GAMMA Investing LLC Invests $301,000 in Nucor Co. (NYSE:NUE)

GAMMA Investing LLC purchased a new stake in Nucor Co. (NYSE:NUE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,608 shares of the basic materials company’s stock, valued at approximately $301,000.

A number of other large investors also recently modified their holdings of NUE. Criterion Capital Advisors LLC bought a new position in Nucor in the fourth quarter valued at approximately $25,000. Valley National Advisers Inc. boosted its holdings in shares of Nucor by 716.7% in the 4th quarter. Valley National Advisers Inc. now owns 196 shares of the basic materials company’s stock valued at $34,000 after buying an additional 172 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of Nucor by 36.6% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 220 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 59 shares during the last quarter. OFI Invest Asset Management bought a new stake in Nucor in the third quarter valued at approximately $40,000. Finally, Exchange Traded Concepts LLC raised its stake in Nucor by 2,410.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 251 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 241 shares during the period. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Douglas J. Jellison sold 19,506 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the transaction, the executive vice president now directly owns 120,738 shares in the company, valued at approximately $23,351,936.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Nucor news, EVP Douglas J. Jellison sold 19,506 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $193.41, for a total value of $3,772,655.46. Following the completion of the sale, the executive vice president now owns 120,738 shares in the company, valued at approximately $23,351,936.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth Rex Query sold 5,500 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $186.37, for a total value of $1,025,035.00. Following the completion of the transaction, the executive vice president now owns 85,326 shares in the company, valued at $15,902,206.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 38,151 shares of company stock worth $7,308,683. 0.46% of the stock is owned by corporate insiders.

Nucor Stock Performance

Nucor stock opened at $172.76 on Thursday. The company has a quick ratio of 2.35, a current ratio of 4.02 and a debt-to-equity ratio of 0.31. Nucor Co. has a twelve month low of $129.79 and a twelve month high of $203.00. The company has a market capitalization of $41.46 billion, a PE ratio of 10.16 and a beta of 1.61. The firm has a fifty day simple moving average of $191.04 and a two-hundred day simple moving average of $174.17.

Nucor (NYSE:NUE) last released its earnings results on Monday, April 22nd. The basic materials company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.62 by ($0.16). The business had revenue of $8.14 billion during the quarter, compared to analysts’ expectations of $8.26 billion. Nucor had a return on equity of 19.62% and a net margin of 12.40%. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $4.45 earnings per share. Research analysts expect that Nucor Co. will post 12.93 EPS for the current year.

Nucor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Thursday, March 28th will be given a dividend of $0.54 per share. The ex-dividend date is Wednesday, March 27th. This represents a $2.16 annualized dividend and a dividend yield of 1.25%. Nucor’s dividend payout ratio (DPR) is presently 12.71%.

Analysts Set New Price Targets

NUE has been the subject of several recent research reports. UBS Group assumed coverage on Nucor in a research note on Tuesday, January 16th. They issued a “buy” rating and a $210.00 price target for the company. JPMorgan Chase & Co. reduced their target price on Nucor from $195.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday. BMO Capital Markets dropped their price objective on shares of Nucor from $210.00 to $200.00 and set a “market perform” rating for the company in a research note on Wednesday. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and lifted their price target for the company from $180.00 to $240.00 in a research note on Wednesday, March 13th. Finally, StockNews.com lowered Nucor from a “buy” rating to a “hold” rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $193.14.

Nucor Company 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.