Rampart Investment Management Company LLC lessened its stake in shares of Nucor Co. (NYSE:NUE) by 8.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,824 shares of the basic materials company’s stock after selling 11,145 shares during the quarter. Nucor comprises approximately 0.8% of Rampart Investment Management Company LLC’s portfolio, making the stock its 26th biggest position. Rampart Investment Management Company LLC’s holdings in Nucor were worth $7,927,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. HL Financial Services LLC grew its holdings in Nucor by 10.9% during the first quarter. HL Financial Services LLC now owns 12,994 shares of the basic materials company’s stock worth $794,000 after acquiring an additional 1,282 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in Nucor by 45.2% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 21,052 shares of the basic materials company’s stock worth $1,286,000 after acquiring an additional 6,551 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Nucor by 1.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 915,674 shares of the basic materials company’s stock worth $55,939,000 after acquiring an additional 8,677 shares during the period. Zeke Capital Advisors LLC acquired a new position in Nucor during the first quarter worth $623,000. Finally, Mackay Shields LLC acquired a new position in Nucor during the first quarter worth $3,269,000. Institutional investors and hedge funds own 77.34% of the company’s stock.
A number of brokerages recently weighed in on NUE. ValuEngine lowered Nucor from a “hold” rating to a “sell” rating in a report on Tuesday. Zacks Investment Research raised Nucor from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Thursday, July 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of Nucor in a report on Friday, July 13th. Macquarie raised Nucor from a “neutral” rating to an “outperform” rating and set a $75.00 price objective on the stock in a report on Thursday, May 17th. Finally, KeyCorp raised Nucor from a “sector weight” rating to an “overweight” rating and set a $77.00 target price on the stock in a report on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Nucor has a consensus rating of “Buy” and an average price target of $71.16.
Shares of NYSE NUE opened at $62.43 on Wednesday. Nucor Co. has a fifty-two week low of $51.67 and a fifty-two week high of $70.48. The company has a quick ratio of 1.55, a current ratio of 3.05 and a debt-to-equity ratio of 0.43. The company has a market cap of $19.77 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 0.69 and a beta of 1.54.
Nucor (NYSE:NUE) last issued its quarterly earnings data on Thursday, July 19th. The basic materials company reported $2.07 earnings per share for the quarter, missing analysts’ consensus estimates of $2.10 by ($0.03). Nucor had a net margin of 7.58% and a return on equity of 16.22%. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.47 billion. During the same quarter last year, the business earned $1.00 EPS. Nucor’s revenue for the quarter was up 24.9% compared to the same quarter last year. equities analysts expect that Nucor Co. will post 7.55 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 10th. Shareholders of record on Friday, June 29th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, June 28th. This represents a $1.52 dividend on an annualized basis and a yield of 2.43%. Nucor’s dividend payout ratio (DPR) is presently 43.30%.
In other news, insider Leon J. Topalian sold 3,115 shares of Nucor stock in a transaction that occurred on Thursday, June 21st. The stock was sold at an average price of $64.98, for a total value of $202,412.70. Following the completion of the transaction, the insider now owns 43,370 shares in the company, valued at approximately $2,818,182.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David A. Sumoski sold 51,238 shares of Nucor stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $66.65, for a total value of $3,415,012.70. Following the completion of the transaction, the insider now owns 139,839 shares of the company’s stock, valued at approximately $9,320,269.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,443 shares of company stock valued at $8,277,404. 0.80% of the stock is owned by insiders.
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; 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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