Acadian Asset Management LLC Has $4.07 Million Stake in Nucor Corporation $NUE

Key Points

• Acadian Asset Management LLC has reduced its holdings in Nucor Corporation by 7.9%, now owning 33,802 shares worth approximately $4.07 million.
• Nucor recently reported an EPS of $2.60 for the last quarter, exceeding expectations, with revenues of $8.46 billion.
• The company announced a quarterly dividend of $0.55 per share, reflecting an annualized yield of 1.6% for shareholders.

Acadian Asset Management LLC trimmed its position in Nucor Corporation (NYSE:NUE - Free Report) by 7.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,802 shares of the basic materials company's stock after selling 2,887 shares during the quarter. Acadian Asset Management LLC's holdings in Nucor were worth $4,065,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Geneos Wealth Management Inc. raised its stake in shares of Nucor by 81.8% in the first quarter. Geneos Wealth Management Inc. now owns 340 shares of the basic materials company's stock valued at $41,000 after purchasing an additional 153 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Nucor by 3.5% in the first quarter. Focus Partners Wealth now owns 16,500 shares of the basic materials company's stock valued at $1,986,000 after purchasing an additional 559 shares in the last quarter. Integrity Alliance LLC. acquired a new position in shares of Nucor in the first quarter valued at $356,000. Anchor Investment Management LLC raised its stake in shares of Nucor by 14.7% in the first quarter. Anchor Investment Management LLC now owns 2,821 shares of the basic materials company's stock valued at $339,000 after purchasing an additional 362 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new position in shares of Nucor in the first quarter valued at $295,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Price Performance

Shares of NUE stock opened at $141.47 on Monday. The stock's fifty day moving average is $143.11 and its 200-day moving average is $128.37. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83. The stock has a market capitalization of $32.47 billion, a PE ratio of 25.54, a PEG ratio of 0.89 and a beta of 1.76. Nucor Corporation has a 52 week low of $97.59 and a 52 week high of $170.52.

Nucor (NYSE:NUE - Get Free Report) last announced its earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, topping the consensus estimate of $2.54 by $0.06. The company had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%.The business's revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.68 earnings per share. Equities research analysts expect that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Nucor's payout ratio is currently 39.71%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Allen C. Behr sold 8,021 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $143.38, for a total transaction of $1,150,050.98. Following the transaction, the executive vice president directly owned 82,703 shares in the company, valued at approximately $11,857,956.14. This represents a 8.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 10,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $130.37, for a total transaction of $1,303,700.00. Following the transaction, the executive vice president owned 94,080 shares in the company, valued at approximately $12,265,209.60. The trade was a 9.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,397 shares of company stock valued at $6,763,814. 0.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NUE shares. JPMorgan Chase & Co. increased their price objective on Nucor from $143.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Morgan Stanley increased their price objective on Nucor from $134.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. UBS Group dropped their price objective on Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. BMO Capital Markets upgraded Nucor from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $140.00 to $145.00 in a research note on Monday, June 2nd. Finally, Wells Fargo & Company upgraded Nucor to a "hold" rating in a research note on Thursday, August 14th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $155.78.

Nucor Company Profile

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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