Chevy Chase Trust Holdings Inc. lifted its stake in shares of Nucor Co. (NYSE:NUE) by 1.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 363,897 shares of the basic materials company’s stock after acquiring an additional 4,192 shares during the quarter. Chevy Chase Trust Holdings Inc. owned about 0.11% of Nucor worth $20,392,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware bought a new stake in Nucor during the 2nd quarter valued at approximately $100,000. Krilogy Financial LLC boosted its stake 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 purchasing an additional 1,700 shares during the period. Fiduciary Trust Co. bought a new stake in Nucor during the 2nd quarter valued at approximately $109,000. Sun Life Financial INC boosted its stake in Nucor by 23,290.0% during the 2nd quarter. Sun Life Financial INC now owns 2,339 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 2,329 shares during the period. Finally, Benjamin F. Edwards & Company Inc. boosted its stake 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 purchasing an additional 2,373 shares during the period. Institutional investors own 74.55% of the company’s stock.
In other news, Director Victoria F. Haynes sold 2,500 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $55.16, for a total value of $137,900.00. Following the completion of the transaction, the director now directly owns 33,573 shares of the company’s stock, valued at approximately $1,851,886.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ladd R. Hall sold 17,583 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was 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 directly owns 206,406 shares of the company’s stock, valued at $11,959,163.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,217 shares of company stock valued at $2,608,231. 0.70% of the stock is currently owned by insiders.
Nucor Co. (NYSE NUE) traded up $1.10 during trading on Tuesday, reaching $61.27. The company’s stock had a trading volume of 5,465,300 shares, compared to its average volume of 2,701,814. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 2.11. The firm has a market cap of $19,119.51, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.36 and a beta of 1.58. Nucor Co. has a 12-month low of $51.67 and a 12-month high of $66.00.
Nucor (NYSE:NUE) last posted its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Nucor had a return on equity of 12.78% and a net margin of 5.80%. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. sell-side analysts expect that Nucor Co. will post 3.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, December 29th will be issued a $0.38 dividend. This is a boost from Nucor’s previous quarterly dividend of $0.38. The ex-dividend date is Thursday, December 28th. This represents a $1.52 annualized dividend and a yield of 2.48%. Nucor’s dividend payout ratio is 43.90%.
Several analysts recently weighed in on NUE shares. Credit Suisse Group increased their target price on Nucor from $63.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. BMO Capital Markets set a $70.00 target price on Nucor and gave the company a “hold” rating in a research note on Saturday, August 26th. Macquarie started coverage on Nucor in a research note on Wednesday, September 6th. They set a “neutral” rating and a $57.00 target price for the company. Morgan Stanley downgraded Nucor from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $78.00 to $60.00 in a research note on Tuesday, September 12th. Finally, KeyCorp restated a “hold” rating on shares of Nucor in a research note on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $67.32.
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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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