State Treasurer State of Michigan lessened its position in Nucor Corporation (NYSE:NUE) by 7.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,911 shares of the basic materials company’s stock after selling 7,900 shares during the quarter. State Treasurer State of Michigan’s holdings in Nucor Corporation were worth $5,431,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Nucor Corporation by 1.3% during the second quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock worth $1,479,954,000 after buying an additional 319,596 shares in the last quarter. BlackRock Inc. lifted its position in Nucor Corporation by 1,900.5% during the first quarter. BlackRock Inc. now owns 21,654,414 shares of the basic materials company’s stock worth $1,293,202,000 after buying an additional 20,571,970 shares in the last quarter. Northern Trust Corp lifted its position in Nucor Corporation by 15.0% during the second quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock worth $333,275,000 after buying an additional 750,796 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Nucor Corporation by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,471,347 shares of the basic materials company’s stock worth $258,776,000 after buying an additional 352,694 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in Nucor Corporation by 53.6% during the first quarter. AQR Capital Management LLC now owns 2,513,579 shares of the basic materials company’s stock worth $150,111,000 after buying an additional 877,194 shares in the last quarter. Institutional investors and hedge funds own 74.75% of the company’s stock.
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In other Nucor Corporation news, Chairman John J. Ferriola sold 15,131 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $60.40, for a total transaction of $913,912.40. Following the transaction, the chairman now owns 349,506 shares in the company, valued at approximately $21,110,162.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the transaction, the director now owns 33,573 shares in the company, valued at approximately $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 in the last quarter. 0.70% of the stock is currently owned by insiders.
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 company has a current ratio of 2.11, a quick ratio of 1.13 and a debt-to-equity ratio of 0.37. The stock has a market cap of $17,749.31, a P/E ratio of 16.42, a PEG ratio of 1.25 and a beta of 1.59. Nucor Corporation has a 12-month low of $51.67 and a 12-month high of $68.00.
Nucor Corporation (NYSE:NUE) last posted its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The firm had revenue of $5.17 billion during 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%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. analysts predict that Nucor Corporation will post 3.72 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, September 29th were given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, September 28th. Nucor Corporation’s payout ratio is 43.90%.
A number of brokerages recently commented on NUE. Cowen and Company reiterated a “market perform” rating and set a $63.00 price objective (up previously from $62.00) on shares of Nucor Corporation in a research report on Tuesday, July 25th. Morgan Stanley restated a “buy” rating on shares of Nucor Corporation in a research report on Tuesday, July 18th. Zacks Investment Research cut Nucor Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Berenberg Bank reaffirmed a “buy” rating and issued a $77.50 price objective on shares of Nucor Corporation in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Nucor Corporation in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $67.32.
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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