Dynamic Technology Lab Private Ltd Acquires Shares of 11,985 Nucor Co. (NYSE:NUE)

Dynamic Technology Lab Private Ltd bought a new position in Nucor Co. (NYSE:NUE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 11,985 shares of the basic materials company’s stock, valued at approximately $1,802,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Nucor by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after acquiring an additional 84,558 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Nucor by 19.8% during the third quarter. Pacer Advisors Inc. now owns 3,456,484 shares of the basic materials company’s stock worth $519,648,000 after purchasing an additional 571,682 shares during the period. Legal & General Group Plc boosted its holdings in shares of Nucor by 3.2% during the second quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after purchasing an additional 67,974 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Nucor by 2.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,612,216 shares of the basic materials company’s stock worth $242,381,000 after purchasing an additional 45,467 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its holdings in Nucor by 8,530.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 1,595,179 shares of the basic materials company’s stock valued at $239,819,000 after purchasing an additional 1,576,695 shares during the period. Institutional investors own 76.48% of the company’s stock.

Analysts Set New Price Targets

NUE has been the subject of several research analyst reports. Morgan Stanley dropped their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets decreased their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a report on Wednesday, September 18th. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $190.57.

Nucor Stock Up 1.0 %

NYSE:NUE opened at $153.44 on Tuesday. Nucor Co. has a 1-year low of $133.42 and a 1-year high of $203.00. The company has a market capitalization of $36.03 billion, a PE ratio of 14.83 and a beta of 1.55. The firm’s 50-day moving average price is $149.88 and its 200-day moving average price is $153.81. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last announced its earnings results on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same quarter last year, the firm earned $4.57 earnings per share. The business’s revenue for the quarter was down 15.2% on a year-over-year basis. On average, equities analysts predict that Nucor Co. will post 8.52 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s dividend payout ratio (DPR) is 20.87%.

Insider Transactions at Nucor

In other news, EVP Allen C. Behr sold 4,968 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $159.72, for a total transaction of $793,488.96. Following the sale, the executive vice president now owns 85,376 shares in the company, valued at $13,636,254.72. This represents a 5.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Leon J. Topalian sold 11,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,680 shares of company stock valued at $4,773,724. Insiders own 0.64% of the company’s stock.

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.