GSA Capital Partners LLP Acquires New Stake in Nucor Corporation $NUE

GSA Capital Partners LLP purchased a new stake in shares of Nucor Corporation (NYSE:NUE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,113 shares of the basic materials company’s stock, valued at approximately $916,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Stance Capital LLC purchased a new position in Nucor during the third quarter valued at approximately $25,000. Strive Financial Group LLC bought a new position in Nucor in the 4th quarter worth about $27,000. Motiv8 Investments LLC purchased a new stake in shares of Nucor in the 4th quarter valued at about $32,000. Bartlett & CO. Wealth Management LLC grew its holdings in shares of Nucor by 49.2% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Nucor in the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Activity at Nucor

In related news, EVP Thomas J. Batterbee sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the transaction, the executive vice president directly owned 16,138 shares of the company’s stock, valued at approximately $4,212,340.76. The trade was a 19.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares in the company, valued at approximately $20,008,704.32. The trade was a 4.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 18,528 shares of company stock worth $4,793,035. 0.62% of the stock is owned by company insiders.

Nucor Trading Down 2.9%

Shares of NUE stock opened at $264.74 on Wednesday. The stock has a market capitalization of $60.06 billion, a P/E ratio of 21.11, a P/E/G ratio of 0.60 and a beta of 1.89. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11. The firm’s 50 day moving average is $247.76 and its 200 day moving average is $215.68.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same period last year, the firm posted $2.60 earnings per share. The business’s revenue for the quarter was up 23.0% on a year-over-year basis. Research analysts expect that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were given a dividend of $0.56 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.8%. Nucor’s payout ratio is 17.86%.

Wall Street Analyst Weigh In

NUE has been the subject of several research analyst reports. Wall Street Zen raised Nucor from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. upped their price target on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research report on Wednesday, June 10th. Barclays boosted their target price on Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Zacks Research cut Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Finally, CICC Research began coverage on Nucor in a report on Monday, May 25th. They set an “outperform” rating on the stock. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $273.31.

About Nucor

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.