.65% and a net margin of 8.84%. Nucor’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.07 EPS. As a group, analysts anticipate that Nucor Co. will post 4.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $1.60 dividend on an annualized basis and a yield of 3.03%. Nucor’s dividend payout ratio is currently 21.00%.

Nucor 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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.

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Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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