Capital Investment Counsel Inc Purchases New Stake in Nucor Corporation (NUE)
Capital Investment Counsel Inc purchased a new position in shares of Nucor Corporation (NYSE:NUE) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 7,291 shares of the basic materials company’s stock, valued at approximately $409,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Fisher Asset Management LLC lifted its holdings in Nucor Corporation by 0.5% in the 2nd quarter. Fisher Asset Management LLC now owns 89,599 shares of the basic materials company’s stock worth $5,185,000 after buying an additional 428 shares during the period. James Investment Research Inc. purchased a new stake in Nucor Corporation in the 2nd quarter worth approximately $1,187,000. Oregon Public Employees Retirement Fund lifted its holdings in Nucor Corporation by 3.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 73,612 shares of the basic materials company’s stock worth $4,260,000 after buying an additional 2,400 shares during the period. TNB Financial purchased a new stake in Nucor Corporation in the 2nd quarter worth approximately $216,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Nucor Corporation by 1.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 125,437 shares of the basic materials company’s stock worth $7,263,000 after buying an additional 1,650 shares during the period. Institutional investors and hedge funds own 74.59% of the company’s stock.
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Shares of Nucor Corporation (NYSE NUE) traded down $0.36 during trading hours on Wednesday, reaching $54.50. The company’s stock had a trading volume of 1,106,367 shares, compared to its average volume of 2,702,657. The stock has a market capitalization of $17,707.96, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.26 and a beta of 1.59. Nucor Corporation has a 1-year low of $51.67 and a 1-year high of $68.00. The company has a quick ratio of 1.12, a current ratio of 2.11 and a debt-to-equity ratio of 0.37.
Nucor Corporation (NYSE:NUE) last announced its quarterly earnings data on Thursday, October 19th. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 firm’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. sell-side analysts predict that Nucor Corporation will post 3.7 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Shareholders of record on Friday, September 29th were paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend was Thursday, September 28th. Nucor Corporation’s payout ratio is 43.90%.
NUE has been the subject of several research analyst reports. Credit Suisse Group increased their price objective on Nucor Corporation from $63.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Zacks Investment Research upgraded Nucor Corporation from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Bank of America Corporation reiterated a “buy” rating and issued a $73.00 price objective on shares of Nucor Corporation in a report on Wednesday, September 6th. Citigroup Inc. set a $66.00 price objective on Nucor Corporation and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, Cowen and Company reiterated a “market perform” rating and issued a $63.00 price objective (up previously from $62.00) on shares of Nucor Corporation in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. Nucor Corporation presently has an average rating of “Hold” and a consensus price target of $67.32.
In other Nucor Corporation news, Chairman John J. Ferriola sold 15,131 shares of Nucor Corporation stock in a transaction on 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 sale, the chairman now owns 349,506 shares of the company’s stock, valued at approximately $21,110,162.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ladd R. Hall sold 17,583 shares of Nucor Corporation stock in a transaction 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 sale, the insider now directly owns 206,406 shares of the company’s stock, valued at approximately $11,959,163.64. The disclosure for this sale can be found here. Insiders have sold 44,217 shares of company stock valued at $2,608,231 in the last quarter. 0.70% of the stock is owned by company insiders.
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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