Nucor Co. (NYSE:NUE) Shares Bought by Centiva Capital LP

Centiva Capital LP lifted its position in shares of Nucor Co. (NYSE:NUE) by 306.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,796 shares of the basic materials company’s stock after buying an additional 10,403 shares during the quarter. Centiva Capital LP’s holdings in Nucor were worth $1,610,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in shares of Nucor in the fourth quarter valued at about $25,000. Crews Bank & Trust acquired a new stake in Nucor during the 4th quarter valued at $29,000. New Wave Wealth Advisors LLC purchased a new position in Nucor during the fourth quarter worth $33,000. Beacon Capital Management LLC raised its holdings in shares of Nucor by 29.1% in the fourth quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 94 shares during the last quarter. Finally, Millstone Evans Group LLC purchased a new stake in shares of Nucor in the fourth quarter valued at $50,000. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Nucor

In other news, CEO Leon J. Topalian sold 34,238 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the transaction, the chief executive officer now directly owns 162,993 shares of the company’s stock, valued at approximately $19,590,128.67. The trade was a 17.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.46% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group reduced their price objective on shares of Nucor from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Jefferies Financial Group boosted their price target on Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a report on Wednesday, January 29th. Morgan Stanley set a $164.00 price objective on Nucor in a report on Monday, March 24th. Finally, Argus set a $155.00 target price on Nucor in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $160.33.

Nucor Price Performance

NUE stock opened at $115.17 on Thursday. The company has a market cap of $26.55 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $119.70 and a two-hundred day moving average price of $130.00. Nucor Co. has a 12-month low of $97.59 and a 12-month high of $176.59.

Nucor (NYSE:NUE) last issued its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.15). The firm had revenue of $7.83 billion for the quarter, compared to analysts’ expectations of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.46 EPS. As a group, research analysts predict that Nucor Co. will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be issued a $0.55 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.20 annualized dividend and a yield of 1.91%. Nucor’s dividend payout ratio is currently 39.15%.

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.