Regal Partners Ltd Makes New $13.15 Million Investment in Nucor Co. (NYSE:NUE)

Regal Partners Ltd bought a new position in shares of Nucor Co. (NYSE:NUE) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 87,445 shares of the basic materials company’s stock, valued at approximately $13,146,000. Nucor accounts for 1.2% of Regal Partners Ltd’s holdings, making the stock its 24th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in Nucor by 2.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,909,388 shares of the basic materials company’s stock worth $617,915,000 after buying an additional 84,558 shares during the period. Pacer Advisors Inc. lifted its holdings in Nucor by 29.7% during the 2nd quarter. Pacer Advisors Inc. now owns 2,884,802 shares of the basic materials company’s stock worth $456,030,000 after buying an additional 660,866 shares during the period. Legal & General Group Plc lifted its holdings in Nucor by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 2,160,803 shares of the basic materials company’s stock worth $341,580,000 after buying an additional 67,974 shares during the period. Hsbc Holdings PLC lifted its holdings in Nucor by 11.6% during the 2nd quarter. Hsbc Holdings PLC now owns 1,069,920 shares of the basic materials company’s stock worth $169,433,000 after buying an additional 111,177 shares during the period. Finally, ProShare Advisors LLC lifted its stake in shares of Nucor by 2.8% in the 2nd quarter. ProShare Advisors LLC now owns 1,055,632 shares of the basic materials company’s stock valued at $166,874,000 after purchasing an additional 28,384 shares during the period. 76.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on NUE shares. BMO Capital Markets dropped their price objective 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. Morgan Stanley dropped their price objective on Nucor from $170.00 to $166.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Argus raised Nucor to a “strong-buy” rating in a research note on Monday, August 26th. Finally, JPMorgan Chase & Co. dropped their price objective on Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $190.57.

Nucor Stock Performance

Shares of Nucor stock opened at $152.22 on Thursday. Nucor Co. has a one year low of $133.42 and a one year high of $203.00. The firm has a market capitalization of $35.74 billion, a price-to-earnings ratio of 14.71 and a beta of 1.55. The business has a 50-day simple moving average of $148.37 and a 200 day simple moving average of $155.24. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61.

Nucor (NYSE:NUE) last issued 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. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The firm’s revenue was down 15.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.57 EPS. On average, research analysts anticipate that Nucor Co. will post 8.52 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Shareholders of record on Friday, September 27th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, September 27th. Nucor’s dividend payout ratio is currently 20.87%.

Insiders Place Their Bets

In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Nucor news, CFO Stephen D. Laxton sold 4,712 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.53, for a total transaction of $798,825.36. Following the completion of the sale, the chief financial officer now directly owns 82,132 shares of the company’s stock, valued at approximately $13,923,837.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Leon J. Topalian sold 11,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total value of $1,860,210.00. Following the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at $29,109,918.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,680 shares of company stock valued at $4,773,724. Corporate insiders own 0.46% of the company’s stock.

Nucor 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.