Nucor Co. (NYSE:NUE) Shares Purchased by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd raised its position in Nucor Co. (NYSE:NUE) by 362.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,201 shares of the basic materials company’s stock after buying an additional 94,186 shares during the period. Nucor comprises 0.9% of Point72 Hong Kong Ltd’s investment portfolio, making the stock its 28th biggest position. Point72 Hong Kong Ltd owned approximately 0.05% of Nucor worth $14,029,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Czech National Bank boosted its position in shares of Nucor by 5.3% during the 4th quarter. Czech National Bank now owns 50,913 shares of the basic materials company’s stock valued at $5,942,000 after acquiring an additional 2,565 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in Nucor by 339.2% during the 4th quarter. Capital Investment Advisors LLC now owns 6,157 shares of the basic materials company’s stock worth $719,000 after acquiring an additional 4,755 shares in the last quarter. Eastern Bank boosted its holdings in Nucor by 13.7% in the fourth quarter. Eastern Bank now owns 2,283 shares of the basic materials company’s stock valued at $266,000 after purchasing an additional 275 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in Nucor by 47.2% in the fourth quarter. AdvisorNet Financial Inc now owns 758 shares of the basic materials company’s stock valued at $88,000 after acquiring an additional 243 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Nucor in the fourth quarter valued at approximately $163,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NUE shares. Jefferies Financial Group upped their price target on Nucor from $125.00 to $135.00 and gave the stock a “hold” rating in a research note on Wednesday, January 29th. Argus set a $155.00 price objective on Nucor in a report on Wednesday, March 5th. StockNews.com lowered shares of Nucor from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on Nucor from $156.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, Morgan Stanley set a $164.00 price target on Nucor in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Nucor presently has a consensus rating of “Moderate Buy” and an average price target of $160.33.

Nucor Stock Performance

NUE opened at $117.13 on Thursday. The company has a market cap of $27.00 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73. Nucor Co. has a 52-week low of $97.59 and a 52-week high of $176.59. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.48 and a current ratio of 2.51. The stock has a 50-day moving average of $118.20 and a 200-day moving average of $129.03.

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

Nucor Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Monday, March 31st were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Monday, March 31st. Nucor’s dividend payout ratio (DPR) 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.