Ceredex Value Advisors LLC acquired a new stake in shares of Nucor Co. (NYSE:NUE - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 495,963 shares of the basic materials company's stock, valued at approximately $74,829,000. Nucor accounts for about 1.5% of Ceredex Value Advisors LLC's holdings, making the stock its 18th largest holding. Ceredex Value Advisors LLC owned 0.21% of Nucor as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Norden Group LLC acquired a new position in Nucor during the first quarter worth approximately $1,847,000. First Trust Direct Indexing L.P. increased its holdings in shares of Nucor by 11.7% during the 1st quarter. First Trust Direct Indexing L.P. now owns 5,308 shares of the basic materials company's stock worth $1,050,000 after buying an additional 558 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in shares of Nucor by 80.5% in the 1st quarter. J.W. Cole Advisors Inc. now owns 2,296 shares of the basic materials company's stock worth $454,000 after buying an additional 1,024 shares during the period. Prosperity Consulting Group LLC acquired a new position in Nucor in the first quarter valued at $238,000. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Nucor by 6.8% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,310 shares of the basic materials company's stock valued at $1,249,000 after acquiring an additional 399 shares during the period. Institutional investors and hedge funds own 76.48% of the company's stock.
Insider Buying and Selling
In other Nucor news, EVP Kenneth Rex Query sold 9,000 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $146.80, for a total transaction of $1,321,200.00. Following the transaction, the executive vice president now directly owns 98,770 shares in the company, valued at $14,499,436. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.46% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Morgan Stanley cut their price objective on Nucor from $170.00 to $166.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. BMO Capital Markets reduced their price target on shares of Nucor from $175.00 to $160.00 and set a "market perform" rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. decreased their price objective 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 shares of Nucor to a "strong-buy" rating in a research note on Monday, August 26th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $190.57.
View Our Latest Research Report on Nucor
Nucor Stock Up 1.2 %
Nucor stock traded up $1.72 during midday trading on Friday, hitting $143.56. 1,106,005 shares of the stock were exchanged, compared to its average volume of 1,891,286. 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 company has a 50 day moving average price of $147.56 and a two-hundred day moving average price of $156.80. The firm has a market cap of $34.07 billion, a P/E ratio of 13.87 and a beta of 1.55. Nucor Co. has a 1 year low of $133.42 and a 1 year high of $203.00.
Nucor (NYSE:NUE - Get Free Report) last released its quarterly earnings results on Monday, October 21st. The basic materials company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.40 by $0.09. Nucor had a return on equity of 12.06% and a net margin of 8.05%. The business had revenue of $7.44 billion for the quarter, compared to analysts' expectations of $7.28 billion. During the same quarter in the previous year, the firm posted $4.57 earnings per share. The company's revenue was down 15.2% compared to the same quarter last year. On average, sell-side analysts predict that Nucor Co. will post 8.65 earnings per share for the current fiscal year.
Nucor Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, September 27th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, September 27th. Nucor's payout ratio is currently 20.87%.
About Nucor
(
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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