D.A. Davidson & CO. lifted its position in shares of Nucor Corporation (NYSE:NUE) by 11.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,627 shares of the basic materials company’s stock after purchasing an additional 6,905 shares during the period. D.A. Davidson & CO.’s holdings in Nucor Corporation were worth $3,901,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 319,596 shares in the last quarter. Northern Trust Corp increased its position in shares of 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 purchasing an additional 750,796 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of 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 purchasing an additional 352,694 shares in the last quarter. Prudential PLC increased its position in shares of Nucor Corporation by 28.2% during the second quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock worth $130,804,000 after purchasing an additional 496,700 shares in the last quarter. Finally, Boston Partners increased its position in shares of Nucor Corporation by 3.7% during the third quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock worth $109,897,000 after purchasing an additional 70,358 shares in the last quarter. Institutional investors and hedge funds own 74.92% of the company’s stock.
A number of analysts have recently commented on NUE shares. Longbow Research reiterated a “buy” rating and set a $66.00 target price on shares of Nucor Corporation in a research report on Thursday, July 27th. BidaskClub cut Nucor Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC set a $68.00 target price on Nucor Corporation and gave the stock a “buy” rating in a research report on Monday, August 21st. BMO Capital Markets set a $70.00 target price on Nucor Corporation and gave the stock a “hold” rating in a research report on Saturday, August 26th. Finally, ValuEngine cut Nucor Corporation from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the stock. Nucor Corporation has an average rating of “Hold” and an average price target of $67.32.
Shares of Nucor Corporation (NUE) traded up $0.17 during mid-day trading on Thursday, reaching $56.15. The company had a trading volume of 995,200 shares, compared to its average volume of 2,672,644. Nucor Corporation has a 1 year low of $51.67 and a 1 year high of $68.00. The firm has a market cap of $17,910.00, a PE ratio of 16.47, a PEG ratio of 1.26 and a beta of 1.59. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.01. Nucor Corporation had a return on equity of 12.78% and a net margin of 5.80%. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. equities research analysts predict that Nucor Corporation will post 3.69 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, September 29th were issued a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Thursday, September 28th. Nucor Corporation’s dividend payout ratio is presently 42.06%.
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In other Nucor Corporation news, Director Victoria F. Haynes sold 2,500 shares of Nucor Corporation 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 sale, the director now owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider D. Chad Utermark sold 9,003 shares of Nucor Corporation stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $59.72, for a total value of $537,659.16. Following the completion of the sale, the insider now directly owns 73,883 shares in the company, valued at approximately $4,412,292.76. The disclosure for this sale can be found here. Insiders sold a total of 44,217 shares of company stock worth $2,608,231 in the last ninety days. 0.70% of the stock is owned by corporate 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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