Foundry Partners LLC raised its position in shares of Nucor Co. (NYSE:NUE) by 27.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 181,470 shares of the basic materials company’s stock after buying an additional 38,710 shares during the period. Foundry Partners LLC owned approximately 0.06% of Nucor worth $10,502,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Macquarie Group Ltd. increased its position in shares of Nucor by 866.4% in the fourth quarter. Macquarie Group Ltd. now owns 145,925 shares of the basic materials company’s stock worth $8,686,000 after buying an additional 130,825 shares in the last quarter. Creative Planning increased its position in shares of Nucor by 18.4% in the first quarter. Creative Planning now owns 21,360 shares of the basic materials company’s stock worth $1,276,000 after buying an additional 3,319 shares in the last quarter. Gulf International Bank UK Ltd increased its position in shares of Nucor by 3.5% in the first quarter. Gulf International Bank UK Ltd now owns 97,729 shares of the basic materials company’s stock worth $5,836,000 after buying an additional 3,300 shares in the last quarter. National Pension Service increased its position in shares of Nucor by 3.6% in the first quarter. National Pension Service now owns 261,505 shares of the basic materials company’s stock worth $15,716,000 after buying an additional 9,043 shares in the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Nucor by 7.1% in the first quarter. Capstone Asset Management Co. now owns 29,303 shares of the basic materials company’s stock worth $1,750,000 after buying an additional 1,930 shares in the last quarter. Institutional investors own 76.57% of the company’s stock.
Shares of Nucor Co. (NUE) opened at 55.37 on Friday. The company has a market cap of $17.74 billion, a PE ratio of 15.54 and a beta of 1.51. Nucor Co. has a 12 month low of $44.81 and a 12 month high of $68.00. The firm’s 50-day moving average price is $58.42 and its 200-day moving average price is $59.51.
Nucor (NYSE:NUE) last announced its earnings results on Thursday, July 20th. The basic materials company reported $1.00 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.06. Nucor had a net margin of 6.60% and a return on equity of 15.64%. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same period in the prior year, the business posted $0.73 EPS. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. Equities analysts predict that Nucor Co. will post $4.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Friday, June 30th were given a dividend of $0.3775 per share. This represents a $1.51 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Wednesday, June 28th. Nucor’s dividend payout ratio (DPR) is 43.77%.
NUE has been the topic of a number of research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $75.00 target price (down previously from $77.00) on shares of Nucor in a report on Wednesday, April 19th. Barclays PLC reiterated a “buy” rating and issued a $68.00 target price (up previously from $67.00) on shares of Nucor in a report on Thursday, April 20th. BMO Capital Markets reiterated a “hold” rating on shares of Nucor in a report on Friday, April 21st. Macquarie upgraded Nucor from an “underperform” rating to a “neutral” rating and upped their target price for the company from $55.00 to $62.00 in a report on Monday, April 24th. Finally, Longbow Research initiated coverage on Nucor in a report on Tuesday, May 9th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. Nucor has an average rating of “Buy” and an average target price of $68.76.
In other Nucor news, insider Leon J. Topalian sold 2,626 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $60.23, for a total transaction of $158,163.98. Following the transaction, the insider now owns 19,610 shares of the company’s stock, valued at approximately $1,181,110.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total value of $156,431.42. Following the transaction, the insider now directly owns 62,434 shares in the company, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. Insiders have sold a total of 20,104 shares of company stock worth $1,213,595 in the last ninety days. Insiders own 0.70% of the company’s stock.
Nucor Company Profile
Nucor Corporation (Nucor) manufactures steel and steel products. The Company produces direct reduced iron (DRI) for use in its steel mills. It operates in three segments: steel mills, steel products and raw materials. The steel mills segment produces and distributes sheet steel (hot-rolled, cold-rolled and galvanized), plate steel, structural steel (wide-flange beams, beam blanks, H-piling and sheet piling) and bar steel (blooms, billets, concrete reinforcing bar, merchant bar, wire rod and special bar quality).
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