Huntington National Bank trimmed its stake in Nucor Corporation (NYSE:NUE) by 12.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 104,105 shares of the basic materials company’s stock after selling 14,902 shares during the period. Huntington National Bank’s holdings in Nucor Corporation were worth $5,834,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Nucor Corporation by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock valued at $1,479,954,000 after purchasing an additional 319,596 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Nucor Corporation by 1,900.5% in the 1st quarter. BlackRock Inc. now owns 21,654,414 shares of the basic materials company’s stock valued at $1,293,202,000 after purchasing an additional 20,571,970 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Nucor Corporation by 15.0% in the 2nd quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after purchasing an additional 750,796 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Nucor Corporation by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,347 shares of the basic materials company’s stock valued at $258,776,000 after purchasing an additional 352,694 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Nucor Corporation by 53.6% in the 1st quarter. AQR Capital Management LLC now owns 2,513,579 shares of the basic materials company’s stock valued at $150,111,000 after purchasing an additional 877,194 shares during the last quarter. 74.75% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on NUE. Zacks Investment Research raised Nucor Corporation from a “sell” rating to a “hold” rating in a research note on Thursday. Cowen and Company raised their price objective on Nucor Corporation from $57.00 to $63.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Bank of America Corporation lowered their price objective on Nucor Corporation from $73.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, October 20th. Credit Suisse Group raised their price objective on Nucor Corporation from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Finally, Citigroup Inc. set a $66.00 price objective on Nucor Corporation and gave the company a “buy” rating in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Nucor Corporation presently has an average rating of “Hold” and a consensus price target of $67.32.
Nucor Corporation (NYSE:NUE) traded down $0.69 on Friday, reaching $55.83. The company’s stock had a trading volume of 2,552,000 shares, compared to its average volume of 2,363,350. The stock has a market cap of $17,749.31, a P/E ratio of 16.42, a P/E/G ratio of 1.25 and a beta of 1.59. Nucor Corporation has a one year low of $51.67 and a one year high of $68.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.13.
Nucor Corporation (NYSE:NUE) last released its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.19 billion. Nucor Corporation had a return on equity of 12.78% and a net margin of 5.80%. Nucor Corporation’s quarterly revenue was up 20.5% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. equities analysts anticipate that Nucor Corporation will post 3.72 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, September 29th were issued a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.51 annualized dividend and a yield of 2.70%. Nucor Corporation’s payout ratio is currently 43.90%.
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In other news, insider D. Chad Utermark sold 9,003 shares of Nucor Corporation stock in a transaction on Friday, October 27th. The stock was sold at an average price of $59.72, for a total value of $537,659.16. Following the transaction, the insider now directly owns 73,883 shares in the company, valued at approximately $4,412,292.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Victoria F. Haynes sold 2,500 shares of Nucor Corporation stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total value of $137,900.00. Following the completion of the transaction, the director now owns 33,573 shares in the company, valued at $1,851,886.68. The disclosure for this sale can be found here. Insiders have sold a total of 44,217 shares of company stock worth $2,608,231 over the last 90 days. 0.70% of the stock is currently owned by company insiders.
Nucor Corporation Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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