42,698 Shares in Nucor Co. (NYSE:NUE) Acquired by Moore Capital Management LP

Moore Capital Management LP bought a new position in shares of Nucor Co. (NYSE:NUE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 42,698 shares of the basic materials company's stock, valued at approximately $4,983,000.

A number of other large investors also recently modified their holdings of NUE. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Nucor by 0.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 61,438 shares of the basic materials company's stock worth $7,170,000 after purchasing an additional 415 shares in the last quarter. Czech National Bank boosted its position in shares of Nucor by 5.3% during the fourth quarter. Czech National Bank now owns 50,913 shares of the basic materials company's stock valued at $5,942,000 after buying an additional 2,565 shares during the last quarter. Capital Investment Advisors LLC grew its holdings in Nucor by 339.2% during the fourth quarter. Capital Investment Advisors LLC now owns 6,157 shares of the basic materials company's stock worth $719,000 after buying an additional 4,755 shares in the last quarter. Eastern Bank raised its position in Nucor by 13.7% in the 4th quarter. Eastern Bank now owns 2,283 shares of the basic materials company's stock valued at $266,000 after buying an additional 275 shares during the last quarter. Finally, Granite Bay Wealth Management LLC bought a new position in Nucor during the 4th quarter valued at $3,872,000. 76.48% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Leon J. Topalian sold 34,238 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $120.19, for a total value of $4,115,065.22. Following the sale, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at $19,590,128.67. This trade represents a 17.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.46% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on NUE. StockNews.com downgraded shares of Nucor from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Jefferies Financial Group upped their price objective on shares of Nucor from $125.00 to $135.00 and gave the stock a "hold" rating in a research report on Wednesday, January 29th. Morgan Stanley set a $164.00 target price on Nucor in a research note on Monday, March 24th. Argus set a $155.00 target price on Nucor in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their target price on Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Nucor currently has a consensus rating of "Moderate Buy" and an average price target of $160.33.

Nucor Stock Performance

Nucor stock traded up $0.39 during midday trading on Friday, reaching $115.85. The stock had a trading volume of 1,832,110 shares, compared to its average volume of 2,109,567. The firm has a market capitalization of $26.71 billion, a PE ratio of 13.78, a P/E/G ratio of 0.96 and a beta of 1.73. Nucor Co. has a 12 month low of $97.59 and a 12 month high of $174.99. The company has a quick ratio of 1.48, a current ratio of 2.51 and a debt-to-equity ratio of 0.27. The firm's 50-day moving average price is $117.98 and its 200 day moving average price is $128.81.

Nucor (NYSE:NUE - Get Free Report) last issued its earnings results on Monday, April 28th. The basic materials company reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.15). The business had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.25 billion. Nucor had a return on equity of 9.85% and a net margin of 6.60%. Nucor's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.46 EPS. As a group, research analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 12th. Stockholders of record on Monday, March 31st were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Monday, March 31st. Nucor's dividend payout ratio is presently 39.15%.

About Nucor

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.