Uncommon Cents Investing LLC acquired a new position in Nucor Co. (NYSE:NUE) during the 4th quarter, Holdings Channel reports. The firm acquired 39,860 shares of the basic materials company’s stock, valued at approximately $2,669,000. Nucor makes up 1.8% of Uncommon Cents Investing LLC’s holdings, making the stock its 19th largest holding.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in NUE. Janus Henderson Group PLC increased its holdings in shares of Nucor by 429.3% in the second quarter. Janus Henderson Group PLC now owns 213,636 shares of the basic materials company’s stock worth $12,363,000 after buying an additional 173,276 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Nucor in the second quarter worth about $394,000. Lord Abbett & CO. LLC increased its holdings in Nucor by 97.2% during the 2nd quarter. Lord Abbett & CO. LLC now owns 568,200 shares of the basic materials company’s stock valued at $32,882,000 after purchasing an additional 280,100 shares during the period. Intl Fcstone Inc. purchased a new position in Nucor during the 2nd quarter valued at about $550,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Nucor during the 3rd quarter valued at about $859,000. Hedge funds and other institutional investors own 74.10% of the company’s stock.
In other Nucor news, EVP Robert J. Stratman sold 39,037 shares of the company’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 transaction of $2,493,683.56. Following the transaction, the executive vice president now owns 233,824 shares in the company, valued at approximately $14,936,677.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman John J. Ferriola sold 14,313 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $64.12, for a total value of $917,749.56. Following the transaction, the chairman now owns 333,775 shares in the company, valued at approximately $21,401,653. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.
Nucor (NYSE:NUE) last posted its earnings results on Tuesday, January 30th. The basic materials company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.10. Nucor had a return on equity of 13.03% and a net margin of 6.58%. The firm had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the business earned $0.50 EPS. The business’s revenue for the quarter was up 28.7% on a year-over-year basis. sell-side analysts expect that Nucor Co. will post 4.87 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, February 9th. Shareholders of record on Friday, December 29th were issued a dividend of $0.38 per share. This is an increase from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.22%. Nucor’s dividend payout ratio is 36.72%.
A number of research analysts recently issued reports on NUE shares. ValuEngine upgraded Nucor from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research downgraded Nucor from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Jefferies Group restated a “buy” rating and set a $76.00 price target on shares of Nucor in a report on Wednesday, January 31st. Cowen boosted their price target on Nucor from $57.00 to $63.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. Finally, Bank of America set a $75.00 price target on Nucor and gave the company a “buy” rating in a report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Nucor has a consensus rating of “Buy” and a consensus target price of $69.70.
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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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