Duality Advisers LP Buys Shares of 63,770 Nucor Co. (NUE)

Duality Advisers LP bought a new position in Nucor Co. (NYSE:NUE) in the 4th quarter, HoldingsChannel reports. The firm bought 63,770 shares of the basic materials company’s stock, valued at approximately $3,304,000.

Several other hedge funds have also recently modified their holdings of NUE. Russell Investments Group Ltd. grew its stake in Nucor by 65.5% during the third quarter. Russell Investments Group Ltd. now owns 177,419 shares of the basic materials company’s stock worth $11,232,000 after buying an additional 70,211 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Nucor by 23.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 224,557 shares of the basic materials company’s stock worth $14,268,000 after buying an additional 41,917 shares in the last quarter. Victory Capital Management Inc. grew its stake in Nucor by 290.1% during the third quarter. Victory Capital Management Inc. now owns 185,401 shares of the basic materials company’s stock worth $11,764,000 after buying an additional 137,871 shares in the last quarter. Private Advisor Group LLC grew its stake in Nucor by 66.7% during the third quarter. Private Advisor Group LLC now owns 21,232 shares of the basic materials company’s stock worth $1,347,000 after buying an additional 8,495 shares in the last quarter. Finally, Commerce Bank grew its stake in Nucor by 9.5% during the third quarter. Commerce Bank now owns 10,123 shares of the basic materials company’s stock worth $642,000 after buying an additional 877 shares in the last quarter. Institutional investors and hedge funds own 76.28% of the company’s stock.

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NUE opened at $57.79 on Friday. Nucor Co. has a 1-year low of $49.79 and a 1-year high of $68.97. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.45 and a current ratio of 3.08. The company has a market capitalization of $18.26 billion, a PE ratio of 7.58, a P/E/G ratio of 0.85 and a beta of 1.51.

Nucor (NYSE:NUE) last posted its quarterly earnings results on Tuesday, January 29th. The basic materials company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.93 by $0.14. Nucor had a net margin of 9.42% and a return on equity of 24.57%. The company had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.29 billion. During the same period last year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, analysts expect that Nucor Co. will post 5.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, March 29th will be paid a $0.40 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.77%. Nucor’s payout ratio is currently 21.00%.

In other news, Chairman John J. Ferriola sold 87,719 shares of the firm’s stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $60.35, for a total value of $5,293,841.65. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.80% of the company’s stock.

A number of brokerages have issued reports on NUE. UBS Group set a $59.00 price objective on shares of Nucor and gave the stock a “hold” rating in a research note on Monday, December 10th. Zacks Investment Research downgraded shares of Nucor from a “hold” rating to a “strong sell” rating in a research note on Friday, February 1st. ValuEngine downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research note on Thursday, February 14th. Cowen began coverage on shares of Nucor in a research note on Tuesday, January 8th. They set an “outperform” rating and a $62.00 price objective on the stock. Finally, KeyCorp reiterated a “buy” rating and set a $72.00 price objective on shares of Nucor in a research note on Friday, November 30th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $71.45.

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Nucor Profile

Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. 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; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.

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