MUFG Securities EMEA plc bought a new position in Nucor Co. (NYSE:NUE) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,000 shares of the basic materials company’s stock, valued at approximately $496,000.
Several other hedge funds have also recently added to or reduced their stakes in NUE. First Trust Advisors LP lifted its stake in shares of Nucor by 173.1% in the 1st quarter. First Trust Advisors LP now owns 1,084,759 shares of the basic materials company’s stock worth $63,296,000 after acquiring an additional 687,564 shares during the period. Geode Capital Management LLC increased its holdings in shares of Nucor by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock valued at $258,607,000 after purchasing an additional 506,988 shares in the last quarter. Capital Wealth Planning LLC increased its holdings in shares of Nucor by 4,741.0% in the 2nd quarter. Capital Wealth Planning LLC now owns 393,570 shares of the basic materials company’s stock valued at $21,686,000 after purchasing an additional 385,440 shares in the last quarter. FMR LLC increased its holdings in shares of Nucor by 123.0% in the 1st quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock valued at $39,337,000 after purchasing an additional 371,876 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Nucor by 71.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 807,228 shares of the basic materials company’s stock valued at $44,478,000 after purchasing an additional 336,721 shares in the last quarter. Institutional investors own 77.35% of the company’s stock.
A number of brokerages have recently issued reports on NUE. Citigroup set a $60.00 price target on shares of Nucor and gave the company a “buy” rating in a report on Tuesday, June 11th. ValuEngine downgraded shares of Nucor from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. KeyCorp cut their price target on shares of Nucor from $61.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Bank of America cut their price target on shares of Nucor from $50.00 to $46.00 and set an “underperform” rating for the company in a report on Wednesday, September 4th. Finally, Credit Suisse Group set a $61.00 price target on shares of Nucor and gave the company a “buy” rating in a report on Friday, July 19th. Three analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $62.40.
In other news, Chairman John J. Ferriola sold 19,193 shares of Nucor stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $56.37, for a total transaction of $1,081,909.41. Following the completion of the sale, the chairman now directly owns 475,921 shares in the company, valued at $26,827,666.77. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ladd R. Hall sold 28,998 shares of Nucor stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $56.90, for a total transaction of $1,649,986.20. Following the sale, the insider now owns 292,776 shares of the company’s stock, valued at $16,658,954.40. The disclosure for this sale can be found here. Insiders have sold a total of 61,203 shares of company stock valued at $3,465,601 over the last 90 days. 0.96% of the stock is currently owned by insiders.
NYSE:NUE traded up $0.70 during mid-day trading on Friday, hitting $54.39. 93,833 shares of the company’s stock traded hands, compared to its average volume of 1,662,531. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.76 and a current ratio of 3.56. The firm’s 50 day simple moving average is $50.80 and its 200 day simple moving average is $54.65. Nucor Co. has a 1 year low of $46.10 and a 1 year high of $66.03. The company has a market cap of $16.37 billion, a PE ratio of 7.14, a price-to-earnings-growth ratio of 0.91 and a beta of 1.62.
Nucor (NYSE:NUE) last posted its earnings results on Thursday, July 18th. The basic materials company reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.01. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6 billion. During the same period last year, the firm posted $2.07 EPS. The firm’s revenue for the quarter was down 8.7% on a year-over-year basis. On average, research analysts expect that Nucor Co. will post 4.82 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, September 27th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, September 26th. This represents a $1.60 annualized dividend and a yield of 2.94%. Nucor’s dividend payout ratio (DPR) is currently 21.00%.
Nucor Company Profile
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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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