Commerzbank Aktiengesellschaft FI increased its stake in shares of Nucor Co. (NYSE:NUE) by 15.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,501 shares of the basic materials company’s stock after purchasing an additional 1,906 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Nucor were worth $922,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Krilogy Financial LLC increased its position in Nucor by 4,594.6% during the 2nd quarter. Krilogy Financial LLC now owns 1,737 shares of the basic materials company’s stock valued at $101,000 after buying an additional 1,700 shares in the last quarter. Cerebellum GP LLC acquired a new position in Nucor during the 4th quarter valued at about $131,000. Benjamin F. Edwards & Company Inc. increased its position in Nucor by 791.0% during the 3rd quarter. Benjamin F. Edwards & Company Inc. now owns 2,673 shares of the basic materials company’s stock valued at $150,000 after buying an additional 2,373 shares in the last quarter. Appleton Partners Inc. MA acquired a new position in Nucor during the 4th quarter valued at about $204,000. Finally, Haverford Trust Co. acquired a new position in Nucor during the 3rd quarter valued at about $205,000. Hedge funds and other institutional investors own 74.33% of the company’s stock.
In other news, EVP Robert J. Stratman sold 39,037 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $63.88, for a total value of $2,493,683.56. Following the transaction, the executive vice president now owns 233,824 shares in the company, valued at $14,936,677.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.70% of the company’s stock.
Nucor (NYSE:NUE) last released its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.10. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.86 billion. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. equities research analysts anticipate that Nucor Co. will post 4.92 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Stockholders of record on Friday, December 29th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Thursday, December 28th. This is an increase from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio (DPR) is 37.07%.
A number of brokerages have recently weighed in on NUE. Credit Suisse Group increased their price objective on Nucor from $67.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Bank of America set a $75.00 price objective on Nucor and gave the company a “buy” rating in a report on Monday, January 8th. BMO Capital Markets increased their price objective on Nucor to $72.00 and gave the company a “market perform” rating in a report on Wednesday, January 31st. They noted that the move was a valuation call. Morgan Stanley cut their price objective on Nucor from $70.00 to $68.00 and set a “hold” rating on the stock in a report on Tuesday, February 6th. Finally, ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company’s stock. Nucor presently has an average rating of “Buy” and a consensus target price of $69.90.
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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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