Weiss Asset Management LP Purchases Shares of 74,625 Nucor Co. (NYSE:NUE)

Weiss Asset Management LP purchased a new stake in shares of Nucor Co. (NYSE:NUE – Get Rating) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 74,625 shares of the basic materials company’s stock, valued at approximately $7,984,000.

Other hedge funds have also added to or reduced their stakes in the company. Lumature Wealth Partners LLC lifted its holdings in shares of Nucor by 4.0% during the third quarter. Lumature Wealth Partners LLC now owns 1,983 shares of the basic materials company’s stock worth $212,000 after buying an additional 76 shares in the last quarter. Retirement Guys Formula LLC lifted its holdings in shares of Nucor by 1.9% during the third quarter. Retirement Guys Formula LLC now owns 4,135 shares of the basic materials company’s stock worth $442,000 after buying an additional 79 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Nucor by 2.0% during the third quarter. SRS Capital Advisors Inc. now owns 4,088 shares of the basic materials company’s stock worth $437,000 after buying an additional 81 shares in the last quarter. Equitable Holdings Inc. lifted its holdings in shares of Nucor by 4.0% during the third quarter. Equitable Holdings Inc. now owns 2,092 shares of the basic materials company’s stock worth $224,000 after buying an additional 81 shares in the last quarter. Finally, Laidlaw Wealth Management LLC lifted its holdings in shares of Nucor by 2.0% during the third quarter. Laidlaw Wealth Management LLC now owns 4,301 shares of the basic materials company’s stock worth $460,000 after buying an additional 85 shares in the last quarter. Institutional investors and hedge funds own 78.33% of the company’s stock.

Insider Transactions at Nucor

In related news, CEO Leon J. Topalian sold 3,000 shares of Nucor stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $134.71, for a total value of $404,130.00. Following the transaction, the chief executive officer now directly owns 126,809 shares of the company’s stock, valued at $17,082,440.39. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Nucor news, CEO Leon J. Topalian sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $134.71, for a total value of $404,130.00. Following the transaction, the chief executive officer now directly owns 126,809 shares of the company’s stock, valued at $17,082,440.39. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kenneth Rex Query sold 1,962 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $177.99, for a total value of $349,216.38. Following the completion of the transaction, the executive vice president now directly owns 74,138 shares in the company, valued at $13,195,822.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,575 shares of company stock worth $2,034,130. Insiders own 0.46% of the company’s stock.

Nucor Stock Performance

Nucor stock opened at $144.12 on Friday. Nucor Co. has a 12-month low of $100.13 and a 12-month high of $187.90. The company has a quick ratio of 2.13, a current ratio of 3.39 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $162.85 and its two-hundred day moving average price is $143.07. The stock has a market cap of $36.31 billion, a PE ratio of 5.02 and a beta of 1.59.

Nucor (NYSE:NUE – Get Rating) last released its earnings results on Thursday, January 26th. The basic materials company reported $4.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.18 by $0.71. The firm had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.54 billion. Nucor had a return on equity of 42.03% and a net margin of 18.33%. The business’s revenue for the quarter was down 15.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.97 earnings per share. As a group, analysts expect that Nucor Co. will post 14.35 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 11th. Stockholders of record on Friday, March 31st will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, March 30th. Nucor’s dividend payout ratio (DPR) is currently 7.10%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NUE. StockNews.com initiated coverage on Nucor in a report on Thursday. They set a “hold” rating for the company. BMO Capital Markets boosted their price target on Nucor from $155.00 to $165.00 and gave the company a “market perform” rating in a research note on Friday, January 27th. UBS Group boosted their price target on Nucor from $120.00 to $145.00 and gave the company a “neutral” rating in a research note on Tuesday, December 6th. The Goldman Sachs Group boosted their price target on Nucor from $144.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, March 10th. Finally, Morgan Stanley boosted their price target on Nucor from $113.00 to $122.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Nucor currently has an average rating of “Hold” and a consensus price target of $153.44.

Nucor Profile

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Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment consists of carbon and alloy steel in sheet, bars, structural and plate, steel trading businesses, rebar distribution businesses, and Nucor’s equity method investments.