Focused Wealth Management Inc grew its holdings in Nucor Co. (NYSE:NUE) by 49.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,265 shares of the basic materials company’s stock after acquiring an additional 4,404 shares during the period. Focused Wealth Management Inc’s holdings in Nucor were worth $675,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of NUE. Marshall Wace North America L.P. acquired a new position in shares of Nucor during the 1st quarter worth approximately $54,000. FMR LLC boosted its holdings in shares of Nucor by 123.0% during the 1st quarter. FMR LLC now owns 674,154 shares of the basic materials company’s stock worth $39,337,000 after purchasing an additional 371,876 shares during the last quarter. Park National Corp OH boosted its holdings in shares of Nucor by 36.9% during the 2nd quarter. Park National Corp OH now owns 92,767 shares of the basic materials company’s stock worth $5,111,000 after purchasing an additional 25,022 shares during the last quarter. KAMES CAPITAL plc boosted its holdings in shares of Nucor by 1.4% during the 2nd quarter. KAMES CAPITAL plc now owns 156,727 shares of the basic materials company’s stock worth $8,634,000 after purchasing an additional 2,178 shares during the last quarter. Finally, Empirical Finance LLC boosted its holdings in shares of Nucor by 1.0% during the 2nd quarter. Empirical Finance LLC now owns 22,451 shares of the basic materials company’s stock worth $1,237,000 after purchasing an additional 227 shares during the last quarter. 77.56% of the stock is owned by institutional investors.
NUE traded down $0.16 during trading hours on Tuesday, reaching $55.30. The company’s stock had a trading volume of 1,591,192 shares, compared to its average volume of 2,317,798. Nucor Co. has a fifty-two week low of $46.10 and a fifty-two week high of $64.11. The stock has a market cap of $16.85 billion, a PE ratio of 7.26, a P/E/G ratio of 1.06 and a beta of 1.65. The business’s 50-day moving average is $52.44 and its 200-day moving average is $52.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.36 and a quick ratio of 1.78.
Nucor (NYSE:NUE) last released its quarterly earnings data on Tuesday, October 22nd. The basic materials company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Nucor had a return on equity of 16.90% and a net margin of 7.62%. The firm had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the firm posted $2.33 earnings per share. The firm’s quarterly revenue was down 19.0% on a year-over-year basis. Analysts expect that Nucor Co. will post 4.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 8th. Investors of record on Friday, September 27th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend was Thursday, September 26th. Nucor’s dividend payout ratio is presently 21.00%.
In other Nucor news, EVP Raymond S. Napolitan, Jr. sold 8,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $52.67, for a total transaction of $421,360.00. Following the transaction, the executive vice president now directly owns 142,393 shares in the company, valued at $7,499,839.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John J. Ferriola sold 3,203 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $54.00, for a total value of $172,962.00. Following the transaction, the chief executive officer now owns 453,954 shares in the company, valued at $24,513,516. The disclosure for this sale can be found here. Corporate insiders own 0.96% of the company’s stock.
Several brokerages have recently weighed in on NUE. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. KeyCorp lowered their target price on Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, August 27th. Credit Suisse Group set a $61.00 target price on Nucor and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Bank of America lowered their target price on Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $58.14.
Nucor Company Profile
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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