Carroll Financial Associates Inc. cut its position in shares of Nucor Co. (NYSE:NUE) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,495 shares of the basic materials company’s stock after selling 1,514 shares during the period. Carroll Financial Associates Inc.’s holdings in Nucor were worth $1,557,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in 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 buying an additional 319,596 shares in the last quarter. Northern Trust Corp lifted its holdings in 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 buying an additional 750,796 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 buying an additional 150,219 shares in the last quarter. Prudential PLC lifted its holdings in 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 buying an additional 496,700 shares in the last quarter. Finally, Boston Partners lifted its holdings in 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 buying an additional 70,358 shares in the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.
Nucor Co. (NYSE NUE) traded up $0.31 during trading hours on Thursday, hitting $69.26. 1,952,100 shares of the stock traded hands, compared to its average volume of 2,962,000. Nucor Co. has a twelve month low of $51.67 and a twelve month high of $70.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. The company has a market cap of $21,930.00, a price-to-earnings ratio of 19.29, a P/E/G ratio of 1.21 and a beta of 1.58.
Nucor (NYSE:NUE) last posted its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same quarter in the previous year, the business posted $0.88 EPS. The company’s quarterly revenue was up 20.5% compared to the same quarter last year. sell-side analysts expect that Nucor Co. will post 3.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.52 annualized dividend and a dividend yield of 2.19%. This is a positive change from Nucor’s previous quarterly dividend of $0.38. Nucor’s payout ratio is currently 42.34%.
A number of brokerages recently weighed in on NUE. Credit Suisse Group decreased their price objective on shares of Nucor from $68.00 to $63.00 and set a “buy” rating for the company in a report on Thursday, September 28th. Jefferies Group reiterated a “buy” rating and set a $77.00 price objective on shares of Nucor in a report on Tuesday, January 9th. Bank of America decreased their price objective on shares of Nucor from $73.00 to $71.00 and set a “buy” rating for the company in a report on Friday, October 20th. Longbow Research lowered shares of Nucor from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $55.01 to $56.04 in a report on Monday, October 2nd. Finally, Zacks Investment Research lowered shares of Nucor from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Nucor presently has a consensus rating of “Buy” and an average target price of $68.37.
In related news, EVP Robert J. Stratman sold 39,037 shares of the business’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the completion of the transaction, the executive vice president now owns 233,824 shares in the company, valued at approximately $14,936,677.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman John J. Ferriola sold 15,131 shares of the business’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $60.40, for a total transaction of $913,912.40. Following the transaction, the chairman now 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 90 days, insiders sold 80,754 shares of company stock valued at $4,964,014. 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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