Regal Partners Ltd Takes $13.15 Million Position in Nucor Co. (NYSE:NUE)

Regal Partners Ltd acquired a new position in shares of Nucor Co. (NYSE:NUE - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 87,445 shares of the basic materials company's stock, valued at approximately $13,146,000. Nucor makes up about 1.2% of Regal Partners Ltd's portfolio, making the stock its 24th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NUE. Headlands Technologies LLC bought a new position in shares of Nucor during the first quarter valued at approximately $53,000. Bleakley Financial Group LLC increased its stake in Nucor by 3.8% in the first quarter. Bleakley Financial Group LLC now owns 5,204 shares of the basic materials company's stock worth $1,030,000 after purchasing an additional 189 shares during the period. SageView Advisory Group LLC lifted its position in shares of Nucor by 42.5% during the first quarter. SageView Advisory Group LLC now owns 3,158 shares of the basic materials company's stock worth $625,000 after purchasing an additional 942 shares during the last quarter. TBH Global Asset Management LLC purchased a new stake in shares of Nucor during the first quarter valued at $281,000. Finally, HBK Sorce Advisory LLC grew its holdings in shares of Nucor by 13.1% in the first quarter. HBK Sorce Advisory LLC now owns 3,965 shares of the basic materials company's stock worth $785,000 after purchasing an additional 459 shares during the last quarter. 76.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Stephen D. Laxton sold 4,712 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $169.53, for a total transaction of $798,825.36. Following the sale, the chief financial officer now directly owns 82,132 shares of the company's stock, valued at approximately $13,923,837.96. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Allen C. Behr sold 4,968 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $159.72, for a total value of $793,488.96. Following the sale, the executive vice president now owns 85,376 shares in the company, valued at $13,636,254.72. This trade represents a 5.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,680 shares of company stock valued at $4,773,724. 0.46% of the stock is owned by company insiders.

Nucor Stock Down 3.8 %

Nucor stock traded down $5.82 during trading hours on Thursday, reaching $146.38. The stock had a trading volume of 1,791,558 shares, compared to its average volume of 1,549,697. Nucor Co. has a 52 week low of $133.42 and a 52 week high of $203.00. The company has a market cap of $34.37 billion, a price-to-earnings ratio of 14.58 and a beta of 1.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.59 and a quick ratio of 1.61. The business's 50 day moving average price is $148.58 and its 200-day moving average price is $155.22.

Nucor (NYSE:NUE - Get Free Report) last released its earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.09. The company had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.28 billion. Nucor had a net margin of 8.05% and a return on equity of 12.06%. Nucor's revenue for the quarter was down 15.2% on a year-over-year basis. During the same period last year, the business earned $4.57 EPS. Sell-side analysts anticipate that Nucor Co. will post 8.52 EPS for the current year.

Nucor Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were paid a $0.54 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 1.48%. Nucor's dividend payout ratio (DPR) is 20.87%.

Analyst Upgrades and Downgrades

NUE has been the topic of several research reports. BMO Capital Markets reduced their price objective on Nucor from $175.00 to $160.00 and set a "market perform" rating on the stock in a report on Wednesday, September 18th. Argus upgraded Nucor to a "strong-buy" rating in a report on Monday, August 26th. JPMorgan Chase & Co. cut their target price on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. Finally, 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 report on Wednesday, October 23rd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Nucor currently has a consensus rating of "Moderate Buy" and an average price target of $190.57.

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.