5,285 Shares in Nucor Corporation $NUE Bought by AlphaGrep UK Ltd

AlphaGrep UK Ltd acquired a new position in shares of Nucor Corporation (NYSE:NUE - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,285 shares of the basic materials company's stock, valued at approximately $1,177,000. Nucor makes up about 0.4% of AlphaGrep UK Ltd's investment portfolio, making the stock its 26th biggest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Transamerica Financial Advisors LLC purchased a new position in Nucor in the 2nd quarter worth $25,000. Manning & Napier Advisors LLC bought a new position in shares of Nucor during the second quarter valued at about $27,000. Bell Investment Advisors Inc bought a new position in shares of Nucor during the second quarter valued at about $28,000. Markowski Investments purchased a new position in shares of Nucor in the second quarter worth about $29,000. Finally, Strive Financial Group LLC bought a new stake in shares of Nucor in the 4th quarter valued at about $27,000. 76.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. 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. Zacks Research cut shares of Nucor from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Morgan Stanley set a $270.00 target price on shares of Nucor in a report on Wednesday, July 29th. Weiss Ratings raised Nucor from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 25th. Finally, CICC Research began coverage on Nucor in a report on Monday, May 25th. They set an "outperform" rating on the stock. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $272.38.

Nucor Stock Performance

Shares of NYSE NUE opened at $260.98 on Friday. The firm's 50-day moving average price is $248.16 and its 200-day moving average price is $221.33. The company has a quick ratio of 1.36, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The company has a market cap of $59.21 billion, a PE ratio of 20.81, a PEG ratio of 0.97 and a beta of 1.87. Nucor Corporation has a 52-week low of $131.32 and a 52-week high of $280.11.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $10.40 billion during the quarter, compared to analysts' expectations of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm's quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.60 earnings per share. As a group, analysts anticipate that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were issued 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 (DPR) is currently 17.86%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Thomas J. Batterbee sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the sale, the executive vice president owned 16,138 shares in the company, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $1,019,617.28. Following the transaction, the chief operating officer directly owned 77,867 shares in the company, valued at $20,008,704.32. This represents a 4.85% decrease in their position. The SEC filing for this sale provides additional information. 0.62% of the stock is currently owned by insiders.

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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