KAMES CAPITAL plc lessened its holdings in Nucor (NYSE:NUE) by 0.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 286,640 shares of the basic materials company’s stock after selling 2,673 shares during the period. KAMES CAPITAL plc owned 0.09% of Nucor worth $17,463,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of NUE. Luminus Management LLC increased its stake in Nucor by 303.4% in the 4th quarter. Luminus Management LLC now owns 1,654,324 shares of the basic materials company’s stock worth $105,182,000 after buying an additional 1,244,185 shares in the last quarter. Alps Advisors Inc. increased its stake in Nucor by 9,051.7% in the 4th quarter. Alps Advisors Inc. now owns 805,075 shares of the basic materials company’s stock worth $51,187,000 after buying an additional 796,278 shares in the last quarter. BlackRock Inc. increased its stake in Nucor by 3.2% in the 4th quarter. BlackRock Inc. now owns 22,382,353 shares of the basic materials company’s stock worth $1,423,070,000 after buying an additional 702,355 shares in the last quarter. Element Capital Management LLC purchased a new stake in Nucor in the 4th quarter worth $22,654,000. Finally, W. E. Donoghue & Co. LLC purchased a new stake in Nucor in the 4th quarter worth $18,578,000. Institutional investors and hedge funds own 78.50% of the company’s stock.
Nucor opened at $65.54 on Monday, according to Marketbeat Ratings. Nucor has a 52 week low of $51.67 and a 52 week high of $70.48. The stock has a market cap of $20.85 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 0.93 and a beta of 1.55. The company has a quick ratio of 1.18, a current ratio of 2.49 and a debt-to-equity ratio of 0.35.
Nucor (NYSE:NUE) last announced its quarterly earnings results on Thursday, April 19th. The basic materials company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.07. Nucor had a net margin of 6.33% and a return on equity of 12.94%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the firm earned $1.13 EPS. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. sell-side analysts forecast that Nucor will post 5.86 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, May 11th. Investors of record on Thursday, March 29th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Wednesday, March 28th. Nucor’s payout ratio is 43.30%.
In related news, Director Victoria F. Haynes sold 1,800 shares of the stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $60.91, for a total value of $109,638.00. Following the completion of the transaction, the director now owns 28,773 shares of the company’s stock, valued at approximately $1,752,563.43. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James D. Frias sold 39,037 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $68.31, for a total transaction of $2,666,617.47. Following the completion of the transaction, the chief financial officer now directly owns 177,204 shares of the company’s stock, valued at approximately $12,104,805.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,837 shares of company stock valued at $3,504,495. 0.80% of the stock is owned by insiders.
A number of equities research analysts have issued reports on the company. Credit Suisse Group increased their price target on Nucor from $67.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. BMO Capital Markets increased their price objective on shares of Nucor to $72.00 and gave the company a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. Morgan Stanley dropped their price objective on shares of Nucor from $70.00 to $68.00 and set a “hold” rating for the company in a report on Tuesday, February 6th. Zacks Investment Research raised shares of Nucor from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective for the company in a report on Tuesday, February 13th. Finally, Goldman Sachs began coverage on shares of Nucor in a report on Tuesday, March 20th. They set a “buy” rating and a $78.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $70.40.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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