Nucor Co. (NUE) Stake Raised by Farmers & Merchants Investments Inc.
Farmers & Merchants Investments Inc. raised its stake in shares of Nucor Co. (NYSE:NUE) by 21.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,049 shares of the basic materials company’s stock after buying an additional 12,690 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Nucor were worth $4,243,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. FNY Partners Fund LP acquired a new position in Nucor during the fourth quarter valued at approximately $107,000. TCI Wealth Advisors Inc. raised its position in Nucor by 3.5% in the third quarter. TCI Wealth Advisors Inc. now owns 2,070 shares of the basic materials company’s stock valued at $102,000 after buying an additional 70 shares during the last quarter. Massmutual Trust Co. FSB ADV acquired a new position in Nucor during the fourth quarter valued at approximately $127,000. Parallel Advisors LLC acquired a new position in Nucor during the fourth quarter valued at approximately $150,000. Finally, First Command Bank acquired a new position in Nucor during the fourth quarter valued at approximately $170,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.
Nucor Co. (NYSE:NUE) traded up 0.21% during trading on Tuesday, reaching $57.33. 2,183,647 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $61.06 and its 200-day moving average price is $58.48. The company has a market capitalization of $18.28 billion, a price-to-earnings ratio of 23.10 and a beta of 1.45. Nucor Co. has a 52-week low of $44.81 and a 52-week high of $68.00.
Nucor (NYSE:NUE) last posted its earnings results on Tuesday, January 31st. The basic materials company reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.16. Nucor had a return on equity of 9.32% and a net margin of 4.53%. The firm earned $3.96 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period in the previous year, the company earned $0.46 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts expect that Nucor Co. will post $3.93 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 11th. Investors of record on Friday, March 31st will be issued a $0.3775 dividend. The ex-dividend date of this dividend is Wednesday, March 29th. This represents a $1.51 annualized dividend and a yield of 2.63%. Nucor’s dividend payout ratio (DPR) is currently 65.94%.
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Several research analysts recently commented on the stock. Zacks Investment Research lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Monday, April 10th. BMO Capital Markets restated a “hold” rating and issued a $68.00 price target on shares of Nucor in a report on Monday, April 3rd. Jefferies Group LLC restated a “buy” rating and issued a $77.00 price target on shares of Nucor in a report on Tuesday, January 10th. Berenberg Bank lowered shares of Nucor from a “buy” rating to a “hold” rating in a report on Tuesday, January 31st. Finally, Citigroup Inc restated a “neutral” rating and issued a $65.00 price target (up previously from $50.00) on shares of Nucor in a report on Friday, January 20th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $65.91.
In other news, insider Raymond S. Napolitan, Jr. sold 12,400 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $63.74, for a total transaction of $790,376.00. Following the completion of the transaction, the insider now directly owns 73,885 shares in the company, valued at $4,709,429.90. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James D. Frias sold 52,631 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $62.57, for a total value of $3,293,121.67. Following the transaction, the chief financial officer now owns 174,037 shares of the company’s stock, valued at $10,889,495.09. The disclosure for this sale can be found here. 0.63% of the stock is currently owned by insiders.
Nucor Company Profile
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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