Jupiter Topco LLC Takes $6.86 Million Position in Nucor Corporation $NUE

Jupiter Topco LLC bought a new stake in shares of Nucor Corporation (NYSE:NUE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 30,812 shares of the basic materials company’s stock, valued at approximately $6,861,000.

Several other hedge funds also recently bought and sold shares of the company. Kinetic Partners Management LP bought a new stake in Nucor during the second quarter valued at about $38,023,000. J. Goldman & Co LP purchased a new position in shares of Nucor in the second quarter valued at about $5,797,000. Delos Wealth Advisors LLC bought a new position in shares of Nucor in the second quarter worth about $41,000. Palisade Capital Management LP bought a new position in shares of Nucor in the second quarter worth about $487,000. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Nucor during the second quarter worth about $46,630,000. Institutional investors own 76.48% of the company’s stock.

Nucor Price Performance

NYSE:NUE opened at $250.84 on Monday. The business’s 50-day moving average is $246.64 and its 200 day moving average is $219.15. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The company has a market capitalization of $56.91 billion, a P/E ratio of 20.00, a P/E/G ratio of 0.93 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 (NYSE:NUE) last released its quarterly earnings results on Monday, July 27th. The basic materials company reported $4.84 earnings per share for the quarter, beating the consensus estimate of $4.46 by $0.38. Nucor had a return on equity of 12.73% and a net margin of 7.99%.The business had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. During the same quarter last year, the business posted $2.60 EPS. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, equities research analysts forecast that Nucor Corporation will post 17.95 earnings per share for the current fiscal year.

Nucor Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 11th. Investors of record on Tuesday, June 30th were issued a $0.56 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.9%. Nucor’s dividend payout ratio (DPR) is 17.86%.

Insider Activity at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the completion of the transaction, the executive vice president owned 97,865 shares in the company, valued at $25,294,187.90. This trade represents a 9.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $256.96, for a total transaction of $1,019,617.28. Following the completion of the transaction, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at $20,008,704.32. The trade was a 4.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 18,528 shares of company stock valued at $4,793,035. 0.62% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NUE. Wall Street Zen raised Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Seaport Research Partners increased their price objective on shares of Nucor from $245.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, June 10th. UBS Group lifted their price objective on shares of Nucor from $224.00 to $256.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Argus boosted their target price on shares of Nucor from $200.00 to $262.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Weiss Ratings upgraded shares of Nucor from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 25th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $272.38.

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.