Natixis Advisors L.P. lifted its holdings in shares of Nucor Co. (NYSE:NUE) by 0.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,225 shares of the basic materials company’s stock after buying an additional 339 shares during the period. Natixis Advisors L.P.’s holdings in Nucor were worth $6,955,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in Nucor by 1.3% during the 1st quarter. Northern Trust Corp now owns 5,538,288 shares of the basic materials company’s stock valued at $323,158,000 after acquiring an additional 72,896 shares during the period. Geode Capital Management LLC grew its stake in shares of Nucor by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 4,998,590 shares of the basic materials company’s stock worth $258,607,000 after acquiring an additional 506,988 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Nucor by 3.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,472,281 shares of the basic materials company’s stock valued at $81,123,000 after purchasing an additional 48,508 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Nucor by 12.0% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,377,402 shares of the basic materials company’s stock valued at $80,371,000 after purchasing an additional 148,039 shares during the last quarter. Finally, PGGM Investments lifted its position in Nucor by 5.1% during the second quarter. PGGM Investments now owns 1,092,957 shares of the basic materials company’s stock valued at $60,222,000 after purchasing an additional 53,145 shares during the period. 77.35% of the stock is currently owned by institutional investors.
NUE stock traded up $0.20 during midday trading on Wednesday, reaching $52.83. 57,877 shares of the company’s stock traded hands, compared to its average volume of 1,688,744. The company has a current ratio of 3.56, a quick ratio of 1.76 and a debt-to-equity ratio of 0.40. Nucor Co. has a 52-week low of $46.10 and a 52-week high of $66.03. The stock has a market cap of $15.53 billion, a P/E ratio of 6.94, a PEG ratio of 0.89 and a beta of 1.62. The stock’s 50-day moving average is $50.86 and its 200 day moving average is $54.69.
Nucor (NYSE:NUE) last issued its quarterly earnings results on Thursday, July 18th. The basic materials company reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.01. Nucor had a net margin of 8.84% and a return on equity of 21.65%. The business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same quarter last year, the company posted $2.07 EPS. The company’s revenue was down 8.7% compared to the same quarter last year. As a group, research analysts expect that Nucor Co. will post 4.82 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, September 27th will be issued a $0.40 dividend. The ex-dividend date is Thursday, September 26th. This represents a $1.60 dividend on an annualized basis and a yield of 3.03%. Nucor’s dividend payout ratio is currently 21.00%.
In other Nucor news, Chairman John J. Ferriola sold 19,193 shares of Nucor stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $56.37, for a total transaction of $1,081,909.41. Following the transaction, the chairman now owns 475,921 shares of the company’s stock, valued at $26,827,666.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ladd R. Hall sold 28,998 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $56.90, for a total transaction of $1,649,986.20. Following the completion of the transaction, the insider now owns 292,776 shares of the company’s stock, valued at $16,658,954.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,203 shares of company stock valued at $3,465,601. Company insiders own 0.96% of the company’s stock.
NUE has been the topic of several research reports. Bank of America dropped their target price on shares of Nucor from $50.00 to $46.00 and set an “underperform” rating on the stock in a report on Wednesday, September 4th. Credit Suisse Group set a $61.00 target price on shares of Nucor and gave the company a “buy” rating in a research note on Friday, July 19th. Goldman Sachs Group lowered their price target on Nucor from $70.00 to $59.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. KeyCorp dropped their price target on Nucor from $61.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Finally, Citigroup set a $60.00 price objective on Nucor and gave the stock a “buy” rating in a report on Tuesday, June 11th. Three 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. Nucor has a consensus rating of “Hold” and a consensus target price of $62.40.
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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