QCI Asset Management Inc. NY Grows Position in Nucor Corporation (NUE)
QCI Asset Management Inc. NY lifted its position in shares of Nucor Corporation (NYSE:NUE) by 1.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 219,660 shares of the basic materials company’s stock after purchasing an additional 2,761 shares during the quarter. QCI Asset Management Inc. NY owned about 0.07% of Nucor Corporation worth $12,310,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pioneer Investment Management Inc. boosted its holdings in Nucor Corporation by 437.2% in the second quarter. Pioneer Investment Management Inc. now owns 1,813,506 shares of the basic materials company’s stock worth $104,947,000 after acquiring an additional 1,475,935 shares in the last quarter. Northern Trust Corp boosted its holdings in Nucor Corporation by 15.0% in the second quarter. Northern Trust Corp now owns 5,759,017 shares of the basic materials company’s stock worth $333,275,000 after acquiring an additional 750,796 shares in the last quarter. Balyasny Asset Management LLC boosted its holdings in Nucor Corporation by 55.4% in the second quarter. Balyasny Asset Management LLC now owns 1,471,244 shares of the basic materials company’s stock worth $85,141,000 after acquiring an additional 524,476 shares in the last quarter. Prudential PLC boosted its holdings in Nucor Corporation by 28.2% in the second quarter. Prudential PLC now owns 2,260,300 shares of the basic materials company’s stock worth $130,804,000 after acquiring an additional 496,700 shares in the last quarter. Finally, Deprince Race & Zollo Inc. bought a new stake in Nucor Corporation in the second quarter worth $26,614,000. Institutional investors own 74.59% of the company’s stock.
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In other news, insider D. Chad Utermark sold 9,003 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $59.72, for a total value of $537,659.16. Following the completion of the transaction, the insider now owns 73,883 shares of the company’s stock, valued at $4,412,292.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman John J. Ferriola sold 15,131 shares of the company’s stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $60.40, for a total value of $913,912.40. Following the completion of the transaction, the chairman now directly owns 349,506 shares of the company’s stock, valued at approximately $21,110,162.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,217 shares of company stock valued at $2,608,231. Company insiders own 0.70% of the company’s stock.
Shares of Nucor Corporation (NYSE NUE) traded up $0.02 on Monday, reaching $55.85. The company’s stock had a trading volume of 1,089,312 shares, compared to its average volume of 2,710,701. 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 stock has a market capitalization of $17,880.00, a PE ratio of 16.42, a price-to-earnings-growth ratio of 1.25 and a beta of 1.59. Nucor Corporation has a fifty-two week low of $51.67 and a fifty-two week high of $68.00.
Nucor Corporation (NYSE:NUE) last issued its quarterly earnings results on Thursday, October 19th. The basic materials company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The business had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Nucor Corporation had a return on equity of 12.78% and a net margin of 5.80%. The business’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. equities research analysts forecast that Nucor Corporation will post 3.72 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, September 29th were given a $0.3775 dividend. This represents a $1.51 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Thursday, September 28th. Nucor Corporation’s payout ratio is 42.06%.
Several equities research analysts have commented on the company. Macquarie assumed coverage on Nucor Corporation in a report on Wednesday, September 6th. They set a “neutral” rating and a $57.00 price target on the stock. ValuEngine downgraded Nucor Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Jefferies Group LLC set a $68.00 price target on Nucor Corporation and gave the company a “buy” rating in a report on Monday, August 21st. Credit Suisse Group upped their price target on Nucor Corporation from $63.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Finally, Cowen and Company upped their price target on Nucor Corporation from $57.00 to $63.00 and gave the company a “market perform” rating in a report on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $67.32.
Nucor Corporation 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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