AMP Capital Investors Ltd grew its stake in shares of Nucor Co. (NYSE:NUE) by 28.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 193,659 shares of the basic materials company’s stock after acquiring an additional 42,987 shares during the period. AMP Capital Investors Ltd owned 0.06% of Nucor worth $10,854,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Nucor by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 25,573,754 shares of the basic materials company’s stock valued at $1,479,954,000 after acquiring an additional 319,596 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Nucor by 15.0% during the 2nd quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after acquiring an additional 750,796 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Nucor by 3.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,621,566 shares of the basic materials company’s stock valued at $258,974,000 after acquiring an additional 150,219 shares in the last quarter. Prudential PLC grew its holdings in shares of Nucor by 28.2% during the 2nd quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock valued at $130,804,000 after acquiring an additional 496,700 shares in the last quarter. Finally, Boston Partners grew its holdings in shares of Nucor by 3.7% during the 3rd quarter. Boston Partners now owns 1,961,046 shares of the basic materials company’s stock valued at $109,897,000 after acquiring an additional 70,358 shares in the last quarter. Institutional investors and hedge funds own 74.55% of the company’s stock.
Several research firms recently issued reports on NUE. ValuEngine raised shares of Nucor from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. BMO Capital Markets set a $62.00 price objective on shares of Nucor and gave the company a “hold” rating in a research note on Friday, November 17th. Zacks Investment Research raised shares of Nucor from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Cowen lifted their price objective on shares of Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. Finally, Bank of America reduced their price objective on shares of Nucor from $73.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. Nucor currently has an average rating of “Buy” and a consensus target price of $67.32.
Nucor Co. (NUE) traded up $1.58 during trading on Monday, reaching $60.17. 5,874,700 shares of the company’s stock were exchanged, compared to its average volume of 2,690,154. The firm has a market cap of $19,330.00, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 1.36 and a beta of 1.58. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. Nucor Co. has a 52-week low of $51.67 and a 52-week high of $66.37.
Nucor (NYSE:NUE) last released its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.19 billion. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The business’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. analysts forecast that Nucor Co. will post 3.69 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be given a dividend of $0.38 per share. This is a positive change from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.53%. Nucor’s payout ratio is currently 42.06%.
In other news, insider D. Chad Utermark sold 9,003 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 73,883 shares of the company’s stock, valued at $4,412,292.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman John J. Ferriola sold 15,131 shares of the company’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $60.40, for a total transaction of $913,912.40. Following the transaction, the chairman now directly owns 349,506 shares of the company’s stock, valued at approximately $21,110,162.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,217 shares of company stock valued at $2,608,231. Company insiders own 0.70% of the company’s stock.
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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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