Beacon Investment Advisory Services Inc. acquired a new position in shares of Nucor Co. (NYSE:NUE) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,810 shares of the basic materials company’s stock, valued at approximately $326,000.
Several other large investors have also added to or reduced their stakes in the company. Global X Management Co. LLC boosted its position in shares of Nucor by 67.1% in the 2nd quarter. Global X Management Co. LLC now owns 9,989 shares of the basic materials company’s stock valued at $578,000 after purchasing an additional 4,012 shares during the period. Trexquant Investment LP acquired a new stake in shares of Nucor in the 2nd quarter valued at about $305,000. Schwab Charles Investment Management Inc. boosted its position in shares of Nucor by 4.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,151,599 shares of the basic materials company’s stock valued at $66,644,000 after purchasing an additional 48,821 shares during the period. First Trust Advisors LP boosted its position in shares of Nucor by 139.5% in the 2nd quarter. First Trust Advisors LP now owns 263,607 shares of the basic materials company’s stock valued at $15,255,000 after purchasing an additional 153,556 shares during the period. Finally, Sigma Planning Corp boosted its position in shares of Nucor by 1.4% in the 2nd quarter. Sigma Planning Corp now owns 4,647 shares of the basic materials company’s stock valued at $269,000 after purchasing an additional 62 shares during the period. 74.55% of the stock is owned by institutional investors and hedge funds.
NUE has been the subject of a number of research analyst reports. Macquarie initiated coverage on Nucor in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $57.00 target price for the company. ValuEngine cut Nucor from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Jefferies Group set a $68.00 target price on Nucor and gave the company a “buy” rating in a research report on Monday, August 21st. Credit Suisse Group upped their target price on Nucor from $63.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, October 20th. Finally, Cowen upped their price objective on Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a research note on Monday, October 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have assigned a buy rating to the stock. Nucor presently has an average rating of “Buy” and a consensus price target of $66.80.
In other news, Director Victoria F. Haynes sold 2,500 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ladd R. Hall sold 17,583 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $57.94, for a total value of $1,018,759.02. Following the transaction, 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 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.
Nucor Co. (NYSE NUE) traded down $0.10 on Thursday, reaching $61.85. The company’s stock had a trading volume of 2,951,100 shares, compared to its average volume of 2,711,318. The company has a current ratio of 2.11, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. The stock has a market cap of $19,370.00, a P/E ratio of 18.22, a PEG ratio of 1.40 and a beta of 1.58. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $66.00.
Nucor (NYSE:NUE) last posted its quarterly earnings data 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. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.19 billion. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The firm’s revenue was up 20.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. analysts predict that Nucor Co. will post 3.69 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 28th. Nucor’s dividend payout ratio is 42.06%.
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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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