Stone Ridge Asset Management LLC Acquires Shares of 17,540 Nucor Co. (NUE)

Stone Ridge Asset Management LLC purchased a new position in Nucor Co. (NYSE:NUE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,540 shares of the basic materials company’s stock, valued at approximately $1,115,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Independence Bank of Kentucky purchased a new stake in Nucor during the 4th quarter worth approximately $100,000. Barrett Asset Management LLC purchased a new stake in Nucor during the 4th quarter worth approximately $101,000. Cerebellum GP LLC purchased a new stake in shares of Nucor in the fourth quarter valued at approximately $131,000. Financial Gravity Companies Inc. purchased a new stake in shares of Nucor in the fourth quarter valued at approximately $140,000. Finally, Dupont Capital Management Corp purchased a new stake in shares of Nucor in the fourth quarter valued at approximately $176,000. 80.08% of the stock is owned by institutional investors.

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Shares of NYSE NUE traded down $2.41 during mid-day trading on Friday, hitting $60.69. The company had a trading volume of 1,899,102 shares, compared to its average volume of 2,382,658. Nucor Co. has a 1-year low of $51.67 and a 1-year high of $70.48. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The stock has a market cap of $19,295.60, a P/E ratio of 17.29, a PEG ratio of 0.95 and a beta of 1.54.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.10. The company had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Nucor had a return on equity of 13.03% and a net margin of 6.58%. Nucor’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. equities analysts forecast that Nucor Co. will post 5.32 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, March 28th. Nucor’s payout ratio is 43.30%.

In other Nucor news, CFO James D. Frias sold 39,037 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $68.31, for a total transaction of $2,666,617.47. Following the transaction, the chief financial officer now owns 177,204 shares of the company’s stock, valued at $12,104,805.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman John J. Ferriola sold 14,313 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total value of $917,749.56. Following the transaction, the chairman now directly owns 333,775 shares in the company, valued at approximately $21,401,653. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 64,350 shares of company stock worth $4,312,607. Corporate insiders own 0.70% of the company’s stock.

A number of research firms have recently issued reports on NUE. Credit Suisse Group upped their price target on Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. BMO Capital Markets upped their price target on Nucor to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, January 31st. They noted that the move was a valuation call. Bank of America set a $75.00 price objective on Nucor and gave the stock a “buy” rating in a research report on Monday, January 8th. Morgan Stanley lowered their price objective on Nucor from $70.00 to $68.00 and set a “hold” rating for the company in a research report on Tuesday, February 6th. Finally, ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $69.54.

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Nucor Profile

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 (NYSE:NUE)

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