ING Groep NV increased its holdings in shares of Nucor Co. (NYSE:NUE) by 66.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,605 shares of the basic materials company’s stock after purchasing an additional 11,014 shares during the quarter. ING Groep NV’s holdings in Nucor were worth $1,547,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware bought a new stake in shares of Nucor during the 2nd quarter worth approximately $100,000. Krilogy Financial LLC raised its position in Nucor by 4,594.6% during the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 1,700 shares in the last quarter. Fiduciary Trust Co. bought a new stake in Nucor during the 2nd quarter valued at $109,000. Sun Life Financial INC raised its position in Nucor by 23,290.0% during the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its holdings in shares of Nucor by 791.0% in the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 2,373 shares during the period. Institutional investors and hedge funds own 74.55% of the company’s stock.
Shares of Nucor Co. (NYSE:NUE) traded up $1.52 during trading on Tuesday, reaching $58.82. The company had a trading volume of 3,643,600 shares, compared to its average volume of 2,678,714. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37. Nucor Co. has a 52 week low of $51.67 and a 52 week high of $68.00. The stock has a market capitalization of $18,216.63, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 1.29 and a beta of 1.58.
Nucor (NYSE:NUE) last released its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The company had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. The firm’s revenue was up 20.5% compared to the same quarter last year. equities research analysts predict that Nucor Co. will post 3.69 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be paid a $0.38 dividend. This is a boost from Nucor’s previous quarterly dividend of $0.38. This represents a $1.52 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Thursday, December 28th. Nucor’s dividend payout ratio (DPR) is presently 43.90%.
In other Nucor news, Director Victoria F. Haynes sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total transaction of $137,900.00. Following the transaction, the director now owns 33,573 shares of the company’s stock, valued at $1,851,886.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider D. Chad Utermark sold 9,003 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $59.72, for a total value of $537,659.16. Following the transaction, the insider now directly owns 73,883 shares in the company, valued at approximately $4,412,292.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,217 shares of company stock worth $2,608,231. Insiders own 0.70% of the company’s stock.
Several research analysts recently weighed in on NUE shares. Credit Suisse Group dropped their target price on Nucor from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, September 28th. Jefferies Group set a $68.00 price target on Nucor and gave the company a “buy” rating in a research note on Monday, August 21st. Bank of America reiterated a “buy” rating and set a $73.00 price target on shares of Nucor in a research note on Wednesday, September 6th. Citigroup raised Nucor from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $53.60 to $65.00 in a report on Thursday, September 14th. Finally, ValuEngine raised Nucor from a “hold” rating to a “buy” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. Nucor presently has a consensus rating of “Buy” and a consensus target price of $67.32.
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Nucor 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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