Quantbot Technologies LP Makes New Investment in Nucor Corporation $NUE

Quantbot Technologies LP purchased a new stake in shares of Nucor Corporation (NYSE:NUE) in the 2nd quarter, HoldingsChannel reports. The firm purchased 2,606 shares of the basic materials company’s stock, valued at approximately $580,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Bell Investment Advisors Inc purchased a new stake in Nucor during the 2nd quarter valued at about $28,000. Strive Financial Group LLC purchased a new position in Nucor in the 4th quarter worth approximately $27,000. Stance Capital LLC bought a new stake in Nucor in the third quarter valued at approximately $25,000. Bartlett & CO. Wealth Management LLC lifted its position in Nucor by 49.2% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 191 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 63 shares during the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in shares of Nucor during the fourth quarter valued at approximately $32,000. 76.48% of the stock is owned by institutional investors.

Nucor Price Performance

Shares of Nucor stock opened at $252.19 on Friday. The business has a 50 day moving average of $246.51 and a 200 day moving average of $218.75. Nucor Corporation has a 52 week low of $131.32 and a 52 week high of $280.11. The company has a market cap of $57.21 billion, a PE ratio of 20.11, a P/E/G ratio of 0.94 and a beta of 1.89. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.38. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The business had revenue of $10.40 billion for the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter in the previous year, the business posted $2.60 earnings per share. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. As a group, equities research analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor’s dividend payout ratio is presently 17.86%.

Analyst Ratings Changes

NUE has been the topic of several recent analyst reports. BMO Capital Markets raised their target price on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. JPMorgan Chase & Co. upped their price target on shares of Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a report on Wednesday, June 10th. Seaport Research Partners increased their price target on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, June 10th. Bank of America cut their price target on shares of Nucor from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Morgan Stanley set a $270.00 price objective on shares of Nucor in a research report on Wednesday, July 29th. Thirteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Nucor has a consensus rating of “Moderate Buy” and a consensus price target of $272.38.

Insiders Place Their Bets

In other news, EVP Thomas J. Batterbee sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total value of $1,044,080.00. Following the completion of the transaction, the executive vice president owned 16,138 shares in the company, valued at $4,212,340.76. This trade represents a 19.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. This represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 18,528 shares of company stock worth $4,793,035 over the last three months. Company insiders own 0.62% of the company’s stock.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.