Nucor Co. (NUE) Shares Bought by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA boosted its position in shares of Nucor Co. (NYSE:NUE) by 78.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 295,733 shares of the basic materials company’s stock after buying an additional 130,036 shares during the period. BNP Paribas Arbitrage SA owned 0.09% of Nucor worth $17,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TCI Wealth Advisors Inc. raised its stake in shares of Nucor by 3.5% in the third quarter. TCI Wealth Advisors Inc. now owns 2,070 shares of the basic materials company’s stock worth $102,000 after buying an additional 70 shares during the last quarter. FNY Partners Fund LP acquired a new stake in shares of Nucor during the fourth quarter worth about $107,000. Ledyard National Bank acquired a new stake in shares of Nucor during the first quarter worth about $122,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Nucor during the fourth quarter worth about $127,000. Finally, Feltz Wealth PLAN Inc. acquired a new stake in shares of Nucor during the first quarter worth about $146,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

Nucor Co. (NYSE:NUE) traded up 1.5489% during trading on Friday, hitting $56.7455. The stock had a trading volume of 1,337,462 shares. Nucor Co. has a 52 week low of $44.81 and a 52 week high of $68.00. The stock has a 50-day moving average price of $59.44 and a 200-day moving average price of $60.29. The company has a market cap of $18.10 billion, a PE ratio of 17.0972 and a beta of 1.45.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Thursday, April 20th. The basic materials company reported $1.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by $0.03. Nucor had a return on equity of 9.32% and a net margin of 4.53%. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.67 billion. During the same period last year, the company earned $0.27 EPS. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. Equities analysts predict that Nucor Co. will post $4.53 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 11th. Investors of record on Friday, March 31st were given a $0.3775 dividend. This represents a $1.51 annualized dividend and a yield of 2.70%. The ex-dividend date was Wednesday, March 29th. Nucor’s dividend payout ratio (DPR) is presently 65.94%.

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Several analysts recently weighed in on the company. Berenberg Bank reissued a “buy” rating and issued a $75.00 price objective on shares of Nucor in a report on Sunday, February 5th. Zacks Investment Research raised Nucor from a “hold” rating to a “strong-buy” rating and set a $69.00 price objective for the company in a report on Tuesday, March 28th. JPMorgan Chase & Co. boosted their price objective on Nucor from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, March 22nd. Deutsche Bank AG boosted their price objective on Nucor from $73.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, March 21st. Finally, Morgan Stanley raised Nucor from an “equal weight” rating to an “overweight” rating and set a $78.00 price objective for the company in a report on Monday, February 13th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $68.22.

In other news, Director Victoria F. Haynes sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $61.52, for a total transaction of $184,560.00. Following the completion of the sale, the director now owns 33,703 shares of the company’s stock, valued at $2,073,408.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Raymond S. Napolitan, Jr. sold 12,400 shares of the firm’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $63.74, for a total transaction of $790,376.00. Following the sale, the insider now directly owns 73,885 shares of the company’s stock, valued at approximately $4,709,429.90. The disclosure for this sale can be found here. Insiders sold 80,263 shares of company stock valued at $5,021,549 in the last three months. Company insiders own 0.63% of the company’s stock.

About Nucor

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).

5 Day Chart for NYSE:NUE

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