XTX Topco Ltd Makes New Investment in Nucor Corporation (NYSE:NUE)

Key Points

• XTX Topco Ltd purchased 14,658 shares of Nucor Corporation, valued at approximately $1.76 million, during the first quarter of 2023.
• Nucor reported a quarterly earnings per share (EPS) of $2.60, slightly exceeding analysts' expectations, with revenues totaling $8.46 billion.
• Analysts have set a consensus price target of $157.13 for Nucor, with varying ratings from sell to strong buy among different research firms.

XTX Topco Ltd bought a new stake in Nucor Corporation (NYSE:NUE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,658 shares of the basic materials company's stock, valued at approximately $1,764,000.

Other institutional investors also recently modified their holdings of the company. Marshall & Sterling Wealth Advisors Inc. bought a new stake in Nucor during the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new position in Nucor in the 4th quarter valued at approximately $29,000. MV Capital Management Inc. raised its holdings in Nucor by 73.5% in the 1st quarter. MV Capital Management Inc. now owns 281 shares of the basic materials company's stock valued at $34,000 after buying an additional 119 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in Nucor in the 4th quarter valued at approximately $41,000. Finally, Spirit of America Management Corp NY bought a new position in Nucor in the 1st quarter valued at approximately $48,000. Institutional investors own 76.48% of the company's stock.

Insider Buying and Selling at Nucor

In related news, EVP Kenneth Rex Query sold 10,000 shares of Nucor stock in a transaction 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 completion of the sale, the executive vice president 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Daniel R. Needham sold 7,088 shares of Nucor stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $127.87, for a total transaction of $906,342.56. Following the completion of the sale, the executive vice president directly owned 99,379 shares of the company's stock, valued at approximately $12,707,592.73. The trade was a 6.66% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.46% of the company's stock.

Nucor Stock Down 3.1%

Shares of Nucor stock traded down $4.40 during trading on Friday, reaching $138.67. 1,721,015 shares of the company traded hands, compared to its average volume of 1,793,802. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.48. Nucor Corporation has a 1-year low of $97.59 and a 1-year high of $170.52. The company has a 50 day moving average price of $130.02 and a 200-day moving average price of $125.61. The firm has a market capitalization of $32.00 billion, a PE ratio of 25.03, a P/E/G ratio of 0.91 and a beta of 1.74.

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

Nucor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Investors of record on Monday, June 30th will be given a $0.55 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.20 annualized dividend and a yield of 1.6%. Nucor's dividend payout ratio (DPR) is presently 39.71%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen lowered shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. BMO Capital Markets raised shares of Nucor from a "market perform" rating to an "outperform" rating and increased their target price for the company from $140.00 to $145.00 in a research report on Monday, June 2nd. UBS Group decreased their target price on shares of Nucor from $153.00 to $147.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. The Goldman Sachs Group decreased their target price on shares of Nucor from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Morgan Stanley increased their target price on shares of Nucor from $134.00 to $149.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. One analyst has rated the stock with a sell rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Nucor has an average rating of "Moderate Buy" and an average target price of $157.13.

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.