249,432 Shares in Nucor Corporation $NUE Acquired by PointState Capital LP

Key Points

• PointState Capital acquired 249,432 Nucor shares during the second quarter, valued at approximately $55.6 million and representing about 0.11% of the company. Institutional investors and hedge funds collectively own 76.48% of Nucor.
• Analysts remain broadly positive, with 12 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $272.38. Recent firms raised targets as high as $295.
• Nucor reported quarterly EPS of $4.84, beating estimates of $4.46, while revenue rose 23% year over year to $10.40 billion. The company also maintains a quarterly dividend of $0.56, or $2.24 annually, yielding about 0.9%.

PointState Capital LP acquired a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 249,432 shares of the basic materials company's stock, valued at approximately $55,561,000. PointState Capital LP owned approximately 0.11% of Nucor as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in NUE. Integrated Wealth Concepts LLC grew its holdings in shares of Nucor by 21.1% during the first quarter. Integrated Wealth Concepts LLC now owns 3,266 shares of the basic materials company's stock valued at $393,000 after buying an additional 568 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Nucor in the 1st quarter worth about $259,000. Geneos Wealth Management Inc. boosted its position in Nucor by 81.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock worth $41,000 after acquiring an additional 153 shares during the period. Sivia Capital Partners LLC acquired a new stake in Nucor during the 2nd quarter worth about $390,000. Finally, Cerity Partners LLC grew its stake in Nucor by 51.9% during the 2nd quarter. Cerity Partners LLC now owns 40,629 shares of the basic materials company's stock valued at $5,263,000 after acquiring an additional 13,877 shares in the last quarter. 76.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NUE has been the subject of several research reports. Seaport Research Partners raised their price target on shares of Nucor from $245.00 to $285.00 and gave the stock a "buy" rating in a report on Wednesday, June 10th. Bank of America dropped their price objective on shares of Nucor from $290.00 to $280.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. KeyCorp upgraded shares of Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 target price for the company in a research report on Wednesday, June 24th. BNP Paribas Exane lifted their target price on shares of Nucor from $210.00 to $248.00 and gave the company an "outperform" rating in a research note on Monday, May 4th. Finally, Barclays boosted their price target on shares of Nucor from $272.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $272.38.

Nucor Stock Up 2.1%

NUE stock opened at $252.69 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $280.11. The company has a 50-day moving average of $246.35 and a two-hundred day moving average of $218.33. The stock has a market capitalization of $57.33 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 0.92 and a beta of 1.89.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.46 by $0.38. The business had revenue of $10.40 billion for the quarter, compared to the consensus estimate of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. Nucor's quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the company posted $2.60 earnings per share. As a group, equities research analysts anticipate that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Dividend Announcement

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

Insider Buying and Selling

In other news, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total value of $2,729,337.60. Following the completion of the transaction, the executive vice president directly owned 97,865 shares of the company's stock, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas J. Batterbee sold 4,000 shares of the stock in a transaction 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 transaction, the executive vice president owned 16,138 shares of the company's stock, valued at $4,212,340.76. This represents a 19.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,528 shares of company stock valued at $4,793,035 over the last quarter. Corporate insiders own 0.62% of the company's stock.

Nucor 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.

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