Regal Partners Ltd Cuts Position in Nucor Corporation (NYSE:NUE)

Key Points

• Regal Partners Ltd reduced its stake in Nucor Corporation by 3.3% during the first quarter, now holding 62,348 shares valued at approximately $7.5 million.
• Nucor's recent earnings report showed an EPS of $2.60, surpassing expectations, while the company's revenue was reported at $8.46 billion.
• The firm announced a quarterly dividend of $0.55 per share, reflecting a 1.6% dividend yield for shareholders.

Regal Partners Ltd reduced its holdings in Nucor Corporation (NYSE:NUE - Free Report) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,348 shares of the basic materials company's stock after selling 2,097 shares during the quarter. Nucor comprises 0.8% of Regal Partners Ltd's investment portfolio, making the stock its 22nd largest position. Regal Partners Ltd's holdings in Nucor were worth $7,503,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in NUE. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Nucor by 17.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,595 shares of the basic materials company's stock worth $3,853,000 after acquiring an additional 4,763 shares during the period. Voya Investment Management LLC boosted its stake in shares of Nucor by 528.6% in the fourth quarter. Voya Investment Management LLC now owns 507,715 shares of the basic materials company's stock worth $59,235,000 after acquiring an additional 426,949 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Nucor by 21.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 101,459 shares of the basic materials company's stock valued at $12,210,000 after buying an additional 17,861 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Nucor by 20.5% during the first quarter. Assenagon Asset Management S.A. now owns 28,886 shares of the basic materials company's stock valued at $3,476,000 after buying an additional 4,914 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Nucor by 12.4% during the first quarter. Envestnet Asset Management Inc. now owns 305,006 shares of the basic materials company's stock valued at $36,704,000 after buying an additional 33,700 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Insider Transactions at Nucor

In other news, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $130.37, for a total value of $1,303,700.00. Following the completion of the sale, the executive vice president owned 94,080 shares of the company's stock, valued at $12,265,209.60. This trade represents a 9.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Allen C. Behr sold 8,021 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $143.38, for a total value of $1,150,050.98. Following the completion of the transaction, the executive vice president directly owned 82,703 shares in the company, valued at $11,857,956.14. This represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,109 shares of company stock valued at $3,360,094 in the last quarter. 0.46% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NUE. BMO Capital Markets raised Nucor from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. Wells Fargo & Company raised Nucor to a "hold" rating in a research note on Thursday. Morgan Stanley raised their price objective on Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Wall Street Zen lowered Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, UBS Group lowered 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $155.78.

Nucor Trading Up 0.8%

NUE traded up $1.14 during trading on Friday, hitting $145.49. 2,177,819 shares of the stock were exchanged, compared to its average volume of 2,487,794. The firm has a 50 day simple moving average of $135.77 and a 200 day simple moving average of $126.91. The firm has a market cap of $33.57 billion, a price-to-earnings ratio of 26.26, a P/E/G ratio of 0.93 and a beta of 1.74. Nucor Corporation has a 1 year low of $97.59 and a 1 year high of $170.52. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 2.83.

Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings data 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 the consensus estimate of $8.47 billion. Nucor had a return on equity of 6.65% and a net margin of 4.21%. Nucor's quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the business posted $2.68 EPS. As a group, equities analysts expect that Nucor Corporation will post 7.64 EPS for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Stockholders of record on Monday, June 30th were given a $0.55 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.5%. Nucor's dividend payout ratio (DPR) is presently 39.71%.

Nucor 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.