Twinbeech Capital LP Buys New Shares in Nucor Co. (NYSE:NUE)

Twinbeech Capital LP bought a new stake in shares of Nucor Co. (NYSE:NUE - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 261,463 shares of the basic materials company's stock, valued at approximately $30,515,000. Twinbeech Capital LP owned approximately 0.11% of Nucor as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Two Sigma Advisers LP purchased a new position in shares of Nucor in the fourth quarter valued at about $10,597,000. Two Sigma Investments LP purchased a new position in shares of Nucor in the fourth quarter valued at about $20,713,000. Texas Bank & Trust Co purchased a new position in shares of Nucor in the fourth quarter valued at about $376,000. Tidal Investments LLC lifted its position in shares of Nucor by 26.5% in the fourth quarter. Tidal Investments LLC now owns 46,160 shares of the basic materials company's stock valued at $5,387,000 after acquiring an additional 9,667 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Nucor by 6.7% in the fourth quarter. Toronto Dominion Bank now owns 125,280 shares of the basic materials company's stock valued at $14,621,000 after acquiring an additional 7,834 shares in the last quarter. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Nucor Stock Up 0.3%

Shares of NYSE:NUE opened at $115.85 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48. The firm has a market capitalization of $26.71 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73. The business has a 50 day simple moving average of $117.69 and a two-hundred day simple moving average of $128.40. Nucor Co. has a 1 year low of $97.59 and a 1 year high of $173.00.

Nucor (NYSE:NUE - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The firm had revenue of $7.83 billion during the quarter, compared to analysts' expectations of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. The firm's revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.46 EPS. On average, equities analysts predict that Nucor Co. will post 7.64 EPS for the current year.

Nucor Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Monday, March 31st were issued a $0.55 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.90%. Nucor's payout ratio is 39.15%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on Nucor from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. Morgan Stanley set a $164.00 target price on Nucor in a report on Monday, March 24th. StockNews.com cut Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Finally, UBS Group raised Nucor from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $156.00 to $160.00 in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $160.33.

Insider Activity at Nucor

In other Nucor news, CEO Leon J. Topalian sold 34,238 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $120.19, for a total transaction of $4,115,065.22. Following the completion of the sale, the chief executive officer now owns 162,993 shares in the company, valued at $19,590,128.67. This represents a 17.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.46% of the stock is owned by company insiders.

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.

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