Point72 Italy S.r.l. Purchases New Holdings in Nucor Co. (NYSE:NUE)

Point72 Italy S.r.l. purchased a new stake in shares of Nucor Co. (NYSE:NUE) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 29,400 shares of the basic materials company’s stock, valued at approximately $4,420,000. Nucor accounts for approximately 1.4% of Point72 Italy S.r.l.’s portfolio, making the stock its 19th largest position.

A number of other large investors also recently bought and sold shares of the business. First Hawaiian Bank increased its stake in Nucor by 41.6% during the 2nd quarter. First Hawaiian Bank now owns 1,720 shares of the basic materials company’s stock valued at $272,000 after purchasing an additional 505 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Nucor in the second quarter worth approximately $38,000. Park Avenue Securities LLC grew its stake in shares of Nucor by 1.0% in the second quarter. Park Avenue Securities LLC now owns 8,914 shares of the basic materials company’s stock worth $1,409,000 after acquiring an additional 90 shares during the period. CWM LLC grew its stake in shares of Nucor by 16.0% in the second quarter. CWM LLC now owns 27,098 shares of the basic materials company’s stock worth $4,284,000 after acquiring an additional 3,743 shares during the period. Finally, Valeo Financial Advisors LLC grew its stake in shares of Nucor by 8.9% in the second quarter. Valeo Financial Advisors LLC now owns 4,118 shares of the basic materials company’s stock worth $651,000 after acquiring an additional 337 shares during the period. 76.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the completion of the sale, the chief executive officer now directly owns 172,136 shares of the company’s stock, valued at approximately $29,109,918.96. This represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the sale, the executive vice president now directly owns 98,770 shares of the company’s stock, valued at approximately $14,499,436. The trade was a 8.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,680 shares of company stock valued at $4,773,724 over the last three months. 0.64% of the stock is owned by company insiders.

Nucor Trading Down 0.9 %

Shares of NUE opened at $154.98 on Wednesday. The company’s fifty day moving average is $150.91 and its 200 day moving average is $153.02. Nucor Co. has a fifty-two week low of $133.42 and a fifty-two week high of $203.00. The stock has a market capitalization of $36.39 billion, a PE ratio of 14.97 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.61 and a current ratio of 2.59.

Nucor (NYSE:NUE) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.09. Nucor had a net margin of 8.05% and a return on equity of 12.06%. The business had revenue of $7.44 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter in the previous year, the business posted $4.57 earnings per share. The business’s revenue was down 15.2% compared to the same quarter last year. Sell-side analysts expect that Nucor Co. will post 8.5 earnings per share for the current fiscal year.

Nucor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 8th. Stockholders of record on Friday, September 27th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Friday, September 27th. Nucor’s payout ratio is presently 20.87%.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of Nucor from $170.00 to $166.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. BMO Capital Markets dropped their price objective on shares of Nucor from $175.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price objective on shares of Nucor from $170.00 to $168.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. The Goldman Sachs Group assumed coverage on shares of Nucor in a report on Monday. They issued a “buy” rating and a $190.00 price objective on the stock. Finally, Argus raised shares of Nucor to a “strong-buy” rating in a report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Nucor currently has an average rating of “Moderate Buy” and an average price target of $190.50.

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.