V Square Quantitative Management LLC Increases Stock Position in Nucor Co. (NYSE:NUE)

V Square Quantitative Management LLC boosted its position in shares of Nucor Co. (NYSE:NUE) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,352 shares of the basic materials company’s stock after purchasing an additional 286 shares during the period. V Square Quantitative Management LLC’s holdings in Nucor were worth $805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Nucor by 2.9% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 32,256 shares of the basic materials company’s stock valued at $4,849,000 after acquiring an additional 907 shares in the last quarter. Ellsworth Advisors LLC boosted its holdings in Nucor by 1.4% in the third quarter. Ellsworth Advisors LLC now owns 14,045 shares of the basic materials company’s stock valued at $2,111,000 after purchasing an additional 198 shares during the last quarter. Trust Co. of Vermont grew its stake in Nucor by 2.4% during the 3rd quarter. Trust Co. of Vermont now owns 3,696 shares of the basic materials company’s stock valued at $556,000 after purchasing an additional 87 shares in the last quarter. Good Life Advisors LLC increased its holdings in Nucor by 13.5% during the 3rd quarter. Good Life Advisors LLC now owns 1,597 shares of the basic materials company’s stock worth $240,000 after purchasing an additional 190 shares during the last quarter. Finally, SPC Financial Inc. raised its position in shares of Nucor by 1.7% in the 3rd quarter. SPC Financial Inc. now owns 9,051 shares of the basic materials company’s stock valued at $1,361,000 after purchasing an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NUE shares. BMO Capital Markets dropped their price target on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Bank of America dropped their target price on shares of Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, June 26th. JPMorgan Chase & Co. reduced their price target on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley lowered their price objective on Nucor from $176.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Finally, Argus raised Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.43.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the completion of the transaction, the executive vice president now directly owns 99,049 shares in the company, valued at approximately $15,847,840. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.64% of the stock is owned by company insiders.

Nucor Stock Up 0.1 %

NYSE:NUE opened at $158.24 on Friday. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $147.44 and a 200-day moving average of $160.75. The firm has a market capitalization of $37.56 billion, a PE ratio of 11.41 and a beta of 1.55. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00.

Nucor (NYSE:NUE) last issued its earnings results on Monday, July 22nd. The basic materials company reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a return on equity of 15.69% and a net margin of 10.45%. The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same period last year, the company earned $5.81 earnings per share. The firm’s revenue for the quarter was down 15.2% on a year-over-year basis. Analysts predict that Nucor Co. will post 9.08 EPS for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 15.57%.

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.