Alpine Woods Capital Investors LLC grew its stake in Nucor Co. (NYSE:NUE) by 68.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,200 shares of the basic materials company’s stock after buying an additional 9,000 shares during the period. Alpine Woods Capital Investors LLC’s holdings in Nucor were worth $1,244,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of NUE. Pioneer Investment Management Inc. boosted its holdings in shares of Nucor by 437.2% in the 2nd quarter. Pioneer Investment Management Inc. now owns 1,813,506 shares of the basic materials company’s stock valued at $104,947,000 after buying an additional 1,475,935 shares in the last quarter. CI Investments Inc. acquired a new position in shares of Nucor in the 3rd quarter valued at $55,250,000. Northern Trust Corp boosted its holdings in shares of Nucor by 15.0% in the 2nd quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock valued at $333,275,000 after buying an additional 750,796 shares in the last quarter. Balyasny Asset Management LLC boosted its holdings in shares of Nucor by 55.4% in the 2nd quarter. Balyasny Asset Management LLC now owns 1,471,244 shares of the basic materials company’s stock valued at $85,141,000 after buying an additional 524,476 shares in the last quarter. Finally, Prudential PLC boosted its holdings in shares of Nucor by 28.2% in the 2nd quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock valued at $130,804,000 after buying an additional 496,700 shares in the last quarter. Institutional investors and hedge funds own 74.55% of the company’s stock.
Nucor Co. (NYSE:NUE) traded up $0.65 during mid-day trading on Thursday, hitting $58.59. 2,227,321 shares of the stock traded hands, compared to its average volume of 2,676,660. Nucor Co. has a one year low of $51.67 and a one year high of $68.00. The firm has a market cap of $18,324.72, a PE ratio of 16.95, a PEG ratio of 1.30 and a beta of 1.58. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.11 and a quick ratio of 1.12.
Nucor (NYSE:NUE) last released its earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. Nucor had a net margin of 5.80% and a return on equity of 12.78%. The company had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the business earned $0.88 EPS. The business’s revenue was up 20.5% on a year-over-year basis. equities research analysts forecast that Nucor Co. will post 3.69 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, December 29th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Nucor’s previous quarterly dividend of $0.38. Nucor’s dividend payout ratio (DPR) is currently 43.90%.
Several research analysts have recently issued reports on the stock. ValuEngine upgraded shares of Nucor from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Credit Suisse Group decreased their price target on shares of Nucor from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Thursday, September 28th. Bank of America decreased their price target on shares of Nucor from $73.00 to $71.00 and set a “buy” rating for the company in a research note on Friday, October 20th. Longbow Research cut shares of Nucor from a “buy” rating to a “neutral” rating and increased their price target for the stock from $55.01 to $56.04 in a research note on Monday, October 2nd. Finally, Jefferies Group set a $68.00 price target on shares of Nucor and gave the stock a “buy” rating in a research note on Monday, August 21st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $67.32.
In other news, insider Ladd R. Hall sold 17,583 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $57.94, for a total value of $1,018,759.02. Following the completion of the transaction, the insider now owns 206,406 shares in the company, valued at approximately $11,959,163.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Victoria F. Haynes sold 2,500 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $55.16, for a total transaction of $137,900.00. Following the completion of the transaction, the director now owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The disclosure for this sale can be found here. Insiders sold a total of 44,217 shares of company stock valued at $2,608,231 in the last quarter. Insiders own 0.70% of the company’s stock.
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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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