Tredje AP fonden lifted its stake in Nucor Co. (NYSE:NUE) by 31.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,876 shares of the basic materials company’s stock after buying an additional 10,948 shares during the period. Tredje AP fonden’s holdings in Nucor were worth $2,588,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new position in Nucor during the 2nd quarter valued at about $100,000. Krilogy Financial LLC increased its holdings in Nucor by 4,594.6% during the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 1,700 shares during the period. Fiduciary Trust Co. purchased a new position in Nucor during the 2nd quarter valued at about $109,000. Sun Life Financial INC increased its holdings in Nucor by 23,290.0% during the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 2,329 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in Nucor by 791.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 2,373 shares during the period. Hedge funds and other institutional investors own 74.55% of the company’s stock.
In other news, insider Ladd R. Hall sold 17,583 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider D. Chad Utermark sold 9,003 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 73,883 shares in the company, valued at $4,412,292.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,217 shares of company stock worth $2,608,231. Insiders own 0.70% of the company’s stock.
A number of brokerages recently issued reports on NUE. BMO Capital Markets restated a “market perform” rating and set a $62.00 price target (down previously from $70.00) on shares of Nucor in a report on Monday, September 18th. KeyCorp restated a “hold” rating on shares of Nucor in a report on Thursday, October 19th. Bank of America reaffirmed a “buy” rating and set a $73.00 price objective on shares of Nucor in a research report on Wednesday, September 6th. Morgan Stanley cut Nucor from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $78.00 to $60.00 in a research report on Tuesday, September 12th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Nucor in a research report on Saturday, September 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $67.32.
Shares of Nucor Co. (NUE) traded down $1.22 on Tuesday, hitting $57.60. The stock had a trading volume of 761,125 shares, compared to its average volume of 2,678,714. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $68.00. The company has a market cap of $18,380.00, a PE ratio of 16.85, a P/E/G ratio of 1.29 and a beta of 1.58.
Nucor (NYSE:NUE) last issued its quarterly 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. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the previous year, the firm posted $0.88 EPS. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. sell-side analysts forecast that Nucor Co. will post 3.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be given a $0.38 dividend. This is a boost from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, December 28th. Nucor’s payout ratio is currently 42.06%.
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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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