Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Nucor Co. (NYSE:NUE – Get Rating) by 2.0% in the second quarter, HoldingsChannel.com reports. The fund owned 18,624 shares of the basic materials company’s stock after acquiring an additional 371 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Nucor were worth $1,945,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Nucor by 4.0% during the 1st quarter. BlackRock Inc. now owns 23,345,048 shares of the basic materials company’s stock worth $3,470,242,000 after acquiring an additional 897,135 shares during the last quarter. State Street Corp lifted its holdings in shares of Nucor by 2.4% during the 1st quarter. State Street Corp now owns 15,803,098 shares of the basic materials company’s stock worth $2,356,620,000 after acquiring an additional 377,102 shares during the last quarter. Norges Bank purchased a new position in Nucor in the 4th quarter worth $683,804,000. Dimensional Fund Advisors LP raised its position in Nucor by 9.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,782,243 shares of the basic materials company’s stock worth $710,909,000 after purchasing an additional 406,834 shares during the period. Finally, CFS Investment Advisory Services LLC raised its position in Nucor by 14,509.4% in the 1st quarter. CFS Investment Advisory Services LLC now owns 4,061,713 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 4,033,911 shares during the period. 79.07% of the stock is owned by institutional investors.
Insider Activity at Nucor
In related news, EVP Allen C. Behr sold 3,407 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $122.17, for a total transaction of $416,233.19. Following the transaction, the executive vice president now owns 64,087 shares in the company, valued at $7,829,508.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Kenneth Rex Query sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $141.64, for a total transaction of $708,200.00. Following the transaction, the executive vice president now owns 76,100 shares in the company, valued at $10,778,804. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Allen C. Behr sold 3,407 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $122.17, for a total transaction of $416,233.19. Following the transaction, the executive vice president now owns 64,087 shares in the company, valued at approximately $7,829,508.79. The disclosure for this sale can be found here. 0.46% of the stock is owned by corporate insiders.
Nucor Price Performance
NUE stock opened at $108.85 on Friday. The firm’s 50-day moving average price is $131.13 and its two-hundred day moving average price is $132.80. Nucor Co. has a 12-month low of $88.50 and a 12-month high of $187.90. The stock has a market capitalization of $28.50 billion, a price-to-earnings ratio of 3.34 and a beta of 1.39. The company has a current ratio of 2.62, a quick ratio of 1.39 and a debt-to-equity ratio of 0.37.
Nucor (NYSE:NUE – Get Rating) last released its quarterly earnings data on Thursday, July 21st. The basic materials company reported $9.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.91 by $0.76. Nucor had a net margin of 21.03% and a return on equity of 57.78%. The firm had revenue of $11.79 billion for the quarter, compared to analysts’ expectations of $11.59 billion. During the same quarter in the previous year, the company earned $5.04 earnings per share. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, equities analysts predict that Nucor Co. will post 31.01 earnings per share for the current year.
Nucor Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Thursday, September 29th. Nucor’s dividend payout ratio is currently 6.14%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on NUE shares. Citigroup lifted their target price on shares of Nucor to $145.00 in a research report on Tuesday, September 13th. JPMorgan Chase & Co. decreased their target price on shares of Nucor from $146.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 14th. Credit Suisse Group decreased their target price on shares of Nucor from $165.00 to $140.00 and set an “outperform” rating on the stock in a research report on Friday, September 16th. StockNews.com cut shares of Nucor from a “buy” rating to a “hold” rating in a research report on Tuesday, September 13th. Finally, UBS Group set a $120.00 target price on shares of Nucor in a research report on Monday, June 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nucor has an average rating of “Hold” and a consensus target price of $132.78.
Nucor Company Profile
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Nucor Corporation manufactures and sells steel and steel products. The company’s 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; and bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and special bar quality products.
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