GSA Capital Partners LLP Invests $239,000 in Nucor Co. (NYSE:NUE)

GSA Capital Partners LLP acquired a new stake in Nucor Co. (NYSE:NUE) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,593 shares of the basic materials company’s stock, valued at approximately $239,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in Nucor by 29.7% during the second quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after buying an additional 660,866 shares during the period. Ceredex Value Advisors LLC acquired a new position in Nucor during the third quarter worth approximately $74,829,000. International Assets Investment Management LLC raised its stake in Nucor by 14,525.9% during the third quarter. International Assets Investment Management LLC now owns 326,889 shares of the basic materials company’s stock worth $49,144,000 after purchasing an additional 324,654 shares during the period. Swedbank AB acquired a new position in shares of Nucor in the 1st quarter valued at $37,395,000. Finally, Captrust Financial Advisors grew its stake in shares of Nucor by 23.5% during the 1st quarter. Captrust Financial Advisors now owns 804,150 shares of the basic materials company’s stock valued at $159,141,000 after buying an additional 153,077 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Trading Up 1.3 %

NYSE:NUE opened at $151.92 on Friday. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The business’s 50-day simple moving average is $149.67 and its 200 day simple moving average is $154.07. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59. The stock has a market cap of $35.67 billion, a price-to-earnings ratio of 14.68 and a beta of 1.55.

Nucor (NYSE:NUE) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter in the previous year, the firm earned $4.57 EPS. The company’s revenue was down 15.2% on a year-over-year basis. As a group, sell-side analysts predict that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 20.87%.

Insider Activity

In related news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total value of $1,321,200.00. Following the completion of the sale, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 8.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $159.72, for a total transaction of $793,488.96. Following the completion of the transaction, the executive vice president now directly owns 85,376 shares in the company, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Morgan Stanley lowered their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, BMO Capital Markets decreased their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Nucor currently has a consensus rating of “Moderate Buy” and a consensus target price of $190.57.

Nucor Company Profile

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.