V Square Quantitative Management LLC Increases Stock Holdings in Nucor Co. (NYSE:NUE)

V Square Quantitative Management LLC grew its position in Nucor Co. (NYSE:NUE) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,066 shares of the basic materials company’s stock after buying an additional 201 shares during the quarter. V Square Quantitative Management LLC’s holdings in Nucor were worth $801,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. SVB Wealth LLC grew its position in shares of Nucor by 1.5% in the 4th quarter. SVB Wealth LLC now owns 3,656 shares of the basic materials company’s stock worth $636,000 after acquiring an additional 54 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Nucor by 6.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 865 shares of the basic materials company’s stock valued at $151,000 after purchasing an additional 54 shares during the period. Kestra Private Wealth Services LLC boosted its position in Nucor by 0.8% during the 4th quarter. Kestra Private Wealth Services LLC now owns 7,191 shares of the basic materials company’s stock valued at $1,252,000 after purchasing an additional 55 shares during the period. Fortitude Family Office LLC boosted its position in Nucor by 54.1% during the 1st quarter. Fortitude Family Office LLC now owns 168 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 59 shares during the period. Finally, Nilsine Partners LLC boosted its position in Nucor by 5.2% during the 1st quarter. Nilsine Partners LLC now owns 1,307 shares of the basic materials company’s stock worth $259,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Insider Buying and Selling

In other news, EVP Daniel R. Needham sold 8,624 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the completion of the transaction, the executive vice president now owns 99,049 shares in the company, valued at approximately $15,847,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.46% of the stock is currently owned by company insiders.

Nucor Stock Down 1.4 %

Shares of NUE traded down $2.02 during trading hours on Wednesday, hitting $140.86. 643,623 shares of the company were exchanged, compared to its average volume of 1,478,978. The company has a market cap of $33.77 billion, a PE ratio of 8.40 and a beta of 1.57. The firm’s 50 day moving average is $156.12 and its 200-day moving average is $174.04. Nucor Co. has a 52 week low of $139.41 and a 52 week high of $203.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.85 and a current ratio of 2.93.

Nucor (NYSE:NUE) last released its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.37. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. Nucor had a return on equity of 15.69% and a net margin of 10.45%. Nucor’s revenue for the quarter was down 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $5.81 EPS. On average, equities research analysts forecast that Nucor Co. will post 10.57 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Friday, June 28th were given a $0.54 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.16 annualized dividend and a dividend yield of 1.53%. Nucor’s dividend payout ratio is currently 12.71%.

Analyst Upgrades and Downgrades

NUE has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Nucor from $180.00 to $170.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 16th. Bank of America cut their target price on Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, April 23rd. BMO Capital Markets cut their target price on Nucor from $185.00 to $175.00 and set a “market perform” rating on the stock in a research report on Monday, June 17th. Finally, Jefferies Financial Group assumed coverage on Nucor in a research report on Monday, May 20th. They set a “hold” rating and a $190.00 target price on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $191.29.

Nucor Company 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.