Robeco Institutional Asset Management B.V. increased its stake in Nucor Co. (NYSE:NUE) by 22.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 385,837 shares of the basic materials company’s stock after purchasing an additional 69,595 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.13% of Nucor worth $21,257,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in shares of Nucor by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,772,938 shares of the basic materials company’s stock worth $247,306,000 after buying an additional 82,259 shares during the last quarter. Geode Capital Management LLC raised its position in Nucor by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock valued at $258,607,000 after purchasing an additional 506,988 shares during the last quarter. Pinnacle Bank purchased a new stake in Nucor in the 4th quarter valued at $26,000. Tibra Equities Europe Ltd purchased a new stake in Nucor in the 1st quarter valued at $992,000. Finally, Biltmore Wealth Management LLC purchased a new stake in Nucor in the 1st quarter valued at $497,000. 76.30% of the stock is currently owned by hedge funds and other institutional investors.
NUE traded down $0.49 during trading on Friday, hitting $52.57. The stock had a trading volume of 1,805,592 shares, compared to its average volume of 2,182,242. The company has a quick ratio of 1.76, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $16.17 billion, a price-to-earnings ratio of 6.90, a P/E/G ratio of 0.91 and a beta of 1.61. The business has a 50-day moving average of $54.75. Nucor Co. has a twelve month low of $47.13 and a twelve month high of $66.03.
Nucor (NYSE:NUE) last announced its quarterly earnings data on Thursday, July 18th. The basic materials company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6 billion. Nucor had a net margin of 8.84% and a return on equity of 21.65%. Nucor’s revenue was down 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 EPS. As a group, analysts predict that Nucor Co. will post 4.89 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, June 28th will be paid a $0.40 dividend. The ex-dividend date is Thursday, June 27th. This represents a $1.60 annualized dividend and a yield of 3.04%. Nucor’s dividend payout ratio is currently 21.00%.
In other news, insider Ladd R. Hall sold 28,998 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $56.90, for a total transaction of $1,649,986.20. Following the transaction, the insider now directly owns 292,776 shares of the company’s stock, valued at approximately $16,658,954.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman John J. Ferriola sold 19,193 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $56.37, for a total transaction of $1,081,909.41. Following the transaction, the chairman now directly owns 475,921 shares in the company, valued at $26,827,666.77. The disclosure for this sale can be found here. Insiders sold a total of 61,203 shares of company stock worth $3,465,601 over the last three months. 0.96% of the stock is currently owned by corporate insiders.
Several analysts recently commented on NUE shares. KeyCorp reduced their price target on shares of Nucor from $66.00 to $61.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. ValuEngine downgraded shares of Nucor from a “hold” rating to a “sell” rating in a research report on Thursday. Goldman Sachs Group reduced their price target on shares of Nucor from $70.00 to $59.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Credit Suisse Group set a $61.00 price target on shares of Nucor and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, UBS Group set a $59.00 price target on shares of Nucor and gave the company a “hold” rating in a research report on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $62.90.
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; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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