Macquarie Group Ltd. trimmed its holdings in Nucor Corporation (NYSE:NUE) by 36.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,350 shares of the basic materials company’s stock after selling 52,026 shares during the period. Macquarie Group Ltd.’s holdings in Nucor Corporation were worth $5,287,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accredited Investors Inc. boosted its position in Nucor Corporation by 0.6% during the 2nd quarter. Accredited Investors Inc. now owns 3,917 shares of the basic materials company’s stock worth $227,000 after acquiring an additional 25 shares during the period. FineMark National Bank & Trust lifted its holdings in shares of Nucor Corporation by 0.3% in the second quarter. FineMark National Bank & Trust now owns 9,699 shares of the basic materials company’s stock valued at $561,000 after buying an additional 26 shares during the period. Cleararc Capital Inc. lifted its holdings in shares of Nucor Corporation by 0.5% in the first quarter. Cleararc Capital Inc. now owns 7,795 shares of the basic materials company’s stock valued at $466,000 after buying an additional 35 shares during the period. ING Groep NV lifted its holdings in shares of Nucor Corporation by 0.3% in the second quarter. ING Groep NV now owns 16,591 shares of the basic materials company’s stock valued at $960,000 after buying an additional 43 shares during the period. Finally, First Command Bank lifted its holdings in shares of Nucor Corporation by 1.5% in the second quarter. First Command Bank now owns 2,905 shares of the basic materials company’s stock valued at $169,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 74.76% of the company’s stock.
Several analysts have recently weighed in on the company. Cowen and Company upped their price objective on Nucor Corporation from $57.00 to $63.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. Bank of America Corporation reduced their target price on Nucor Corporation from $73.00 to $71.00 and set a “buy” rating for the company in a report on Friday, October 20th. Credit Suisse Group upped their target price on Nucor Corporation from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Citigroup Inc. set a $66.00 target price on Nucor Corporation and gave the company a “buy” rating in a report on Friday, October 20th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Nucor Corporation in a report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the stock. Nucor Corporation currently has a consensus rating of “Hold” and a consensus price target of $67.32.
In other Nucor Corporation news, Chairman John J. Ferriola sold 15,131 shares of the business’s stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $60.40, for a total value of $913,912.40. Following the completion of the sale, the chairman now directly owns 349,506 shares of the company’s stock, valued at $21,110,162.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the sale, the director now directly owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
Shares of Nucor Corporation (NUE) traded down 0.40% on Friday, hitting $59.49. The stock had a trading volume of 2,455,723 shares. Nucor Corporation has a one year low of $46.61 and a one year high of $68.00. The firm’s 50 day moving average is $55.99 and its 200-day moving average is $57.46. The stock has a market capitalization of $19.00 billion, a PE ratio of 16.70 and a beta of 1.54.
Nucor Corporation (NYSE:NUE) last posted its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.77%. The company had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the previous year, the firm posted $0.88 EPS. The firm’s revenue was up 20.5% compared to the same quarter last year. Equities research analysts expect that Nucor Corporation will post $3.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Thursday, September 28th. Nucor Corporation’s dividend 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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