GSA Capital Partners LLP Invests $916,000 in Nucor Corporation $NUE

GSA Capital Partners LLP bought a new position in Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,113 shares of the basic materials company’s stock, valued at approximately $916,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Nucor by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 28,407,540 shares of the basic materials company’s stock valued at $4,633,554,000 after purchasing an additional 144,038 shares during the last quarter. Morgan Stanley grew its position in Nucor by 1.1% in the 4th quarter. Morgan Stanley now owns 3,853,205 shares of the basic materials company’s stock worth $628,497,000 after purchasing an additional 41,728 shares during the last quarter. Norges Bank bought a new position in Nucor in the 4th quarter worth about $609,002,000. Dimensional Fund Advisors LP increased its stake in shares of Nucor by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,539,044 shares of the basic materials company’s stock valued at $429,298,000 after purchasing an additional 22,718 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Nucor by 3.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,919,883 shares of the basic materials company’s stock worth $313,152,000 after acquiring an additional 56,565 shares during the period. 76.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NUE has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their target price on Nucor from $240.00 to $282.00 and gave the company an “overweight” rating in a research note on Wednesday, June 10th. BMO Capital Markets increased their target price on shares of Nucor from $285.00 to $295.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Barclays upped their price target on shares of Nucor from $272.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. CICC Research began coverage on Nucor in a research report on Monday, May 25th. They issued an “outperform” rating on the stock. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nucor in a research note on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $273.31.

Nucor Stock Down 2.9%

Shares of NYSE NUE opened at $264.74 on Wednesday. The firm’s 50-day moving average is $247.76 and its 200-day moving average is $215.68. The firm has a market capitalization of $60.06 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 0.60 and a beta of 1.89. The company has a current ratio of 2.51, a quick ratio of 1.36 and a debt-to-equity ratio of 0.27. Nucor Corporation has a 1 year low of $131.32 and a 1 year high of $280.11.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 EPS for the quarter, beating analysts’ consensus estimates of $4.46 by $0.38. The company had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. Nucor had a return on equity of 12.73% and a net margin of 7.99%.Nucor’s revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.60 EPS. Equities analysts expect that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.56 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.24 annualized dividend and a yield of 0.8%. Nucor’s dividend payout ratio is presently 17.86%.

Insider Activity

In other Nucor news, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $256.96, for a total value of $1,019,617.28. Following the transaction, the chief operating officer owned 77,867 shares in the company, valued at $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John J. Hollatz sold 10,560 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the transaction, the executive vice president owned 97,865 shares of the company’s stock, valued at approximately $25,294,187.90. This represents a 9.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 18,528 shares of company stock worth $4,793,035. Insiders own 0.62% of the company’s stock.

About Nucor

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.