Maple Rock Capital Partners Inc. Has $136.77 Million Holdings in Nucor Corporation $NUE

Maple Rock Capital Partners Inc. increased its position in Nucor Corporation (NYSE:NUE) by 423.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 614,000 shares of the basic materials company’s stock after acquiring an additional 496,788 shares during the period. Nucor comprises 2.7% of Maple Rock Capital Partners Inc.’s investment portfolio, making the stock its 10th biggest position. Maple Rock Capital Partners Inc.’s holdings in Nucor were worth $136,768,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NUE. Transamerica Financial Advisors LLC acquired a new stake in Nucor in the second quarter valued at approximately $25,000. Manning & Napier Advisors LLC acquired a new position in shares of Nucor during the 2nd quarter worth $27,000. Bell Investment Advisors Inc acquired a new position in shares of Nucor during the 2nd quarter worth $28,000. Strive Financial Group LLC bought a new position in shares of Nucor during the 4th quarter valued at $27,000. Finally, Stance Capital LLC bought a new position in shares of Nucor during the 3rd quarter valued at $25,000. Institutional investors own 76.48% of the company’s stock.

Analyst Ratings Changes

NUE has been the subject of a number of recent research reports. Seaport Research Partners upped their price objective on shares of Nucor from $245.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, June 10th. Barclays raised their target price on Nucor from $272.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. The Goldman Sachs Group boosted 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. Weiss Ratings upgraded Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 25th. Finally, BNP Paribas Exane increased their price objective on Nucor from $210.00 to $248.00 and gave the company an “outperform” rating in a report on Monday, May 4th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Nucor currently has a consensus rating of “Moderate Buy” and an average price target of $272.38.

Insider Buying and Selling at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of Nucor stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the transaction, the executive vice president directly owned 97,865 shares of the company’s stock, valued at $25,294,187.90. The trade was a 9.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,528 shares of company stock valued at $4,793,035 in the last 90 days. 0.62% of the stock is currently owned by insiders.

Nucor Stock Performance

Shares of NUE opened at $249.61 on Tuesday. The company has a market capitalization of $56.63 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 0.93 and a beta of 1.89. Nucor Corporation has a one year low of $131.32 and a one year 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’s fifty day moving average price is $246.74 and its 200 day moving average price is $219.56.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. The company had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.60 earnings per share. As a group, analysts expect that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were issued a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. Nucor’s dividend payout ratio (DPR) 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.