Bonness Enterprises Inc. raised its holdings in shares of Nucor Corporation (NYSE:NUE) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 48,350 shares of the basic materials company’s stock after purchasing an additional 3,000 shares during the quarter. Nucor Corporation accounts for 1.9% of Bonness Enterprises Inc.’s portfolio, making the stock its 17th largest position. Bonness Enterprises Inc.’s holdings in Nucor Corporation were worth $2,709,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Jennison Associates LLC grew its position in shares of Nucor Corporation by 1.4% in the 2nd quarter. Jennison Associates LLC now owns 7,140 shares of the basic materials company’s stock worth $413,000 after acquiring an additional 99 shares in the last quarter. Achmea Investment Management B.V. bought a new stake in Nucor Corporation during the 1st quarter valued at $4,047,000. CWA Asset Management Group LLC raised its stake in Nucor Corporation by 7.1% during the 2nd quarter. CWA Asset Management Group LLC now owns 35,994 shares of the basic materials company’s stock valued at $2,083,000 after acquiring an additional 2,380 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Nucor Corporation by 8.9% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 46,237 shares of the basic materials company’s stock worth $2,676,000 after buying an additional 3,792 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Nucor Corporation by 3.1% in the 2nd quarter. Swiss National Bank now owns 1,163,561 shares of the basic materials company’s stock worth $67,335,000 after buying an additional 35,100 shares in the last quarter. Institutional investors own 74.76% of the company’s stock.
In other news, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following the sale, the director now owns 33,573 shares in the company, valued at approximately $1,851,886.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman John J. Ferriola sold 15,131 shares of the firm’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $60.40, for a total transaction of $913,912.40. Following the sale, the chairman now owns 349,506 shares in the company, valued at approximately $21,110,162.40. The disclosure for this sale can be found here. Corporate insiders own 0.70% of the company’s stock.
NUE has been the topic of a number of research reports. Berenberg Bank reissued a “buy” rating and issued a $77.50 price objective on shares of Nucor Corporation in a research note on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and issued a $68.00 target price on shares of Nucor Corporation in a report on Wednesday, July 19th. Morgan Stanley restated a “buy” rating on shares of Nucor Corporation in a report on Tuesday, July 18th. Longbow Research restated a “buy” rating and issued a $66.00 target price on shares of Nucor Corporation in a report on Thursday, July 27th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $73.00 price target on shares of Nucor Corporation in a report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $67.32.
Nucor Corporation (NUE) traded down 0.0547% on Friday, hitting $59.6973. The stock had a trading volume of 750,188 shares. The company’s 50 day moving average is $55.99 and its 200-day moving average is $57.46. Nucor Corporation has a 1-year low of $46.61 and a 1-year high of $68.00. The firm has a market capitalization of $19.07 billion, a price-to-earnings ratio of 16.7595 and a beta of 1.54.
Nucor Corporation (NYSE:NUE) last released its earnings results 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 net margin of 5.80% and a return on equity of 12.77%. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the firm earned $0.88 EPS. The company’s revenue was up 20.5% compared to the same quarter last year. On average, analysts forecast that Nucor Corporation will post $3.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 9th. Investors of record on Friday, September 29th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, September 28th. Nucor Corporation’s payout ratio is currently 43.90%.
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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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