Quantbot Technologies LP Takes $580,000 Position in Nucor Corporation $NUE

Quantbot Technologies LP bought a new position in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,606 shares of the basic materials company’s stock, valued at approximately $580,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Evolve Private Wealth LLC acquired a new position in Nucor during the 2nd quarter valued at about $939,000. Westpac Banking Corp purchased a new stake in shares of Nucor in the second quarter worth approximately $74,000. Sumitomo Life Insurance Co. purchased a new stake in shares of Nucor in the second quarter worth approximately $1,234,000. Korea Investment CORP bought a new position in shares of Nucor in the second quarter valued at approximately $56,298,000. Finally, EP Wealth Advisors LLC purchased a new position in shares of Nucor during the second quarter valued at approximately $1,926,000. Institutional investors and hedge funds own 76.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Nucor from $240.00 to $282.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Zacks Research cut Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings raised shares of Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. Wells Fargo & Company reduced their target price on shares of Nucor from $297.00 to $285.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Citigroup reiterated a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average price target of $272.38.

Insider Activity

In other news, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the sale, the executive vice president directly owned 16,138 shares in the company, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,528 shares of company stock worth $4,793,035 over the last ninety days. Company insiders own 0.62% of the company’s stock.

Nucor Stock Performance

Shares of NUE opened at $252.19 on Friday. The stock has a 50 day moving average of $246.51 and a 200 day moving average of $218.75. The company has a market capitalization of $57.21 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 0.94 and a beta of 1.89. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. 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 (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, beating the consensus estimate of $4.46 by $0.38. The firm had revenue of $10.40 billion during the quarter, compared to analyst estimates of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business’s revenue was up 23.0% compared to the same quarter last year. During the same period last year, the firm posted $2.60 EPS. As a group, sell-side analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were given a $0.56 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. Nucor’s payout ratio is 17.86%.

Nucor Company Profile

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.