BNP PARIBAS ASSET MANAGEMENT Holding S.A. Purchases 16,902 Shares of Nucor Co. (NYSE:NUE)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Nucor Co. (NYSE:NUE) by 49.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,943 shares of the basic materials company’s stock after purchasing an additional 16,902 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Nucor were worth $8,053,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of NUE. McClarren Financial Advisors Inc. increased its stake in Nucor by 129.0% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 158 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 89 shares in the last quarter. Rise Advisors LLC acquired a new position in shares of Nucor in the first quarter valued at approximately $27,000. Chilton Capital Management LLC increased its position in shares of Nucor by 94.2% during the first quarter. Chilton Capital Management LLC now owns 134 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 65 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of Nucor during the first quarter worth $28,000. Finally, Tompkins Financial Corp lifted its position in Nucor by 208.0% in the 1st quarter. Tompkins Financial Corp now owns 154 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 104 shares in the last quarter. 76.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NUE has been the topic of several recent research reports. Morgan Stanley raised Nucor from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $187.00 to $176.00 in a research note on Thursday, August 15th. Jefferies Financial Group began coverage on Nucor in a research report on Monday, May 20th. They issued a “hold” rating and a $190.00 target price on the stock. Argus raised Nucor to a “strong-buy” rating in a research report on Monday, August 26th. Bank of America lowered their price objective on shares of Nucor from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Finally, BMO Capital Markets reduced their target price on shares of Nucor from $185.00 to $175.00 and set a “market perform” rating for the company in a report on Monday, June 17th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $194.43.

Nucor Trading Up 1.3 %

NYSE NUE opened at $151.91 on Friday. Nucor Co. has a 12 month low of $139.41 and a 12 month high of $203.00. The company has a current ratio of 2.93, a quick ratio of 1.85 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $153.42 and a 200-day moving average of $170.79. The company has a market cap of $36.42 billion, a PE ratio of 8.94 and a beta of 1.57.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.37. The firm had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $7.69 billion. Nucor had a net margin of 10.45% and a return on equity of 15.69%. The company’s revenue for the quarter was down 15.2% compared to the same quarter last year. During the same quarter last year, the company posted $5.81 earnings per share. On average, equities research analysts anticipate that Nucor Co. will post 10.57 EPS for the current fiscal year.

Nucor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Shareholders of record on Friday, June 28th were paid a $0.54 dividend. The ex-dividend date was Friday, June 28th. This represents a $2.16 annualized dividend and a yield of 1.42%. Nucor’s dividend payout ratio is 12.71%.

Insider Activity

In related news, EVP Daniel R. Needham sold 8,624 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $160.00, for a total transaction of $1,379,840.00. Following the transaction, the executive vice president now directly owns 99,049 shares of the company’s stock, valued at approximately $15,847,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.

Nucor 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.