Janus Henderson Group PLC Trims Holdings in Nucor Co. (NYSE:NUE)

Janus Henderson Group PLC lessened its holdings in Nucor Co. (NYSE:NUE) by 53.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,203 shares of the basic materials company’s stock after selling 114,433 shares during the quarter. Janus Henderson Group PLC’s holdings in Nucor were worth $5,559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Chevy Chase Trust Holdings Inc. raised its position in Nucor by 1.2% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 363,897 shares of the basic materials company’s stock worth $20,392,000 after purchasing an additional 4,192 shares during the period. First Allied Advisory Services Inc. raised its position in Nucor by 5.7% in the 3rd quarter. First Allied Advisory Services Inc. now owns 18,063 shares of the basic materials company’s stock worth $1,010,000 after purchasing an additional 970 shares during the period. Wimmer Associates 1 LLC purchased a new position in shares of Nucor in the third quarter valued at about $1,323,000. Magnetar Financial LLC increased its position in shares of Nucor by 31.3% in the third quarter. Magnetar Financial LLC now owns 12,309 shares of the basic materials company’s stock valued at $690,000 after acquiring an additional 2,931 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Nucor by 2.6% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 274,439 shares of the basic materials company’s stock valued at $15,380,000 after acquiring an additional 6,996 shares during the period. Institutional investors own 74.31% of the company’s stock.

A number of equities analysts have issued reports on the stock. Bank of America set a $75.00 price objective on shares of Nucor and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research upgraded shares of Nucor from a “sell” rating to a “hold” rating and set a $76.00 price objective on the stock in a research report on Monday. Jefferies Group restated a “buy” rating and issued a $77.00 price objective on shares of Nucor in a research report on Tuesday. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a research report on Sunday, December 31st. Finally, Longbow Research upgraded shares of Nucor from a “neutral” rating to a “buy” rating in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. Nucor has a consensus rating of “Buy” and a consensus price target of $68.37.

In related news, insider Ladd R. Hall sold 17,583 shares of the stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $57.94, for a total transaction of $1,018,759.02. Following the transaction, the insider now owns 206,406 shares in the company, valued at $11,959,163.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider D. Chad Utermark sold 9,003 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 73,883 shares in the company, valued at approximately $4,412,292.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,754 shares of company stock worth $4,964,014. Insiders own 0.70% of the company’s stock.

Nucor Co. (NYSE NUE) opened at $70.18 on Friday. The stock has a market cap of $22,310.00, a P/E ratio of 19.55, a PEG ratio of 1.29 and a beta of 1.58. Nucor Co. has a 52 week low of $51.67 and a 52 week high of $70.18. 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 (NYSE:NUE) last issued its earnings results on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate 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 prior year, the firm posted $0.88 earnings per share. research analysts forecast that Nucor Co. will post 3.61 EPS for the current year.

The company 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 $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio is currently 42.34%.

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Nucor 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).

Institutional Ownership by Quarter for Nucor (NYSE:NUE)

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