Commonwealth Equity Services Inc raised its holdings in Nucor Corporation (NYSE:NUE) by 9.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 173,957 shares of the basic materials company’s stock after purchasing an additional 14,948 shares during the quarter. Commonwealth Equity Services Inc owned 0.05% of Nucor Corporation worth $9,748,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Jennison Associates LLC grew its stake in shares of Nucor Corporation by 1.4% in the second quarter. Jennison Associates LLC now owns 7,140 shares of the basic materials company’s stock valued at $413,000 after buying an additional 99 shares in the last quarter. CWA Asset Management Group LLC grew its stake in shares of Nucor Corporation by 7.1% in the second quarter. CWA Asset Management Group LLC now owns 35,994 shares of the basic materials company’s stock valued at $2,083,000 after buying an additional 2,380 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Nucor Corporation by 8.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,237 shares of the basic materials company’s stock valued at $2,676,000 after buying an additional 3,792 shares in the last quarter. Swiss National Bank grew its stake in shares of Nucor Corporation by 3.1% in the second quarter. Swiss National Bank now owns 1,163,561 shares of the basic materials company’s stock valued at $67,335,000 after buying an additional 35,100 shares in the last quarter. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in shares of Nucor Corporation in the second quarter valued at $3,598,000. Institutional investors own 74.59% of the company’s stock.
NUE has been the subject of a number of research reports. Credit Suisse Group lifted 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. Zacks Investment Research raised Nucor Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Bank of America Corporation reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Nucor Corporation in a research note on Wednesday, September 6th. 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. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $63.00 price objective (up from $62.00) on shares of Nucor Corporation in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $67.32.
In other news, insider Ladd R. Hall sold 17,583 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $57.94, for a total value of $1,018,759.02. Following the completion of the sale, the insider now directly owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The disclosure for this sale can be found here. Insiders sold a total of 44,217 shares of company stock valued at $2,608,231 over the last three months. Company insiders own 0.70% of the company’s stock.
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Nucor Corporation (NYSE:NUE) traded down $0.15 during trading hours on Friday, hitting $54.79. The stock had a trading volume of 1,650,500 shares, compared to its average volume of 2,696,685. The firm has a market cap of $17,500.00, a PE ratio of 16.16, a P/E/G ratio of 1.24 and a beta of 1.59. Nucor Corporation has a twelve month low of $51.67 and a twelve month high of $68.00. The company has a current ratio of 2.11, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37.
Nucor Corporation (NYSE:NUE) last released its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Nucor Corporation had a return on equity of 12.78% and a net margin of 5.80%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 EPS. research analysts forecast that Nucor Corporation will post 3.7 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 29th were issued a $0.3775 dividend. This represents a $1.51 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Thursday, September 28th. Nucor Corporation’s payout ratio is currently 42.06%.
Nucor Corporation Company 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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