Beech Hill Advisors Inc. lifted its position in shares of Nucor Co. (NYSE:NUE) by 47.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,615 shares of the basic materials company’s stock after purchasing an additional 26,900 shares during the quarter. Nucor accounts for 2.6% of Beech Hill Advisors Inc.’s investment portfolio, making the stock its 10th largest holding. Beech Hill Advisors Inc.’s holdings in Nucor were worth $5,316,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of NUE. Security National Bank of Sioux City Iowa IA grew its stake in Nucor by 0.4% in the 2nd quarter. Security National Bank of Sioux City Iowa IA now owns 21,597 shares of the basic materials company’s stock valued at $1,249,000 after purchasing an additional 77 shares during the period. Hillsdale Investment Management Inc. grew its stake in shares of Nucor by 2.4% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 5,530 shares of the basic materials company’s stock worth $320,000 after acquiring an additional 130 shares during the period. Veritable L.P. grew its stake in shares of Nucor by 2.0% during the 2nd quarter. Veritable L.P. now owns 9,600 shares of the basic materials company’s stock worth $556,000 after acquiring an additional 191 shares during the period. Thrivent Financial For Lutherans grew its stake in shares of Nucor by 1.6% during the 2nd quarter. Thrivent Financial For Lutherans now owns 12,170 shares of the basic materials company’s stock worth $704,000 after acquiring an additional 195 shares during the period. Finally, Sentry Investment Management LLC grew its stake in shares of Nucor by 1.3% during the 2nd quarter. Sentry Investment Management LLC now owns 20,879 shares of the basic materials company’s stock worth $1,208,000 after acquiring an additional 260 shares during the period. 74.10% of the stock is currently owned by institutional investors.
Nucor Co. (NUE) traded up $1.11 during trading hours on Wednesday, hitting $65.19. The company’s stock had a trading volume of 3,075,867 shares, compared to its average volume of 3,230,000. Nucor Co. has a 1 year low of $51.67 and a 1 year high of $70.48. The stock has a market cap of $20,720.00, a PE ratio of 15.90, a P/E/G ratio of 1.07 and a beta of 1.56. The company has a current ratio of 2.42, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.
Nucor (NYSE:NUE) last released its quarterly earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.10. The firm had revenue of $5.09 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The company’s revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. equities analysts expect that Nucor Co. will post 4.92 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 9th. Investors of record on Friday, December 29th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, December 28th. Nucor’s dividend payout ratio (DPR) is currently 37.07%.
In related news, EVP Robert J. Stratman sold 39,037 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $63.88, for a total transaction of $2,493,683.56. Following the transaction, the executive vice president now directly owns 233,824 shares in the company, valued at approximately $14,936,677.12. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman John J. Ferriola sold 14,313 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total value of $917,749.56. Following the transaction, the chairman now owns 333,775 shares in the company, valued at $21,401,653. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
NUE has been the subject of several research reports. ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research downgraded Nucor from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Credit Suisse Group increased their price target on Nucor from $63.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, October 20th. Jefferies Group reiterated a “buy” rating and set a $76.00 price target on shares of Nucor in a research note on Wednesday, January 31st. Finally, Cowen increased their price objective on Nucor from $57.00 to $63.00 and gave the stock a “market perform” rating in a report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $69.70.
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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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