Kapitalo Investimentos Ltda Decreases Stock Position in Nucor Co. (NYSE:NUE)

Kapitalo Investimentos Ltda cut its stake in shares of Nucor Co. (NYSE:NUE) by 53.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,367 shares of the basic materials company’s stock after selling 1,575 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Nucor were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Rise Advisors LLC bought a new position in shares of Nucor in the first quarter worth approximately $27,000. Chilton Capital Management LLC increased its position in shares of Nucor by 94.2% in the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 65 shares during the period. Central Pacific Bank Trust Division bought a new position in shares of Nucor during the first quarter valued at about $28,000. Tompkins Financial Corp boosted its holdings in shares of Nucor by 208.0% during the first quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 104 shares during the period. Finally, Salomon & Ludwin LLC bought a new stake in shares of Nucor in the first quarter worth about $31,000. 76.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NUE has been the subject of several research analyst reports. Bank of America dropped their price objective on Nucor from $210.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, June 26th. BMO Capital Markets dropped their price target on Nucor from $175.00 to $160.00 and set a “market perform” rating for the company in a research note on Wednesday, September 18th. Morgan Stanley reduced their price objective on shares of Nucor from $176.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their target price on shares of Nucor from $174.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Argus upgraded shares of Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $191.43.

Insider Buying and Selling at Nucor

In other news, EVP Daniel R. Needham sold 8,624 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total value of $1,379,840.00. Following the sale, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.46% of the stock is owned by company insiders.

Nucor Stock Performance

Shares of NUE stock opened at $154.26 on Thursday. The company’s fifty day moving average price is $146.93 and its 200-day moving average price is $161.06. The stock has a market cap of $36.99 billion, a PE ratio of 9.07 and a beta of 1.55. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, topping the consensus estimate of $2.31 by $0.37. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the previous year, the firm posted $5.81 earnings per share. Nucor’s quarterly revenue was down 15.2% on a year-over-year basis. On average, equities analysts expect that Nucor Co. will post 9.1 EPS for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, September 27th. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

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.