Nucor Corporation (NUE) Stake Lessened by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Nucor Corporation (NYSE:NUE) by 6.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 491,292 shares of the basic materials company’s stock after selling 36,175 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of Nucor Corporation worth $27,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Nucor Corporation by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock worth $1,479,954,000 after buying an additional 319,596 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Nucor Corporation by 15.0% during the 2nd quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock worth $333,275,000 after buying an additional 750,796 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Nucor Corporation by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,471,347 shares of the basic materials company’s stock worth $258,776,000 after buying an additional 352,694 shares during the last quarter. Prudential PLC increased its holdings in shares of Nucor Corporation by 28.2% during the 2nd quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock worth $130,804,000 after buying an additional 496,700 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Nucor Corporation by 3.7% during the 3rd quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock worth $109,897,000 after buying an additional 70,358 shares during the last quarter. Institutional investors and hedge funds own 74.92% of the company’s stock.

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Nucor Corporation (NYSE NUE) opened at $54.80 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12. Nucor Corporation has a 1 year low of $51.67 and a 1 year high of $68.00. The company has a market cap of $17,420.00, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 1.23 and a beta of 1.59.

Nucor Corporation (NYSE:NUE) last issued its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Nucor Corporation had a net margin of 5.80% and a return on equity of 12.78%. The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the company posted $0.88 EPS. The firm’s revenue was up 20.5% compared to the same quarter last year. equities research analysts forecast that Nucor Corporation will post 3.7 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Friday, September 29th were given a dividend of $0.3775 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.51 annualized dividend and a dividend yield of 2.76%. Nucor Corporation’s dividend payout ratio (DPR) is currently 42.06%.

A number of research firms recently weighed in on NUE. Zacks Investment Research raised shares of Nucor Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. BMO Capital Markets set a $62.00 price objective on shares of Nucor Corporation and gave the stock a “hold” rating in a research report on Friday. Longbow Research reaffirmed a “buy” rating and set a $66.00 price objective on shares of Nucor Corporation in a research report on Thursday, July 27th. Credit Suisse Group lowered their price objective on shares of Nucor Corporation from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Thursday, September 28th. Finally, Bank of America Corporation lowered their price objective on shares of Nucor Corporation from $73.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $67.32.

In other news, insider D. Chad Utermark sold 9,003 shares of Nucor Corporation stock in a transaction on Friday, October 27th. The shares were sold at an average price of $59.72, for a total transaction of $537,659.16. Following the completion of the sale, the insider now directly owns 73,883 shares of the company’s stock, valued at approximately $4,412,292.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Ladd R. Hall sold 17,583 shares of Nucor Corporation stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the sale, the insider now directly owns 206,406 shares of the company’s stock, valued at $11,959,163.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,217 shares of company stock valued at $2,608,231. Corporate insiders own 0.70% of the company’s stock.

Nucor Corporation Company 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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Institutional Ownership by Quarter for Nucor Corporation (NYSE:NUE)

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