Point72 Europe London LLP Has $2.29 Million Stock Holdings in Nucor Corporation $NUE

Key Points

• Point72 Europe London LLP reduced its stake in Nucor Corporation by 27.5%, selling 7,204 shares and bringing its total holdings to 18,996 shares valued at approximately $2.29 million.
• Several institutional investors recently increased their holdings in Nucor, with a notable 76.48% of the stock currently owned by institutional investors.
• Nucor's shares received upgraded ratings from multiple analysts, with new price targets rising to as high as $170.00, indicating a consensus rating of "Moderate Buy".

Point72 Europe London LLP decreased its position in Nucor Corporation (NYSE:NUE - Free Report) by 27.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,996 shares of the basic materials company's stock after selling 7,204 shares during the quarter. Point72 Europe London LLP's holdings in Nucor were worth $2,286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Nucor by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 28,959,327 shares of the basic materials company's stock valued at $3,484,965,000 after purchasing an additional 745,671 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Nucor by 18.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,309,452 shares of the basic materials company's stock worth $277,920,000 after acquiring an additional 355,364 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Nucor by 5.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,772,831 shares of the basic materials company's stock worth $213,342,000 after acquiring an additional 92,363 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new position in Nucor in the first quarter worth about $194,804,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Nucor by 7.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,384,590 shares of the basic materials company's stock valued at $161,595,000 after acquiring an additional 96,375 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Nucor Price Performance

NUE traded down $1.43 during midday trading on Wednesday, hitting $144.98. The company had a trading volume of 1,123,277 shares, compared to its average volume of 1,146,275. Nucor Corporation has a twelve month low of $97.59 and a twelve month 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. The firm's 50-day simple moving average is $141.86 and its 200-day simple moving average is $128.20. The company has a market capitalization of $33.28 billion, a PE ratio of 26.17, a P/E/G ratio of 0.95 and a beta of 1.76.

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

Nucor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 11th. Shareholders of record on Monday, June 30th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 30th. Nucor's payout ratio is currently 39.71%.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $130.37, for a total value of $1,303,700.00. Following the transaction, the executive vice president directly owned 94,080 shares of the company's stock, valued at approximately $12,265,209.60. This trade represents a 9.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 8,021 shares of the company's stock in a transaction on 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 sale, the executive vice president owned 82,703 shares of the company's stock, valued at $11,857,956.14. The trade was a 8.84% decrease in their position. 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.

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.