WINTON GROUP Ltd Has $789,000 Stake in Nucor Corporation $NUE

WINTON GROUP Ltd lowered its stake in shares of Nucor Corporation (NYSE:NUE) by 90.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,540 shares of the basic materials company’s stock after selling 34,308 shares during the quarter. WINTON GROUP Ltd’s holdings in Nucor were worth $789,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in NUE. California State Teachers Retirement System lifted its position in Nucor by 23,029.6% during the second quarter. California State Teachers Retirement System now owns 61,424,649 shares of the basic materials company’s stock worth $13,682,341,000 after purchasing an additional 61,159,082 shares during the period. BlackRock Inc. acquired a new stake in Nucor during the second quarter worth about $4,452,563,000. Norges Bank bought a new position in Nucor in the 4th quarter valued at about $609,002,000. Bank of America Corp DE bought a new position in Nucor in the second quarter valued at approximately $462,886,000. Finally, Berkshire Hathaway Inc acquired a new position in Nucor during the second quarter valued at approximately $413,814,000. Institutional investors own 76.48% of the company’s stock.

Insider Activity at Nucor

In other news, COO Stephen D. Laxton sold 3,968 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $1,044,080.00. Following the completion of the transaction, the executive vice president owned 16,138 shares in the company, valued at $4,212,340.76. This trade represents a 19.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NUE. Citigroup restated a “buy” rating on shares of Nucor in a research note on Wednesday, July 29th. Morgan Stanley set a $270.00 price target on Nucor in a report on Wednesday, July 29th. Zacks Research cut Nucor from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. KeyCorp raised Nucor from a “sector weight” rating to an “overweight” rating and set a $274.00 target price for the company in a research note on Wednesday, June 24th. Finally, BMO Capital Markets increased their target price on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and an average target price of $274.38.

Nucor Stock Down 1.8%

Shares of NYSE:NUE opened at $254.68 on Tuesday. The firm has a market cap of $57.78 billion, a P/E ratio of 20.31, a P/E/G ratio of 0.93 and a beta of 1.87. Nucor Corporation has a 12-month low of $131.32 and a 12-month high of $280.11. The business has a fifty day simple moving average of $252.35 and a 200 day simple moving average of $224.86. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. The firm had revenue of $10.40 billion for 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.60 EPS. Analysts predict that Nucor Corporation will post 18.52 earnings per share for the current year.

Nucor Profile

Nucor Corporation is a Charlotte, North Carolina-based steel and steel products company. It manufactures carbon, alloy and stainless steel products, including sheet, plate, bar, structural steel, rail, wire rod, rebar and merchant bar. The company also produces steel joists, deck, beams, piling, wire products, fasteners, grating, metal building systems and other fabricated steel products.

Nucor operates an integrated network of electric arc furnace steel mills, recycling facilities and downstream manufacturing operations.