Quantinno Capital Management LP Acquires 6,141 Shares of Nucor Co. (NYSE:NUE)

Quantinno Capital Management LP grew its holdings in Nucor Co. (NYSE:NUE) by 68.3% in the third quarter, Holdings Channel reports. The firm owned 15,128 shares of the basic materials company’s stock after buying an additional 6,141 shares during the quarter. Quantinno Capital Management LP’s holdings in Nucor were worth $2,274,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP bought a new stake in shares of Nucor in the 3rd quarter worth $131,000. Royal London Asset Management Ltd. increased its holdings in shares of Nucor by 1.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 99,370 shares of the basic materials company’s stock worth $14,939,000 after purchasing an additional 1,289 shares in the last quarter. Redwood Investment Management LLC increased its holdings in shares of Nucor by 1.0% in the 3rd quarter. Redwood Investment Management LLC now owns 9,092 shares of the basic materials company’s stock worth $1,365,000 after purchasing an additional 94 shares in the last quarter. Point72 Italy S.r.l. bought a new stake in shares of Nucor in the 3rd quarter worth $4,420,000. Finally, Polar Asset Management Partners Inc. boosted its stake in shares of Nucor by 170.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 45,200 shares of the basic materials company’s stock worth $6,795,000 after buying an additional 109,200 shares during the last quarter. Institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on Nucor in a research note on Monday, December 2nd. They issued a “buy” rating and a $190.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley dropped their price target on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. BMO Capital Markets dropped their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a research note on Wednesday, September 18th. Finally, Argus upgraded Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $190.50.

Insider Buying and Selling at Nucor

In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the transaction, the executive vice president now owns 98,770 shares in the company, valued at approximately $14,499,436. This represents a 8.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 4,968 shares of the company’s 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 transaction, the executive vice president now owns 85,376 shares in the company, valued at $13,636,254.72. The trade was a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,680 shares of company stock worth $4,773,724. 0.64% of the stock is owned by corporate insiders.

Nucor Trading Down 2.8 %

NYSE:NUE opened at $140.57 on Wednesday. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The firm has a 50 day moving average of $150.56 and a 200 day moving average of $152.29. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $33.01 billion, a price-to-earnings ratio of 13.58 and a beta of 1.55.

Nucor (NYSE:NUE) last posted its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS 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 company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter in the prior year, the company posted $4.57 earnings per share. Nucor’s revenue for the quarter was down 15.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nucor Co. will post 8.5 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were paid a dividend of $0.54 per share. The ex-dividend date was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.54%. Nucor’s payout ratio is 20.87%.

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.