Nucor Corporation (NUE) Shares Sold by Rothschild Asset Management Inc.
Rothschild Asset Management Inc. cut its stake in Nucor Corporation (NYSE:NUE) by 43.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 315,128 shares of the basic materials company’s stock after selling 241,358 shares during the period. Rothschild Asset Management Inc. owned approximately 0.10% of Nucor Corporation worth $18,237,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Macquarie Group Ltd. boosted its position in shares of Nucor Corporation by 866.4% in the fourth quarter. Macquarie Group Ltd. now owns 145,925 shares of the basic materials company’s stock valued at $8,686,000 after buying an additional 130,825 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in shares of Nucor Corporation by 2.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 358,747 shares of the basic materials company’s stock valued at $21,424,000 after buying an additional 8,607 shares during the period. CENTRAL TRUST Co boosted its position in shares of Nucor Corporation by 173.7% in the first quarter. CENTRAL TRUST Co now owns 22,661 shares of the basic materials company’s stock valued at $1,353,000 after buying an additional 14,381 shares during the period. Manning & Napier Advisors LLC boosted its position in shares of Nucor Corporation by 10.2% in the first quarter. Manning & Napier Advisors LLC now owns 52,197 shares of the basic materials company’s stock valued at $3,117,000 after buying an additional 4,817 shares during the period. Finally, Fulton Bank N.A. purchased a new position in shares of Nucor Corporation during the first quarter valued at about $228,000. 76.44% of the stock is currently owned by institutional investors.
Shares of Nucor Corporation (NYSE NUE) opened at 57.48 on Friday. Nucor Corporation has a one year low of $44.81 and a one year high of $68.00. The stock’s 50 day moving average price is $58.35 and its 200 day moving average price is $59.71. The stock has a market cap of $18.42 billion, a price-to-earnings ratio of 16.14 and a beta of 1.51.
Nucor Corporation (NYSE:NUE) last issued its earnings results on Thursday, July 20th. The basic materials company reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by $0.06. The firm had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.08 billion. Nucor Corporation had a return on equity of 13.39% and a net margin of 6.08%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.73 EPS. Analysts forecast that Nucor Corporation will post $4.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Friday, June 30th will be paid a dividend of $0.3775 per share. The ex-dividend date is Wednesday, June 28th. This represents a $1.51 dividend on an annualized basis and a dividend yield of 2.63%. Nucor Corporation’s payout ratio is currently 43.77%.
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NUE has been the topic of several research analyst reports. Zacks Investment Research cut Nucor Corporation from a “buy” rating to a “hold” rating in a research note on Monday, April 10th. Jefferies Group LLC reissued a “buy” rating and issued a $75.00 price objective (down previously from $77.00) on shares of Nucor Corporation in a research note on Wednesday, April 19th. Barclays PLC reissued a “buy” rating and issued a $68.00 price objective (up previously from $67.00) on shares of Nucor Corporation in a research note on Thursday, April 20th. BMO Capital Markets reissued a “hold” rating on shares of Nucor Corporation in a research note on Friday, April 21st. Finally, Macquarie raised Nucor Corporation from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $55.00 to $62.00 in a research note on Monday, April 24th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $68.76.
In related news, Chairman John J. Ferriola sold 14,941 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $60.17, for a total transaction of $898,999.97. Following the completion of the transaction, the chairman now owns 361,847 shares in the company, valued at $21,772,333.99. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider David A. Sumoski sold 2,537 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $61.66, for a total transaction of $156,431.42. Following the transaction, the insider now owns 62,434 shares of the company’s stock, valued at approximately $3,849,680.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,104 shares of company stock valued at $1,213,595. Insiders own 0.70% of the company’s stock.
About Nucor Corporation
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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