Nucor Co. (NYSE:NUE) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its stake in shares of Nucor Co. (NYSE:NUE) by 188.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,294 shares of the basic materials company’s stock after acquiring an additional 30,879 shares during the period. SG Americas Securities LLC’s holdings in Nucor were worth $7,110,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Czech National Bank grew its holdings in Nucor by 5.8% during the third quarter. Czech National Bank now owns 48,348 shares of the basic materials company’s stock worth $7,269,000 after acquiring an additional 2,659 shares during the period. Cascade Investment Advisors Inc. grew its holdings in Nucor by 2.7% during the third quarter. Cascade Investment Advisors Inc. now owns 10,385 shares of the basic materials company’s stock worth $1,561,000 after acquiring an additional 270 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group grew its holdings in Nucor by 2.5% during the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 7,511 shares of the basic materials company’s stock worth $1,187,000 after acquiring an additional 184 shares during the period. Sanctuary Advisors LLC acquired a new stake in Nucor during the second quarter worth about $7,248,000. Finally, Ariadne Wealth Management LP acquired a new stake in Nucor during the second quarter worth about $3,359,000. 76.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Daniel R. Needham sold 8,624 shares of Nucor stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.46% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NUE. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Morgan Stanley dropped their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets dropped their price objective on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. Bank of America dropped their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised Nucor from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $170.00 to $174.00 in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nucor presently has an average rating of “Moderate Buy” and a consensus target price of $192.00.

Nucor Stock Performance

NYSE NUE opened at $151.44 on Friday. The company has a market cap of $36.31 billion, a PE ratio of 8.91 and a beta of 1.55. The stock’s 50 day simple moving average is $147.33 and its 200-day simple moving average is $163.53. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.93 and a quick ratio of 1.85.

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 the consensus estimate of $2.31 by $0.37. The business had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The business’s quarterly revenue was down 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.81 earnings per share. As a group, equities research analysts anticipate that Nucor Co. will post 9.28 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.43%. Nucor’s dividend payout ratio (DPR) is presently 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.