Asset Management One Co. Ltd. lifted its stake in Nucor Co. (NYSE:NUE - Free Report) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,671 shares of the basic materials company's stock after buying an additional 4,699 shares during the period. Asset Management One Co. Ltd.'s holdings in Nucor were worth $13,932,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Central Pacific Bank Trust Division purchased a new position in shares of Nucor in the first quarter valued at about $28,000. Signaturefd LLC raised its position in Nucor by 6.5% during the 1st quarter. Signaturefd LLC now owns 6,145 shares of the basic materials company's stock valued at $1,216,000 after purchasing an additional 376 shares during the last quarter. Empirical Finance LLC lifted its holdings in Nucor by 2.4% in the 1st quarter. Empirical Finance LLC now owns 12,532 shares of the basic materials company's stock worth $2,480,000 after buying an additional 295 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in shares of Nucor by 32.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,638 shares of the basic materials company's stock worth $1,314,000 after buying an additional 1,614 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Nucor by 4,453.7% during the first quarter. SG Americas Securities LLC now owns 110,064 shares of the basic materials company's stock valued at $21,782,000 after buying an additional 107,647 shares during the period. Institutional investors own 76.48% of the company's stock.
Nucor Stock Down 3.9 %
Shares of NYSE NUE traded down $6.57 on Thursday, reaching $161.17. 2,608,016 shares of the company's stock traded hands, compared to its average volume of 1,537,997. The business's 50 day simple moving average is $147.68 and its two-hundred day simple moving average is $155.96. Nucor Co. has a 12 month low of $133.42 and a 12 month high of $203.00. The company has a market cap of $38.25 billion, a price-to-earnings ratio of 15.57 and a beta of 1.55. The company has a quick ratio of 1.61, a current ratio of 2.59 and a debt-to-equity ratio of 0.26.
Nucor (NYSE:NUE - Get Free Report) last posted its quarterly earnings data on Monday, October 21st. The basic materials company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.28 billion. During the same quarter last year, the company earned $4.57 EPS. The firm's revenue for the quarter was down 15.2% on a year-over-year basis. As a group, equities research analysts forecast that Nucor Co. will post 8.65 EPS for the current fiscal year.
Nucor Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, September 27th. Nucor's dividend payout ratio (DPR) is currently 20.87%.
Insider Buying and Selling
In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the sale, the chief executive officer now directly owns 172,136 shares in the company, valued at approximately $29,109,918.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Nucor news, CEO Leon J. Topalian sold 11,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $169.11, for a total transaction of $1,860,210.00. Following the transaction, the chief executive officer now owns 172,136 shares in the company, valued at approximately $29,109,918.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kenneth Rex Query sold 9,000 shares of Nucor stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the completion of the sale, the executive vice president now owns 98,770 shares of the company's stock, valued at $14,499,436. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,712 shares of company stock worth $3,980,235 in the last three months. Insiders own 0.64% of the company's stock.
Analyst Ratings Changes
A number of analysts recently commented on NUE shares. BMO Capital Markets dropped their price target on Nucor from $175.00 to $160.00 and set a "market perform" rating for the company in a research note on Wednesday, September 18th. Morgan Stanley reduced their price target on shares of Nucor from $170.00 to $166.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. decreased their price target on shares of Nucor from $170.00 to $168.00 and set an "overweight" rating for the company in a research note on Wednesday, October 23rd. Finally, Argus raised Nucor to a "strong-buy" rating in a research report on Monday, August 26th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $190.57.
Check Out Our Latest Report on NUE
Nucor Profile
(
Free Report)
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.
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