Jupiter Topco LLC Invests $6.86 Million in Nucor Corporation $NUE

Jupiter Topco LLC bought a new stake in shares of Nucor Corporation (NYSE:NUE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 30,812 shares of the basic materials company’s stock, valued at approximately $6,861,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Nucor during the second quarter valued at $4,452,563,000. Norges Bank purchased a new position in shares of Nucor during the 4th quarter worth about $609,002,000. Bank of New York Mellon Corp bought a new position in Nucor during the 2nd quarter valued at about $330,902,000. Legal & General Group Plc bought a new position in Nucor during the 2nd quarter valued at about $324,154,000. Finally, Deutsche Bank AG purchased a new stake in Nucor in the 2nd quarter worth about $220,176,000. Hedge funds and other institutional investors own 76.48% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Bank of America decreased their price objective on shares of Nucor from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. BMO Capital Markets upped their target price on Nucor from $285.00 to $295.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. CICC Research began coverage on Nucor in a report on Monday, May 25th. They issued an “outperform” rating on the stock. BNP Paribas Exane raised their price target on Nucor from $210.00 to $248.00 and gave the stock an “outperform” rating in a research note on Monday, May 4th. Finally, Wall Street Zen upgraded Nucor from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Thirteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $272.38.

Nucor Trading Up 0.1%

NUE stock opened at $250.84 on Monday. Nucor Corporation has a 12 month low of $131.32 and a 12 month high of $280.11. The firm’s 50-day moving average is $246.64 and its 200 day moving average is $219.15. The company has a market capitalization of $56.91 billion, a PE ratio of 20.00, a P/E/G ratio of 0.93 and a beta of 1.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.51 and a quick ratio of 1.36.

Nucor (NYSE:NUE) last released its quarterly earnings data on Monday, July 27th. The basic materials company reported $4.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.46 by $0.38. The company had revenue of $10.40 billion during the quarter, compared to analysts’ expectations of $10.15 billion. Nucor had a net margin of 7.99% and a return on equity of 12.73%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.60 EPS. On average, research analysts anticipate that Nucor Corporation will post 17.95 EPS for the current year.

Nucor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 11th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Nucor’s payout ratio is currently 17.86%.

Insider Activity at Nucor

In other Nucor news, EVP John J. Hollatz sold 10,560 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $258.46, for a total transaction of $2,729,337.60. Following the transaction, the executive vice president directly owned 97,865 shares in the company, valued at $25,294,187.90. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Stephen D. Laxton sold 3,968 shares of Nucor stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $256.96, for a total value of $1,019,617.28. Following the sale, the chief operating officer directly owned 77,867 shares of the company’s stock, valued at approximately $20,008,704.32. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 18,528 shares of company stock worth $4,793,035. Company insiders own 0.62% of the company’s stock.

About Nucor

Nucor Corporation (NYSE: NUE) is an American steel producer headquartered in Charlotte, North Carolina. The company is primarily engaged in the manufacture and sale of steel and steel products, operating a network of steel mills, recycling facilities and fabrication plants across the United States and North America. Nucor’s operations emphasize electric arc furnace steelmaking using recycled scrap metal, which supports a decentralized, mill-based production model focused on efficiency and flexibility.

Product offerings span a broad range of basic and value‑added steel items, including sheet, plate, merchant bar, structural beams, reinforcing bar, tubing, fasteners and fabricated components.