Rhumbline Advisers increased its holdings in Nucor Corporation (NYSE:NUE) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 559,037 shares of the basic materials company’s stock after buying an additional 7,570 shares during the period. Rhumbline Advisers owned 0.18% of Nucor Corporation worth $31,328,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in NUE. James Investment Research Inc. bought a new position in Nucor Corporation in the 2nd quarter worth approximately $1,187,000. Oregon Public Employees Retirement Fund boosted its holdings in Nucor Corporation by 3.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 73,612 shares of the basic materials company’s stock worth $4,260,000 after buying an additional 2,400 shares during the period. Louisiana State Employees Retirement System boosted its holdings in Nucor Corporation by 1.0% in the 2nd quarter. Louisiana State Employees Retirement System now owns 19,800 shares of the basic materials company’s stock worth $1,146,000 after buying an additional 200 shares during the period. Aperio Group LLC boosted its holdings in Nucor Corporation by 14.4% in the 2nd quarter. Aperio Group LLC now owns 95,462 shares of the basic materials company’s stock worth $5,524,000 after buying an additional 12,010 shares during the period. Finally, Butensky & Cohen Financial Security Inc. boosted its holdings in Nucor Corporation by 4.1% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 24,645 shares of the basic materials company’s stock worth $1,426,000 after buying an additional 980 shares during the period. 74.59% of the stock is owned by institutional investors.
Shares of Nucor Corporation (NYSE NUE) opened at $54.80 on Friday. The stock has a market cap of $17,420.00, a price-to-earnings ratio of 16.14, a PEG ratio of 1.24 and a beta of 1.59. Nucor Corporation has a fifty-two week low of $51.67 and a fifty-two week 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 issued its earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.19 billion. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.78%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 EPS. research analysts predict that Nucor Corporation will post 3.7 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 9th. Investors of record on Friday, September 29th were given a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Thursday, September 28th. Nucor Corporation’s payout ratio is presently 42.06%.
Several research analysts have commented on NUE shares. Bank of America Corporation reissued a “buy” rating and issued a $73.00 price target on shares of Nucor Corporation in a report on Wednesday, September 6th. Jefferies Group LLC set a $68.00 price target on shares of Nucor Corporation and gave the company a “buy” rating in a report on Monday, August 21st. Longbow Research reissued a “buy” rating and issued a $66.00 price target on shares of Nucor Corporation in a report on Thursday, July 27th. Citigroup Inc. raised shares of Nucor Corporation from a “neutral” rating to a “buy” rating and raised their price target for the company from $53.60 to $65.00 in a report on Thursday, September 14th. Finally, Credit Suisse Group cut their price target on shares of Nucor Corporation from $68.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. Nucor Corporation has an average rating of “Hold” and a consensus target price of $67.32.
In related news, Chairman John J. Ferriola sold 15,131 shares of Nucor Corporation stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $60.40, for a total value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of Nucor Corporation stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of 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. In the last quarter, insiders sold 44,217 shares of company stock worth $2,608,231. 0.70% of the stock is owned by corporate insiders.
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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