Counterpoint Mutual Funds LLC Purchases New Position in Nucor Corporation $NUE

Counterpoint Mutual Funds LLC purchased a new stake in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,712 shares of the basic materials company’s stock, valued at approximately $351,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Toronto Dominion Bank raised its position in Nucor by 6.7% in the fourth quarter. Toronto Dominion Bank now owns 125,280 shares of the basic materials company’s stock valued at $14,621,000 after purchasing an additional 7,834 shares during the last quarter. Mackenzie Financial Corp raised its position in Nucor by 16.6% in the fourth quarter. Mackenzie Financial Corp now owns 24,748 shares of the basic materials company’s stock valued at $2,888,000 after purchasing an additional 3,517 shares during the last quarter. Ameriflex Group Inc. bought a new position in Nucor in the fourth quarter valued at about $57,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Nucor during the 4th quarter worth approximately $15,668,000. Finally, Park Square Financial Group LLC acquired a new stake in Nucor during the 4th quarter worth approximately $48,000. 76.48% of the stock is owned by institutional investors.

Nucor Stock Performance

Shares of NUE stock opened at $136.16 on Thursday. The firm has a 50-day moving average of $142.71 and a 200-day moving average of $128.68. The company has a market cap of $31.25 billion, a P/E ratio of 24.58, a P/E/G ratio of 0.93 and a beta of 1.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.83 and a quick ratio of 1.51. Nucor Corporation has a one year low of $97.59 and a one year high of $170.52.

Nucor (NYSE:NUE) last announced its earnings results on Monday, July 28th. The basic materials company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.54 by $0.06. The company had revenue of $8.46 billion during the quarter, compared to the consensus estimate of $8.47 billion. Nucor had a net margin of 4.21% and a return on equity of 6.65%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.68 earnings per share. Equities research analysts forecast that Nucor Corporation will post 7.64 EPS for the current fiscal year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 10th. Stockholders of record on Tuesday, September 30th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.20 annualized dividend and a dividend yield of 1.6%. Nucor’s dividend payout ratio is currently 39.71%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Nucor from $134.00 to $149.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. Bank of America boosted their price target on shares of Nucor from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. UBS Group lowered their price objective on shares of Nucor from $153.00 to $147.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. BMO Capital Markets upgraded shares of Nucor from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $140.00 to $145.00 in a research note on Monday, June 2nd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Nucor from $143.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.20.

Insider Activity

In related news, EVP Kenneth Rex Query sold 10,000 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $144.90, for a total value of $1,449,000.00. Following the transaction, the executive vice president directly owned 84,080 shares of the company’s stock, valued at approximately $12,183,192. The trade was a 10.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Daniel R. Needham sold 7,200 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $146.00, for a total transaction of $1,051,200.00. Following the sale, the executive vice president owned 92,179 shares of the company’s stock, valued at $13,458,134. This trade represents a 7.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,309 shares of company stock worth $4,553,771. Company insiders own 0.46% of the company’s stock.

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.