BlueCrest Capital Management Ltd Acquires New Stake in Nucor Corporation (NYSE:NUE)

BlueCrest Capital Management Ltd acquired a new stake in Nucor Corporation (NYSE:NUE) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,427 shares of the basic materials company’s stock, valued at approximately $372,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mckinley Capital Management LLC Delaware bought a new position in Nucor Corporation in the 2nd quarter valued at approximately $100,000. Washington Trust Bank raised its holdings in Nucor Corporation by 60.2% in the 2nd quarter. Washington Trust Bank now owns 1,756 shares of the basic materials company’s stock valued at $102,000 after buying an additional 660 shares during the last quarter. Fiduciary Trust Co. bought a new position in Nucor Corporation in the 2nd quarter valued at approximately $109,000. Sun Life Financial INC raised its holdings in Nucor Corporation by 23,290.0% in the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after buying an additional 2,329 shares during the last quarter. Finally, Valley National Advisers Inc. raised its holdings in Nucor Corporation by 12.0% in the 1st quarter. Valley National Advisers Inc. now owns 2,340 shares of the basic materials company’s stock valued at $140,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 74.76% of the company’s stock.

Several research analysts have issued reports on NUE shares. Macquarie started coverage on shares of Nucor Corporation in a report on Wednesday, September 6th. They set a “neutral” rating and a $57.00 price target for the company. ValuEngine lowered shares of Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group LLC set a $68.00 price target on shares of Nucor Corporation and gave the stock a “buy” rating in a report on Monday, August 21st. Credit Suisse Group raised their price target on shares of Nucor Corporation from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Finally, Citigroup Inc. set a $66.00 price target on shares of Nucor Corporation and gave the stock a “buy” rating in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. Nucor Corporation has an average rating of “Hold” and a consensus target price of $67.32.

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Nucor Corporation (NYSE NUE) traded down 0.22% during mid-day trading on Friday, hitting $59.60. 205,616 shares of the stock traded hands. The firm has a market capitalization of $19.04 billion, a P/E ratio of 16.73 and a beta of 1.54. Nucor Corporation has a 1-year low of $46.61 and a 1-year high of $68.00. The company has a 50-day moving average of $55.99 and a 200 day moving average of $57.46.

Nucor Corporation (NYSE:NUE) last posted its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. Nucor Corporation had a return on equity of 12.77% and a net margin of 5.80%. The firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. On average, equities research analysts anticipate that Nucor Corporation will post $3.75 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Friday, September 29th will be issued a $0.3775 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.51 dividend on an annualized basis and a yield of 2.53%. Nucor Corporation’s dividend payout ratio (DPR) is 43.90%.

In other Nucor Corporation news, Director Victoria F. Haynes sold 2,500 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the completion of the transaction, the director now owns 33,573 shares in the company, valued at $1,851,886.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman John J. Ferriola sold 15,131 shares of the stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $60.40, for a total value of $913,912.40. Following the completion of the transaction, the chairman now owns 349,506 shares of the company’s stock, valued at approximately $21,110,162.40. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.

About Nucor Corporation

Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).

Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

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