16,411 Nucor Corporation $NUE Shares Acquired by Strid Group LLC

Strid Group LLC boosted its stake in Nucor Corporation (NYSE:NUE) by 25.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,770 shares of the basic materials company’s stock after purchasing an additional 16,411 shares during the period. Nucor makes up approximately 2.1% of Strid Group LLC’s holdings, making the stock its 7th largest position. Strid Group LLC’s holdings in Nucor were worth $19,114,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NUE. BlackRock Inc. bought a new position in shares of Nucor during the 2nd quarter valued at $4,452,563,000. Bank of America Corp DE bought a new stake in shares of Nucor in the second quarter worth $462,886,000. Dimensional Fund Advisors LP grew its holdings in shares of Nucor by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock worth $429,298,000 after acquiring an additional 22,718 shares during the period. Berkshire Hathaway Inc bought a new stake in shares of Nucor in the second quarter worth $413,814,000. Finally, Bank of New York Mellon Corp purchased a new stake in Nucor during the second quarter valued at $330,902,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Nucor

In related news, EVP Noah Hanners sold 5,190 shares of the business’s stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $275.03, for a total transaction of $1,427,405.70. Following the completion of the transaction, the executive vice president directly owned 44,073 shares in the company, valued at approximately $12,121,397.19. The trade was a 10.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas Batterbee sold 4,000 shares of the 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 sale, the executive vice president directly owned 16,138 shares of the company’s stock, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.62% of the stock is owned by insiders.

Nucor Trading Down 0.7%

Shares of NUE stock opened at $273.47 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.36. The company has a market cap of $62.04 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 0.68 and a beta of 1.84. Nucor Corporation has a 1 year low of $140.93 and a 1 year high of $280.11. The firm has a fifty day moving average price of $253.79 and a 200-day moving average price of $223.43.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 26th. The basic materials company reported $5.80 earnings per share for the quarter, missing the consensus estimate of $5.84 by ($0.04). Nucor had a net margin of 9.26% and a return on equity of 15.53%. The company had revenue of $11.25 billion for the quarter, compared to analysts’ expectations of $10.84 billion. During the same quarter last year, the firm posted $2.63 earnings per share. Nucor’s revenue for the quarter was up 32.0% on a year-over-year basis. As a group, equities analysts predict that Nucor Corporation will post 19.61 earnings per share for the current year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Nucor’s payout ratio is presently 14.26%.

Analyst Ratings Changes

NUE has been the topic of a number of recent research reports. Citigroup reissued a “buy” rating on shares of Nucor in a report on Wednesday, July 29th. The Goldman Sachs Group restated a “buy” rating and set a $335.00 price target on shares of Nucor in a research note on Wednesday. Freedom Broker lowered shares of Nucor from a “buy” rating to a “hold” rating and reduced their price target for the company from $305.00 to $285.00 in a research report on Friday, September 18th. Weiss Ratings upgraded shares of Nucor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 15th. Finally, Wells Fargo & Company increased their price objective on shares of Nucor from $280.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $284.00.

Nucor Profile

Nucor Corporation is a steel producer headquartered in Charlotte, North Carolina. Through its operating subsidiaries, the company manufactures steel and steel products for customers in construction, automotive, energy, heavy equipment, transportation and other industrial markets.

Nucor’s operations include electric arc furnace steel mills, which produce carbon, alloy and galvanized steel products. Its product portfolio includes sheet steel, plate, beams, bars, wire and wire mesh, steel joists, deck, piling, fabricated concrete reinforcing steel and other downstream products.