Nucor Co. (NYSE:NUE) Shares Purchased by Qsemble Capital Management LP
by Mitch Edgeman · The Markets DailyQsemble Capital Management LP raised its position in Nucor Co. (NYSE:NUE – Free Report) by 46.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,841 shares of the basic materials company’s stock after buying an additional 5,012 shares during the quarter. Qsemble Capital Management LP’s holdings in Nucor were worth $2,382,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of NUE. Dimensional Fund Advisors LP raised its position in Nucor by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock valued at $617,915,000 after purchasing an additional 84,558 shares during the last quarter. Pacer Advisors Inc. increased its stake in Nucor by 19.8% in the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock valued at $519,648,000 after purchasing an additional 571,682 shares during the period. Legal & General Group Plc raised its holdings in shares of Nucor by 3.2% in the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock valued at $341,580,000 after buying an additional 67,974 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Nucor by 2.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company’s stock worth $242,381,000 after buying an additional 45,467 shares during the period. Finally, Mizuho Securities USA LLC grew its holdings in shares of Nucor by 8,530.1% during the third quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock worth $239,819,000 after buying an additional 1,576,695 shares during the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.
Nucor Price Performance
Nucor stock opened at $153.44 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $36.03 billion, a PE ratio of 14.83 and a beta of 1.55. The firm’s 50-day simple moving average is $149.88 and its 200 day simple moving average is $153.81. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00.
Nucor (NYSE:NUE – Get Free Report) last announced its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 12.06% and a net margin of 8.05%. Nucor’s quarterly revenue was down 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.57 EPS. On average, equities research analysts predict that Nucor Co. will post 8.52 EPS for the current fiscal year.
Nucor Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.41%. Nucor’s dividend payout ratio is currently 20.87%.
Analyst Ratings Changes
NUE has been the topic of several analyst reports. Morgan Stanley lowered their target price on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. BMO Capital Markets lowered their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $190.57.
Insider Transactions at Nucor
In other news, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the sale, the chief executive officer now owns 172,136 shares in the company, valued at $29,109,918.96. This trade represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Allen C. Behr sold 4,968 shares of Nucor stock in a transaction on Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the completion of the sale, the executive vice president now directly owns 85,376 shares of the company’s stock, valued at approximately $13,636,254.72. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock worth $4,773,724 over the last ninety days. 0.64% of the stock is currently owned by corporate insiders.
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.
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