ABC Arbitrage SA Invests $3.79 Million in Nucor Corporation $NUE

ABC Arbitrage SA bought a new stake in Nucor Corporation (NYSE:NUE) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 27,975 shares of the basic materials company’s stock, valued at approximately $3,789,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NUE. RFG Advisory LLC boosted its stake in shares of Nucor by 2.9% in the 2nd quarter. RFG Advisory LLC now owns 2,462 shares of the basic materials company’s stock valued at $319,000 after purchasing an additional 69 shares during the last quarter. Whittier Trust Co. boosted its position in Nucor by 5.6% during the third quarter. Whittier Trust Co. now owns 1,330 shares of the basic materials company’s stock valued at $184,000 after acquiring an additional 70 shares during the last quarter. IMA Advisory Services Inc. grew its holdings in Nucor by 51.4% during the 2nd quarter. IMA Advisory Services Inc. now owns 221 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 75 shares during the period. HUB Investment Partners LLC raised its position in shares of Nucor by 1.9% in the 2nd quarter. HUB Investment Partners LLC now owns 4,099 shares of the basic materials company’s stock worth $531,000 after acquiring an additional 75 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its position in shares of Nucor by 1.9% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 4,326 shares of the basic materials company’s stock worth $560,000 after acquiring an additional 79 shares in the last quarter. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

NUE has been the topic of several research analyst reports. Jefferies Financial Group upped their target price on Nucor from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, January 12th. UBS Group lowered Nucor from a “buy” rating to a “neutral” rating and set a $183.00 price target on the stock. in a research note on Wednesday, January 28th. Wall Street Zen raised shares of Nucor from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. BNP Paribas Exane lifted their price objective on shares of Nucor from $165.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, January 2nd. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Nucor in a research report on Wednesday, October 29th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.36.

Insider Activity

In related news, EVP Daniel R. Needham sold 3,881 shares of the stock in a transaction on Friday, January 30th. The stock was sold at an average price of $178.00, for a total value of $690,818.00. Following the completion of the sale, the executive vice president directly owned 88,298 shares of the company’s stock, valued at approximately $15,717,044. This represents a 4.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Allen C. Behr sold 7,568 shares of the firm’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $188.50, for a total value of $1,426,568.00. Following the transaction, the executive vice president owned 67,711 shares in the company, valued at approximately $12,763,523.50. This trade represents a 10.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,899 shares of company stock worth $4,745,417 over the last 90 days. 0.71% of the stock is currently owned by corporate insiders.

Nucor Stock Performance

Shares of NUE stock opened at $191.95 on Wednesday. The company has a current ratio of 2.94, a quick ratio of 1.57 and a debt-to-equity ratio of 0.31. The firm has a fifty day simple moving average of $170.70 and a two-hundred day simple moving average of $153.06. Nucor Corporation has a 12 month low of $97.59 and a 12 month high of $193.50. The firm has a market capitalization of $43.93 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 0.69 and a beta of 1.86.

Nucor (NYSE:NUE) last posted its earnings results on Monday, January 26th. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.18). Nucor had a return on equity of 8.26% and a net margin of 5.37%.The business had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the firm earned $1.22 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. Analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 11th. Stockholders of record on Wednesday, December 31st will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 1.2%. This is a boost from Nucor’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Wednesday, December 31st. Nucor’s dividend payout ratio (DPR) is currently 29.71%.

Nucor Company Profile

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.