Point72 Hong Kong Ltd Buys Shares of 26,015 Nucor Co. (NYSE:NUE)

Point72 Hong Kong Ltd purchased a new position in shares of Nucor Co. (NYSE:NUE) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 26,015 shares of the basic materials company’s stock, valued at approximately $3,911,000.

Several other institutional investors and hedge funds have also recently modified their holdings of 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 worth $25,000 after purchasing an additional 89 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Nucor during the 3rd quarter valued at approximately $26,000. Coastline Trust Co acquired a new position in Nucor in the third quarter valued at approximately $29,000. Brown Lisle Cummings Inc. purchased a new position in Nucor in the third quarter worth approximately $30,000. Finally, HHM Wealth Advisors LLC grew its position in Nucor by 769.2% in the second quarter. HHM Wealth Advisors LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Morgan Stanley decreased their target price 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 upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Finally, BMO Capital Markets decreased their price objective 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. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $190.57.

Nucor Stock Performance

NYSE NUE opened at $154.69 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The stock has a 50-day moving average of $150.64 and a two-hundred day moving average of $153.42. The company has a market cap of $36.32 billion, a P/E ratio of 14.95 and a beta of 1.55. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.09. The firm had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. Nucor’s revenue was down 15.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.57 earnings per share. As a group, analysts anticipate that Nucor Co. will post 8.5 EPS for the current year.

Nucor Announces Dividend

The business 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 dividend yield of 1.40%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 20.87%.

Insider Buying and Selling

In related news, CFO Stephen D. Laxton sold 4,712 shares of Nucor stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the transaction, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. The trade was a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now 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. Over the last 90 days, insiders have sold 29,680 shares of company stock valued at $4,773,724. Corporate insiders own 0.46% of the company’s stock.

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.