Nucor Co. (NYSE:NUE) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd grew its position in shares of Nucor Co. (NYSE:NUE) by 333.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,206 shares of the basic materials company’s stock after acquiring an additional 13,234 shares during the quarter. XTX Topco Ltd’s holdings in Nucor were worth $2,720,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in Nucor during the first quarter worth approximately $27,000. Chilton Capital Management LLC boosted its stake in shares of Nucor by 94.2% during the 1st quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 65 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Nucor during the first quarter worth $28,000. Tompkins Financial Corp boosted its holdings in shares of Nucor by 208.0% in the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after buying an additional 104 shares during the period. Finally, Salomon & Ludwin LLC acquired a new position in Nucor in the 1st quarter worth approximately $31,000. Institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling at Nucor

In related news, EVP Daniel R. Needham sold 8,624 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the sale, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Morgan Stanley lowered their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. upgraded Nucor from a “neutral” rating to an “overweight” rating and raised their target price for the company from $170.00 to $174.00 in a report on Monday, September 9th. Argus upgraded Nucor to a “strong-buy” rating in a research note on Monday, August 26th. BMO Capital Markets lowered their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday. Finally, Bank of America decreased their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $192.00.

Nucor Price Performance

Nucor stock opened at $143.00 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The stock has a market capitalization of $34.29 billion, a P/E ratio of 8.41 and a beta of 1.55. The stock has a fifty day moving average of $150.15 and a 200-day moving average of $166.56.

Nucor (NYSE:NUE) last released its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the prior year, the firm posted $5.81 EPS. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. On average, sell-side analysts expect that Nucor Co. will post 9.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be paid a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 1.51%. Nucor’s payout ratio is 12.71%.

About Nucor

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.