Schonfeld Strategic Advisors LLC Has $5.50 Million Stake in Nucor Co. (NYSE:NUE)

Schonfeld Strategic Advisors LLC cut its holdings in shares of Nucor Co. (NYSE:NUE - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,108 shares of the basic materials company's stock after selling 6,980 shares during the quarter. Schonfeld Strategic Advisors LLC's holdings in Nucor were worth $5,498,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Nucor in the fourth quarter valued at approximately $25,000. Crews Bank & Trust acquired a new stake in shares of Nucor during the fourth quarter worth about $29,000. New Wave Wealth Advisors LLC purchased a new stake in shares of Nucor in the 4th quarter valued at about $33,000. Versant Capital Management Inc boosted its position in shares of Nucor by 60.3% in the 4th quarter. Versant Capital Management Inc now owns 303 shares of the basic materials company's stock valued at $35,000 after purchasing an additional 114 shares during the period. Finally, Beacon Capital Management LLC grew its stake in Nucor by 29.1% during the 4th quarter. Beacon Capital Management LLC now owns 417 shares of the basic materials company's stock worth $49,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 76.48% of the company's stock.

Insider Buying and Selling

In other news, CEO Leon J. Topalian sold 34,238 shares of the business'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 sale, the chief executive officer now directly owns 162,993 shares of the company's stock, valued at $19,590,128.67. The trade was a 17.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.46% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on NUE. JPMorgan Chase & Co. cut their target price on shares of Nucor from $156.00 to $140.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. UBS Group raised Nucor from a "neutral" rating to a "buy" rating and raised their price target for the stock from $156.00 to $160.00 in a report on Monday, March 24th. Jefferies Financial Group increased their price objective on 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 report on Monday, March 24th. Finally, StockNews.com cut shares of Nucor from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $160.33.

Nucor Stock Down 1.4 %

Nucor stock traded down $1.68 during midday trading on Wednesday, hitting $115.17. 2,854,017 shares of the company were exchanged, compared to its average volume of 2,084,579. The company has a market cap of $26.55 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.96 and a beta of 1.73. Nucor Co. has a fifty-two week low of $97.59 and a fifty-two week high of $176.59. The company's fifty day moving average price is $120.14 and its 200-day moving average price is $130.10. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.48.

Nucor (NYSE:NUE - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $7.25 billion. Nucor had a net margin of 6.60% and a return on equity of 9.85%. Nucor's revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.46 EPS. On average, research analysts predict that Nucor Co. will post 7.64 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be paid a dividend of $0.55 per share. The ex-dividend date is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.91%. Nucor's payout ratio is currently 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.