WINTON GROUP Ltd Has $789,000 Position in Nucor Corporation $NUE

Key Points

• WINTON GROUP Ltd cut its Nucor position by 90.6% in the second quarter, selling 34,308 shares and retaining 3,540 shares worth approximately $789,000.
• Nucor reported stronger-than-expected quarterly results, with EPS of $4.84 versus the $4.46 consensus estimate and revenue of $10.40 billion, up 23% year over year.
• Analyst sentiment remains positive: 13 analysts rate Nucor a Buy and three rate it Hold, producing a “Moderate Buy” consensus and an average price target of $274.38.

WINTON GROUP Ltd lessened its position in Nucor Corporation (NYSE:NUE - Free Report) by 90.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,540 shares of the basic materials company's stock after selling 34,308 shares during the period. WINTON GROUP Ltd's holdings in Nucor were worth $789,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in shares of Nucor by 23,029.6% in the 2nd quarter. California State Teachers Retirement System now owns 61,424,649 shares of the basic materials company's stock valued at $13,682,341,000 after purchasing an additional 61,159,082 shares during the period. BlackRock Inc. bought a new position in Nucor during the second quarter worth about $4,452,563,000. Norges Bank bought a new position in Nucor during the fourth quarter worth about $609,002,000. Dimensional Fund Advisors LP increased its position in Nucor by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company's stock worth $429,298,000 after buying an additional 22,718 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Nucor during the second quarter worth approximately $462,886,000. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Nucor Stock Down 1.8%

Nucor stock opened at $254.68 on Tuesday. The company's 50-day moving average price is $252.35 and its two-hundred day moving average price is $224.86. 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 stock has a market cap of $57.78 billion, a P/E ratio of 20.31, a P/E/G ratio of 0.93 and a beta of 1.87. Nucor Corporation has a twelve month low of $131.32 and a twelve month high of $280.11.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The company had revenue of $10.40 billion during the quarter, compared to analysts' expectations of $10.15 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. The business's revenue was up 23.0% on a year-over-year basis. As a group, analysts expect that Nucor Corporation will post 18.52 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NUE. Barclays raised their price objective on Nucor from $272.00 to $295.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Wells Fargo & Company decreased their target price on Nucor from $297.00 to $285.00 and set an "overweight" rating on the stock in a report on Monday, August 24th. BMO Capital Markets increased their price target on Nucor from $285.00 to $295.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. JPMorgan Chase & Co. raised their price target on Nucor from $294.00 to $308.00 and gave the company an "overweight" rating in a report on Wednesday, September 9th. Finally, KeyCorp raised shares of Nucor from a "sector weight" rating to an "overweight" rating and set a $274.00 price objective for the company in a research report on Wednesday, June 24th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $274.38.

Insider Activity at Nucor

In other news, EVP Thomas J. Batterbee sold 4,000 shares of Nucor stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $261.02, for a total transaction of $1,044,080.00. Following the completion of the sale, the executive vice president owned 16,138 shares of the company's stock, valued at approximately $4,212,340.76. This trade represents a 19.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Stephen D. Laxton sold 3,968 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.62% of the company's stock.

Nucor Company Profile

Nucor Corporation is a Charlotte, North Carolina-based steel and steel products company. It manufactures carbon, alloy and stainless steel products, including sheet, plate, bar, structural steel, rail, wire rod, rebar and merchant bar. The company also produces steel joists, deck, beams, piling, wire products, fasteners, grating, metal building systems and other fabricated steel products.

Nucor operates an integrated network of electric arc furnace steel mills, recycling facilities and downstream manufacturing operations.

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