SRS Capital Advisors Inc. acquired a new position in shares of Nucor Co. (NYSE:NUE) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 5,000 shares of the basic materials company’s stock, valued at approximately $317,000.
A number of other hedge funds have also bought and sold shares of the business. IFM Investors Pty Ltd increased its holdings in shares of Nucor by 44.2% in the 2nd quarter. IFM Investors Pty Ltd now owns 14,389 shares of the basic materials company’s stock valued at $899,000 after acquiring an additional 4,408 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Nucor by 34.4% in the 2nd quarter. Fisher Asset Management LLC now owns 103,237 shares of the basic materials company’s stock valued at $6,452,000 after acquiring an additional 26,450 shares during the last quarter. Capital Investment Advisors LLC bought a new stake in shares of Nucor in the 2nd quarter valued at approximately $275,000. State of Alaska Department of Revenue increased its holdings in shares of Nucor by 25.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 49,927 shares of the basic materials company’s stock valued at $3,118,000 after acquiring an additional 10,110 shares during the last quarter. Finally, TRUE Private Wealth Advisors increased its holdings in shares of Nucor by 14.7% in the 2nd quarter. TRUE Private Wealth Advisors now owns 7,721 shares of the basic materials company’s stock valued at $485,000 after acquiring an additional 987 shares during the last quarter. Institutional investors own 77.46% of the company’s stock.
NYSE:NUE opened at $62.78 on Friday. Nucor Co. has a 12-month low of $53.71 and a 12-month high of $70.48. The company has a market cap of $20.31 billion, a P/E ratio of 10.32, a P/E/G ratio of 0.70 and a beta of 1.45. The company has a quick ratio of 1.69, a current ratio of 3.15 and a debt-to-equity ratio of 0.42.
Nucor (NYSE:NUE) last released its quarterly earnings data on Thursday, October 18th. The basic materials company reported $2.33 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.35 by ($0.02). Nucor had a net margin of 8.79% and a return on equity of 20.72%. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.64 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The company’s revenue for the quarter was up 30.4% compared to the same quarter last year. Equities analysts expect that Nucor Co. will post 7.63 EPS for the current fiscal year.
Nucor declared that its Board of Directors has initiated a share buyback program on Thursday, September 6th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the basic materials company to buy up to 10% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 9th. Shareholders of record on Friday, September 28th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 27th. This represents a $1.52 dividend on an annualized basis and a yield of 2.42%. Nucor’s dividend payout ratio (DPR) is presently 43.30%.
A number of research analysts recently issued reports on the company. ValuEngine upgraded Nucor from a “sell” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research lowered Nucor from a “buy” rating to a “hold” rating in a research report on Monday, October 29th. Citigroup reduced their price objective on Nucor from $78.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, October 19th. Credit Suisse Group restated a “neutral” rating on shares of Nucor in a research report on Monday, October 15th. Finally, Jefferies Financial Group restated a “buy” rating and set a $80.00 price objective on shares of Nucor in a research report on Friday, July 13th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Nucor currently has a consensus rating of “Buy” and an average price target of $73.58.
Nucor Corporation manufactures and sells steel and steel products in the United States and internationally. It operates in three segments: Steel Mills, Steel Products, and Raw Materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; hollow structural section steel tubing, steel electrical conduit, plate steel, and structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, wire rods, and special bar quality; and tubular and plate steel products.
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