First Personal Financial Services lifted its position in Nucor Co. (NYSE:NUE) by 5.5% in the third quarter, HoldingsChannel reports. The firm owned 72,965 shares of the basic materials company’s stock after purchasing an additional 3,831 shares during the quarter. Nucor comprises about 1.5% of First Personal Financial Services’ investment portfolio, making the stock its 22nd biggest holding. First Personal Financial Services’ holdings in Nucor were worth $4,630,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Advisor Partners LLC grew its stake in Nucor by 15.5% during the second quarter. Advisor Partners LLC now owns 5,514 shares of the basic materials company’s stock valued at $345,000 after acquiring an additional 742 shares in the last quarter. UMB Bank N A MO lifted its position in Nucor by 2.4% during the second quarter. UMB Bank N A MO now owns 32,781 shares of the basic materials company’s stock valued at $2,049,000 after purchasing an additional 765 shares during the last quarter. Rothschild Investment Corp IL lifted its position in Nucor by 0.6% during the second quarter. Rothschild Investment Corp IL now owns 137,745 shares of the basic materials company’s stock valued at $8,609,000 after purchasing an additional 800 shares during the last quarter. Willingdon Wealth Management lifted its position in Nucor by 2.6% during the second quarter. Willingdon Wealth Management now owns 31,266 shares of the basic materials company’s stock valued at $1,954,000 after purchasing an additional 802 shares during the last quarter. Finally, Hills Bank & Trust Co. lifted its position in Nucor by 4.8% during the second quarter. Hills Bank & Trust Co. now owns 19,319 shares of the basic materials company’s stock valued at $1,207,000 after purchasing an additional 892 shares during the last quarter. 77.42% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have commented on NUE shares. Zacks Investment Research lowered shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Deutsche Bank lowered shares of Nucor to a “buy” rating in a research report on Tuesday, October 2nd. Argus reiterated a “buy” rating on shares of Nucor in a research report on Tuesday, October 23rd. ValuEngine lowered shares of Nucor from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, Seaport Global Securities began coverage on shares of Nucor in a research report on Thursday, October 11th. They set a “buy” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. Nucor presently has a consensus rating of “Buy” and an average price target of $73.58.
Shares of Nucor stock traded up $0.21 during trading on Friday, hitting $60.22. The stock had a trading volume of 14,331 shares, compared to its average volume of 3,090,748. The firm has a market capitalization of $18.32 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 0.63 and a beta of 1.51. The company has a current ratio of 3.15, a quick ratio of 1.69 and a debt-to-equity ratio of 0.42. Nucor Co. has a 12 month low of $53.71 and a 12 month high of $70.48.
Nucor (NYSE:NUE) last released its earnings results on Thursday, October 18th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.35 by ($0.02). The firm had revenue of $6.74 billion during the quarter, compared to the consensus estimate of $6.64 billion. Nucor had a return on equity of 20.72% and a net margin of 8.79%. Nucor’s revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. As a group, sell-side analysts predict that Nucor Co. will post 7.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 9th. Stockholders of record on Friday, September 28th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.52 annualized dividend and a dividend yield of 2.52%. Nucor’s dividend payout ratio (DPR) is presently 43.30%.
Nucor announced that its board has initiated a stock buyback program on Thursday, September 6th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the basic materials company to buy up to 10% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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