FNY Investment Advisers LLC Takes Position in Nucor Corporation $NUE

FNY Investment Advisers LLC purchased a new position in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,000 shares of the basic materials company’s stock, valued at approximately $445,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stance Capital LLC purchased a new position in Nucor during the 3rd quarter valued at about $25,000. Strive Financial Group LLC acquired a new position in Nucor during the fourth quarter worth about $27,000. Motiv8 Investments LLC acquired a new position in Nucor during the fourth quarter worth about $32,000. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Nucor by 49.2% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 63 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in shares of Nucor in the fourth quarter valued at about $32,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NUE shares. Zacks Research cut shares of Nucor from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 29th. Weiss Ratings raised Nucor from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. increased their target price on Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. The Goldman Sachs Group raised their price target on Nucor from $260.00 to $284.00 and gave the stock a “buy” rating in a research report on Tuesday, June 16th. Finally, Jefferies Financial Group boosted their price target on Nucor from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Twelve research 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $273.31.

Nucor Trading Up 0.3%

NYSE NUE opened at $272.89 on Friday. The company has a market cap of $62.15 billion, a P/E ratio of 21.76, a P/E/G ratio of 0.60 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 debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. The company has a 50-day moving average of $245.67 and a 200-day moving average of $210.80.

Nucor (NYSE:NUE) last released 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 net margin of 7.99% and a return on equity of 12.73%. 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 company earned $2.60 earnings per share. The company’s quarterly revenue was up 23.0% on a year-over-year basis. As a group, equities analysts predict that Nucor Corporation will post 18.02 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Nucor’s dividend payout ratio (DPR) is 17.86%.

Insider Activity at Nucor

In related news, EVP Randy J. Spicer sold 2,500 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $225.00, for a total value of $562,500.00. Following the transaction, the executive vice president directly owned 20,510 shares of the company’s stock, valued at approximately $4,614,750. This trade represents a 10.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the completion of the transaction, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,028 shares of company stock worth $5,355,535 in the last 90 days. Company insiders own 0.62% of the company’s stock.

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.