Raymond James & Associates decreased its stake in shares of Nucor Co. (NYSE:NUE) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 503,140 shares of the basic materials company’s stock after selling 9,615 shares during the period. Raymond James & Associates owned about 0.16% of Nucor worth $31,990,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Luminus Management LLC increased its stake in shares of Nucor by 303.4% in the fourth quarter. Luminus Management LLC now owns 1,654,324 shares of the basic materials company’s stock worth $105,182,000 after purchasing an additional 1,244,185 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of Nucor by 7.3% in the 4th quarter. California State Teachers Retirement System now owns 594,568 shares of the basic materials company’s stock worth $37,803,000 after buying an additional 40,531 shares in the last quarter. Marathon Trading Investment Management LLC purchased a new position in shares of Nucor in the 4th quarter worth $375,000. Stone Ridge Asset Management LLC purchased a new position in shares of Nucor in the 4th quarter worth $1,115,000. Finally, Encompass Capital Advisors LLC purchased a new position in shares of Nucor in the 4th quarter worth $12,398,000. Institutional investors own 80.08% of the company’s stock.
NYSE:NUE traded down $2.41 during trading hours on Friday, hitting $60.69. 1,899,102 shares of the company were exchanged, compared to its average volume of 2,382,658. 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 Co. has a 52-week low of $51.67 and a 52-week high of $70.48. The company has a market cap of $20,061.81, a PE ratio of 17.29, a P/E/G ratio of 0.99 and a beta of 1.54.
Nucor (NYSE:NUE) last announced its quarterly earnings data on Tuesday, January 30th. The basic materials company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.55 by $0.10. Nucor had a net margin of 6.58% and a return on equity of 13.03%. The business had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period in the previous year, the business posted $0.50 EPS. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. analysts expect that Nucor Co. will post 5.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Investors of record on Thursday, March 29th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Wednesday, March 28th. Nucor’s dividend payout ratio is currently 43.30%.
In other Nucor news, Director Victoria F. Haynes sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $69.12, for a total transaction of $207,360.00. Following the completion of the transaction, the director now directly owns 30,573 shares in the company, valued at $2,113,205.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO James D. Frias sold 39,037 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $68.31, for a total transaction of $2,666,617.47. Following the transaction, the chief financial officer now owns 177,204 shares of the company’s stock, valued at $12,104,805.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,350 shares of company stock valued at $4,312,607. Company insiders own 0.70% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. Bank of America set a $75.00 target price on shares of Nucor and gave the stock a “buy” rating in a report on Monday, January 8th. Jefferies Group restated a “buy” rating and issued a $77.00 target price on shares of Nucor in a report on Tuesday, January 9th. Zacks Investment Research upgraded shares of Nucor from a “sell” rating to a “hold” rating and set a $76.00 price objective for the company in a report on Monday, January 8th. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Credit Suisse Group boosted their price target on shares of Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $69.54.
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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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