74,625 Shares in Nucor Co. (NYSE:NUE) Bought by Weiss Asset Management LP

Weiss Asset Management LP purchased a new position in shares of Nucor Co. (NYSE:NUE – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,625 shares of the basic materials company’s stock, valued at approximately $7,984,000.

Several other institutional investors have also bought and sold shares of the stock. Lumature Wealth Partners LLC grew its holdings in Nucor by 4.0% during the third quarter. Lumature Wealth Partners LLC now owns 1,983 shares of the basic materials company’s stock worth $212,000 after buying an additional 76 shares in the last quarter. Retirement Guys Formula LLC grew its stake in Nucor by 1.9% in the 3rd quarter. Retirement Guys Formula LLC now owns 4,135 shares of the basic materials company’s stock valued at $442,000 after purchasing an additional 79 shares during the period. SRS Capital Advisors Inc. grew its stake in Nucor by 2.0% in the 3rd quarter. SRS Capital Advisors Inc. now owns 4,088 shares of the basic materials company’s stock valued at $437,000 after purchasing an additional 81 shares during the period. Equitable Holdings Inc. grew its stake in Nucor by 4.0% in the 3rd quarter. Equitable Holdings Inc. now owns 2,092 shares of the basic materials company’s stock valued at $224,000 after purchasing an additional 81 shares during the period. Finally, Laidlaw Wealth Management LLC grew its stake in Nucor by 2.0% in the 3rd quarter. Laidlaw Wealth Management LLC now owns 4,301 shares of the basic materials company’s stock valued at $460,000 after purchasing an additional 85 shares during the period. Institutional investors own 78.33% of the company’s stock.

Nucor Stock Performance

Shares of NUE opened at $144.12 on Friday. The stock’s 50-day simple moving average is $162.85 and its 200 day simple moving average is $143.07. The stock has a market capitalization of $36.31 billion, a price-to-earnings ratio of 5.02 and a beta of 1.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.13 and a current ratio of 3.39. Nucor Co. has a 52-week low of $100.13 and a 52-week high of $187.90.

Nucor (NYSE:NUE – Get Rating) last issued its quarterly earnings data on Thursday, January 26th. The basic materials company reported $4.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.18 by $0.71. The business had revenue of $8.72 billion for the quarter, compared to analysts’ expectations of $8.54 billion. Nucor had a return on equity of 42.03% and a net margin of 18.33%. The firm’s quarterly revenue was down 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.97 EPS. Research analysts forecast that Nucor Co. will post 14.35 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 11th. Shareholders of record on Friday, March 31st will be issued a $0.51 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $2.04 annualized dividend and a dividend yield of 1.42%. Nucor’s payout ratio is currently 7.10%.

Analyst Ratings Changes

NUE has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on Nucor from $155.00 to $165.00 and gave the company a “market perform” rating in a research note on Friday, January 27th. Morgan Stanley upped their price objective on Nucor from $113.00 to $122.00 and gave the company an “equal weight” rating in a research note on Monday, January 30th. Credit Suisse Group increased their price target on Nucor from $140.00 to $156.00 and gave the stock an “outperform” rating in a research note on Friday. StockNews.com started coverage on Nucor in a research note on Thursday. They set a “hold” rating for the company. Finally, Bank of America started coverage on Nucor in a research note on Wednesday, January 4th. They set a “buy” rating and a $172.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $153.44.

Insider Buying and Selling at Nucor

In other Nucor news, CEO Leon J. Topalian sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $134.71, for a total value of $404,130.00. Following the sale, the chief executive officer now owns 126,809 shares of the company’s stock, valued at approximately $17,082,440.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Kenneth Rex Query sold 1,962 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $177.99, for a total transaction of $349,216.38. Following the transaction, the executive vice president now directly owns 74,138 shares in the company, valued at approximately $13,195,822.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Leon J. Topalian sold 3,000 shares of the stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $134.71, for a total value of $404,130.00. Following the transaction, the chief executive officer now owns 126,809 shares in the company, valued at $17,082,440.39. The disclosure for this sale can be found here. Insiders have sold a total of 12,575 shares of company stock valued at $2,034,130 in the last 90 days. Corporate insiders own 0.46% of the company’s stock.

Nucor Profile

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Nucor Corp. engages in the manufacturing of steel and steel products. It operates through the following segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment consists of carbon and alloy steel in sheet, bars, structural and plate, steel trading businesses, rebar distribution businesses, and Nucor’s equity method investments.