Regal Partners Ltd Takes $13.15 Million Position in Nucor Co. (NYSE:NUE)

Regal Partners Ltd bought a new stake in Nucor Co. (NYSE:NUE) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 87,445 shares of the basic materials company’s stock, valued at approximately $13,146,000. Nucor makes up approximately 1.2% of Regal Partners Ltd’s portfolio, making the stock its 24th largest position.

Several other institutional investors also recently modified their holdings of NUE. National Pension Service lifted its stake in Nucor by 3.2% in the third quarter. National Pension Service now owns 652,502 shares of the basic materials company’s stock valued at $98,097,000 after purchasing an additional 20,258 shares during the last quarter. CX Institutional lifted its stake in Nucor by 52.8% in the second quarter. CX Institutional now owns 17,245 shares of the basic materials company’s stock valued at $2,726,000 after purchasing an additional 5,960 shares during the last quarter. Banco Santander S.A. lifted its stake in Nucor by 86.2% in the first quarter. Banco Santander S.A. now owns 12,895 shares of the basic materials company’s stock valued at $2,552,000 after purchasing an additional 5,971 shares during the last quarter. Ascension Asset Management LLC purchased a new position in Nucor in the second quarter valued at approximately $885,000. Finally, Kimelman & Baird LLC purchased a new position in Nucor in the second quarter valued at approximately $6,655,000. 76.48% of the stock is owned by institutional investors.

Insider Activity at Nucor

In related news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total value of $798,825.36. Following the transaction, the chief financial officer now owns 82,132 shares of the company’s stock, valued at $13,923,837.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total value of $1,860,210.00. Following the completion of the transaction, the chief executive officer now directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,680 shares of company stock valued at $4,773,724 over the last 90 days. 0.46% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley dropped their target price on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. dropped their target price on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their target price on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $190.57.

Nucor Trading Down 1.1 %

Nucor stock opened at $152.22 on Thursday. The stock has a market cap of $35.74 billion, a P/E ratio of 14.71 and a beta of 1.55. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The firm’s fifty day moving average price is $148.37 and its 200-day moving average price is $155.24. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59.

Nucor (NYSE:NUE) last released its quarterly 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. The firm had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.57 earnings per share. Equities research analysts forecast that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.42%. Nucor’s dividend payout ratio is presently 20.87%.

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.